Sun Valley & Ketchum Luxury Real Estate Market: 2025 Year in Review
In Sun Valley, 2025 closed-sale data places the luxury segment, representing the top 10 percent of the residential market, at approximately $4,000,000 and above.
During the calendar year 2025, the Sun Valley area recorded 49 closed residential transactions at or above this threshold, compared to 61 luxury transactions during calendar year 2024. This year-over-year change reflects increased selectivity rather than a lack of demand, as buyers became more analytical and pricing discipline played a larger role in execution.
Despite fewer transactions, pricing held firm. The median luxury sale price increased from approximately $5.65 million in 2024 to about $5.8 million in 2025. The average luxury sale price also edged slightly higher, moving from roughly $6.9 million to just over $7.0 million. Fewer homes traded, but those that did were priced and positioned with greater precision.
Total closed luxury volume declined from approximately $422 million in 2024 to approximately $344 million in 2025. This change was driven primarily by fewer transactions in the upper-middle luxury tier rather than broad-based price compression.
A defining characteristic of the luxury market in both years was concentration within specific price bands. Approximately 86 percent of all $4M+ sales in 2025 closed below $10 million, reinforcing that the $4.5 million to $6.5 million range remains the core liquidity band for luxury real estate in the Sun Valley market.
Price Band Behavior and Buyer Preferences
The $4.5 million to $6.5 million range accounted for the majority of luxury transactions in both 2024 and 2025. Activity in this band remained effectively flat year over year, confirming it as the most repeatable and dependable segment of the luxury market.
Above this range, buyer behavior shifted. Pricing above $7.0 million increasingly favored homes that were new, recently updated, or turnkey, particularly when paired with strong micro-location and long-term suitability. Properties lacking meaningful updates or modern functionality faced longer timelines, regardless of headline price.
Sun Valley Proper
Sun Valley proper delivered one of the strongest luxury performances during calendar year 2025. Fourteen $4M+ transactions closed in this area, with sale prices ranging from approximately $4.15 million to $22.0 million. Median pricing clustered between roughly $5.9 million and $6.1 million, while average pricing skewed higher due to multiple eight-figure transactions.
A meaningful share of this performance was driven by significant single-family sales within the White Clouds neighborhood. These transactions reinforced the premium placed on location, limited inventory, and homes that were newly constructed.
Ketchum
Ketchum led the luxury market in total transaction count, with approximately 18 closed sales above $4,000,000 during calendar year 2025. Pricing ranged from roughly $4.0 million to $17.75 million, reflecting a broad spectrum of product types and micro-locations.
Liquidity was strongest between $4.0 million and $6.5 million, while pricing above $7.0 million increasingly favored well-located homes that were new or significantly updated. Turnkey properties in prime locations continued to execute, while dated homes or those requiring meaningful renovation faced pricing resistance.
South of Ketchum and Blaine County
South of Ketchum and select Blaine County areas accounted for approximately 17 of the 49 luxury transactions in 2025. Sale prices ranged from approximately $4.1 million to $14.35 million, with median pricing clustering in the low-to-mid $6 million range.
Buyers in this segment prioritized privacy, acreage, and lifestyle, but still showed a clear preference for properties that offered modern layouts, recent improvements, or the ability to live comfortably without immediate renovation.
Ultra-Luxury Activity
Sales above $10 million remained limited and selective. There were seven closed residential sales above $10,000,000 in calendar year 2025, compared to eight ultra-luxury transactions in 2024. While transaction count declined slightly year over year, eight-figure sales continued to occur in both periods, confirming ongoing buyer depth for exceptional assets.
Looking Ahead to 2026
The data confirms that the Sun Valley luxury market is active, functional, and increasingly disciplined. Momentum remains concentrated in proven locations and price ranges, with buyers consistently prioritizing location, new construction, or significant updates.
As the market moves into 2026, sellers who align pricing with proven liquidity bands and present homes that are well-located and either new or meaningfully updated are best positioned to execute.
This luxury analysis builds on broader market trends observed across all price points. For a comprehensive view of how inventory, pricing, and buyer behavior shifted throughout Sun Valley and Ketchum in 2025, including condominiums, townhomes, and single-family homes, see my Sun Valley & Ketchum Real Estate Market: 2025 Year in Review.
The Value of Discretion in Luxury Real Estate
For those considering a luxury purchase or sale, understanding where the market is liquid—and where it is selective—matters. Pricing strategy, property positioning, and micro-location play an outsized role at this level. I am always available to provide discreet guidance, share current market perspectives, and help evaluate opportunities with clarity and intention.
© 2026 Summer Baldwin. All rights reserved.
This analysis, commentary, and written content are original intellectual property. Unauthorized use, reproduction, or adaptation—including by real estate professionals—is prohibited. Market data is deemed reliable but not guaranteed.