Sun Valley Real Estate Market Report | Third Quarter 2026
The Sun Valley area real estate market continues to demonstrate strength through the first nine months of 2026, with year-to-date sold volume and average sale prices both running well ahead of last year. While individual neighborhoods and property types continue to tell different stories, the broader market remains resilient, supported by strong condominium activity and continued demand for exceptional properties in the resort core and surrounding luxury markets.
Year to date, overall residential sold volume has increased 20%, from approximately $596 million to $714.6 million. The number of closed sales increased 5%, from 371 transactions to 388, while the average sale price rose 15%, from approximately $1.61 million to $1.84 million. Active inventory declined 4%, from 936 listings to 894, while new listings decreased 2%. The combination of higher dollar volume, rising average prices, and modestly higher transaction counts points to a market that continues to perform well, even as buyers remain discerning.
Single-family homes have been an important driver of the increase in market volume. Year-to-date single-family sold volume rose 18%, from approximately $384.6 million to $454.6 million, despite the number of closed sales declining 3%, from 205 to 198. Average sale price increased 22%, from approximately $1.88 million to $2.30 million. Active single-family inventory increased slightly, from 522 to 535 homes, suggesting that much of the growth in dollar volume is being driven by transactions at higher price points rather than a substantial increase in the number of homes sold.
Within the resort core, Sun Valley single-family homes posted particularly strong results. Sold volume increased 77%, from approximately $24.4 million to $43.2 million, while the number of sales increased from five to eight. Average sale price rose 10%, from approximately $4.88 million to $5.40 million. Active inventory declined 28%, from 32 homes to 23, reinforcing the relatively limited supply of single-family properties within Sun Valley.
Ketchum's single-family market presents a more nuanced picture. Active inventory declined 23%, from 56 homes to 43, while closed sales decreased from 14 to 11. Sold volume declined 16%, from approximately $71 million to $59.2 million. Despite fewer transactions, the average sale price increased 6% to approximately $5.38 million, and homes sold at an average of 97% of list price compared with 94% last year. These figures suggest that while transaction activity has slowed, well-positioned properties continue to command strong prices.
Warm Springs single-family activity also reflects the importance of sales mix when evaluating year-over-year statistics. Eight homes have sold year to date compared with six last year, an increase of 33%, while sold volume increased modestly to approximately $35.5 million. Average sale price declined 23%, from approximately $5.78 million to $4.43 million, indicating that this year's closed sales have occurred at lower average price points than the luxury-heavy mix recorded during the same period in 2025.
North of Ketchum and Elkhorn have experienced some of the most significant gains in single-family activity. North of Ketchum recorded 10 sales compared with three last year, with sold volume increasing from approximately $9.4 million to $54.1 million. Average sale price rose 72% to approximately $5.41 million. Elkhorn also posted substantial growth, with nine homes sold compared with three during the same period last year. Sold volume increased from approximately $8.8 million to $39.8 million, while average sale price climbed 50% to approximately $4.42 million. Although the relatively small number of transactions can magnify percentage changes, these results highlight the significant contribution of higher-priced properties to overall market volume.
The condominium market continues to be one of the strongest segments of the Sun Valley area market. Overall condominium sold volume increased 49%, rising from approximately $119.2 million to $178.5 million. Closed sales increased 28%, from 107 to 137, while average sale price climbed 16%, from approximately $1.11 million to $1.30 million. Active condominium inventory declined 6%, from 275 units to 257.
Ketchum condominiums have been a significant contributor to that growth. Sold volume increased 52%, from approximately $61.8 million to $94.1 million, while sales increased 47%, from 38 to 56 units. Average sale price rose 3% to approximately $1.68 million. Warm Springs condominiums posted even larger percentage gains, with sold volume increasing 177%, from approximately $4.6 million to $12.6 million. Eleven units have sold compared with six last year, while average sale price increased 51% to approximately $1.15 million.
Sun Valley condominiums also remained strong. Sold volume increased 29%, from approximately $17.7 million to $22.9 million, despite the number of sales remaining unchanged at 21. Average sale price increased 29%, from approximately $843,000 to $1.09 million, while active inventory declined 30%, from 43 units to 30.
Elkhorn condominiums continued to demonstrate steady demand. A total of 38 units sold compared with 35 last year, representing an 8% increase in transactions. Sold volume rose 35%, from approximately $32.3 million to $43.7 million, while average sale price increased 24% to approximately $1.15 million. Active inventory declined slightly, from 89 to 85 units.
South of Ketchum single-family activity has moderated from last year's luxury-heavy market. The number of sales declined slightly, from 26 to 25, while sold volume decreased 20%, from approximately $103.5 million to $82.7 million. Average sale price declined 16%, from approximately $3.98 million to $3.31 million. Active inventory also decreased 11%, from 85 homes to 75, indicating that the lower dollar volume reflects a different mix of closed transactions rather than an increase in available supply.
Hailey's single-family market continues to show signs of normalization. Active inventory increased 16%, from 119 homes to 139, while the number of closed sales declined 7%, from 76 to 70. Sold volume, however, increased 6%, from approximately $80.2 million to $85.1 million. Average sale price rose 15%, from approximately $1.06 million to $1.22 million, demonstrating that higher-priced transactions continue to support overall market values even as sales activity has moderated.
Bellevue has also experienced a notable increase in average sale prices. The number of single-family sales remained unchanged at 22, while sold volume increased 59%, from approximately $14.9 million to $23.8 million. Average sale price rose from approximately $677,000 to $1.08 million. Active inventory increased 23%, from 40 homes to 49. With transaction counts unchanged, the increase in dollar volume reflects a higher-priced mix of properties sold during the first nine months of the year.
Townhomes present a more mixed picture. Overall townhome sales increased 9%, from 41 to 45 transactions, while sold volume declined 8%, from approximately $83.6 million to $76.3 million. Average sale price decreased 16%, from approximately $2.04 million to $1.69 million. Ketchum townhomes were a notable exception, with sold volume increasing 34% to approximately $28.3 million and average sale price rising 47% to approximately $2.83 million, despite one fewer sale year over year.
As we move into the final quarter of 2026, the market continues to reward properties that are well positioned, appropriately priced, and effectively presented. The year-to-date numbers reinforce continued demand, particularly for quality properties in desirable locations, while also illustrating the growing importance of understanding differences between individual neighborhoods and property types. Rising average sale prices should not be interpreted as uniform appreciation across the market, as the composition of closed sales can significantly influence year-over-year comparisons.
If you are considering buying or selling in the Sun Valley area, I would be happy to provide a more detailed look at the market specific to your property, neighborhood, or real estate goals. With more than 25 years of experience in the Wood River Valley market, I bring both a long-term perspective and a current, data-driven approach to helping my clients make informed real estate decisions. Please reach out anytime to start a conversation.
© 2026 Summer Baldwin. All rights reserved.
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