What’s Hot in Sun Valley Real Estate – Market Trends

Sun Valley Real Estate Market Trends (2023-2024)

The Sun Valley real estate market has seen notable shifts between 2023 and 2024. Both the condo/townhouse and single-family home sectors experienced changes.

In the condo/townhouse market, Warm Springs had stable sales but a significant 25% drop in median prices. This could suggest a market correction or a change in buyer preferences. Ketchum saw a 10% increase in median prices, driven by strong demand for luxury properties. However, the number of units sold decreased. Elkhorn experienced a small 3% price increase, showing that demand remains steady in this more affordable area. Sun Valley’s luxury market remained stable, with only a slight increase in price per square foot.

In the single-family home market, North Ketchum saw a dramatic 50% price drop, likely due to fewer high-end properties selling. Warm Springs saw a 5.5% price increase, driven by its proximity to the resort and growing demand. Ketchum’s luxury market surged with a 41.7% increase in median prices, fueled by strong interest in premium homes. Elkhorn saw a 27.6% price decline, indicating a softening demand for high-end homes. Meanwhile, Sun Valley experienced a 900% increase in sales despite a slight price dip, suggesting growing interest in luxury properties. Mid-Valley saw a 50% increase in median prices as buyers sought premium homes in this developing area.

Overall, the Sun Valley market shows strong growth in the luxury segments, particularly in Warm Springs and Ketchum. Elkhorn and Sun Valley have stable or slightly adjusted pricing. Mid-Valley is becoming more popular, offering value in a growing neighborhood. Buyers and sellers can expect continued demand, especially in the luxury market, with opportunities for affordable options in emerging areas.

What’s Hot in Sun Valley real estate

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