Ketchum & Sun Valley Real Estate Update

July 2025 Market Pulse – Single-Family Homes & Townhomes/Condos

As we move deeper into summer, the real estate landscape in Ketchum and Sun Valley continues to evolve—and distinctly so. While just a few miles apart, these two resort towns contain several micro-markets, each moving to its own rhythm.

This update highlights trends in both single-family homes and townhomes/condos across:

🏘️ Ketchum (Warm Springs, North & South of town)
🌞 Sun Valley (Elkhorn, Sun Valley Proper)
🏘️ Townhomes & Condos

🔹 Ketchum (incl. Warm Springs)

📈 Inventory is rising: 74 listings in early July (↑19.4% MoM, ↑17% YoY)
🧊 Sales have slowed: Only 1 unit sold in May (↓89% from April)
🔄 Buyer activity picking up: Pendings up 200% YoY in May; 300% MoM increase in early July
Warm Springs vs. Downtown Ketchum:

Warm Springs is more ski-season driven, while central Ketchum attracts investors and full-time buyers. Both are showing stronger summer momentum in pending sales.

🔹 Sun Valley (incl. Elkhorn)

🔽 Inventory remains tight: 9 listings in May; ↓36.8% YoY
📈 Sales bouncing back: Spring closings ↑133.3% from 2024
🚀 Pendings up: +200% spring quarter, +87.5% YTD
Elkhorn vs. Sun Valley Proper:

Elkhorn sees steady second-home demand; Sun Valley proper caters to a premium market. Despite low inventory, buyer interest is stronger here than in Ketchum.

🏡 Single-Family Homes

🔹 Ketchum (incl. Warm Springs + North/South of Town)

🏠 Inventory growing: 69 homes for sale (↑33.3% MoM), but ↓12.7% YoY
📉 Sales slowing: May sales ↓53.8% YoY; YTD down 43.5%
⬆️ Pendings rebounding: 7 new pendings in early July (↑ from 0 in June)
Micro-Market Note:

North/South of Ketchum tend to be higher-priced and slower-moving. Warm Springs may gain speed as we enter late summer.

🔹 Sun Valley (incl. Elkhorn + Sun Valley Proper)

🚨 Inventory surged: 18 homes in early July (↑80% MoM, ↑28.6% YoY)
❄️ Sales stalled: Only 4 homes sold YTD (↓71.4%)
💤 Pendings lagging: Just 6 so far in 2025 vs. 14 in 2024
Observation:

Even with more listings, buyers in Sun Valley are hesitating. Sellers should focus on sharp pricing and value presentation.

🎯 Takeaways

🛍️ Buyers have more choices in the single-family space, but are deliberate.
🧠 Sellers must be pricing-savvy—especially in Sun Valley’s upper-tier market.
🧭 Micro-markets matter: Warm Springs ≠ Downtown Ketchum ≠ Elkhorn ≠ Sun Valley Proper.
📩 Need a custom update for your street or complex? Just hit reply—we’re here to help.

— Cheryl concannon, Your Local Expert in Ketchum & Sun Valley Real Estate