Sun Valley Luxury LivingInsights into the Current Real Estate Market

Reaching New Heights in 2017All signs are pointing towards continued growth in the coming year

2017 was a record-breaking year on many different levels. Nationally, the U.S. stock market soared to new heights. At the same time, Idaho became the fastest growing state in the nation.

Locally, Baldy received over 359 inches of snow -- more than we’ve seen in the past 50 years! And air service to Sun Valley hit its highest mark ever, with more than 93,000 emplanements. (We also added new direct flights from both Portland and Chicago.)

These factors helped to fuel a surge in the local real estate market and by the end of the year the volume traded was up 55% from 2016. (While this is the highest we have seen since the recession, this volume is 72% of the all-time market high in 2005.)

Rob and I are proud to report that our volume sold increased by 248% (yes, really!). We were also honored to represent the highest priced home to sell this year. By the end of 2017 we represented over $72 million in real estate sales, more than any other agents in the valley.

Looking back, 2017 held a few big events that impacted our market.

In the spring, the huge snowpack melted and filled the Bigwood River over its maximum capacity. Many low-lying areas along the river flooded, causing property damage up and down the valley. Though it was a tough time for many, we all experienced the true spirit of community as locals gathered together to fill sandbags and help those evacuated from their homes. Eventually the water receded and by July, most riverfront home-owners were home again.

In July, construction began on the new Argyros Performing Arts Center on Main Street, opposite the Limelight Hotel. The new contemporary building will include two theaters, a café and a

Katherine Rixon & Rob Cronin

Keller Williams Sun Valley Southern Idaho

Katherine Rixon and Rob Cronin, of Keller Williams Sun Valley Southern Idaho, were ranked #1 in Blaine County based upon their volume of sales in 2017. They are nationally recognized members of the Keller Williams Luxury Division and have been ranked the #1 Team in the Keller WiIliams North-west Region for two out of the past three years. Katherine and Rob have also been recognized by the prestigious Institute for Luxury Home Marketing for their recent performance in the million-dollar and above luxury home market within the Sun Valley area. Members of the Million Dollar Guild are Certified Luxury Home Marketing Specialists® (CLHMS) who have documented their success in assisting affluent buyers and sellers with million-dollar properties.

large outdoor plaza. Founders intend to create a new and exciting gathering place for the entire community.

In housing, the first two Thunder Spring Residences officially closed escrow and the remaining six are under construction. Completion is expected by the end of 2018.

The final phase of the Diamondback Homes in Sun Valley is also under construction with five of the ten units already reserved.

According to Visit Sun Valley, the valley saw its highest occupancy rates ever during the Eclipse in late August. Despite the warnings, we had no food or gas shortages and no traffic jams. Instead, we were treated to a once-in-a-lifetime experience that surpassed all of our expecta-tions! It was a wonderful way to end a very busy and eventful summer.

In the following pages, we have broken down the real estate numbers in a variety of ways to show trends in the marketplace.

Rob and I have some very big goals for 2018 and if the first few weeks of the year are any indication of what lies ahead, we predict it is going to be another record-breaking year!

95 Greenhorn GulchSouth of Ketchum | $14,500,000

Market Overview

2017 Average Sales Prices

Bellevue Hailey Ketchum Sun ValleyEach data point is 12 months of activity.

$1.2M

$1.0M

$0.8M

$0.6M

$0.4M

$0.2M

$0

2015 2016 2017

$270,835

$858,416

$1,093,132

$269,679

+15.5% -16.4% -9.1%+0.6%

$281,106

$990,123

$905,652

$283,405

+3.7% +13.4% -17.2%+4.9%

$389,609

$1,052,008

$797,762

$319,775

+27.9% +5.9% -12.0%+11.4%

In 2017, inventory levels in Blaine County dropped to their lowest level in three years. At the same time the healthy national economy and a growing stock market fueled demand, resulting in a record year --up 55% in total sales volume from 2016. The number of total transactions was up 27% and average sales prices were up 19%.

We expect the substantial reduction in the utilization of the mortgage interest deduction will somewhat reduce upward pressure on home prices, however given the low levels of inventory we still expect home prices to rise this coming year.

95.1% Average Sales Price as a percentage of

List Price

19%Average Sales

Price

8.3%Active

Listings

20%Number of properties

pending sale

185Average Days

on Market

27%Number of properties

sold

55%Volume

Sold

$500,000-$999,999

$1,000,000-$1,499,999

$1,500,000-$1,999,999

$2,000,000-$2,999,999

$3,000,000-$3,999,999

$4,000,000+

209

$0-$499,999

412

95 76 67 37 52

450

400

350

300

250

200

150

100

50

0

Active ListingsJanuary 1, 2017 - December 31, 2017

500

450

400

350

300

250

200

150

100

50

0$500,000-$999,999

$1,000,000-$1,499,999

$1,500,000-$1,999,999

$2,000,000-$2,999,999

$3,000,000-$3,999,999

$4,000,000+

179

$0-$499,999

464

5634 8 8 33

Number of Real BuyersJanuary 1, 2017 - December 31, 2017

Overall MarketStats

$519,912,359 2017 Total

Sales Volume

$668,268Average

Sales Price

$339,000Median

Sales Price

948 Total Active

Listings

109 Mountain View LaneHailey, Idaho | $3,195,000

300

250

200

150

100

50

0$500,000-$999,999

$1,000,000-$1,499,999

$1,500,000-$1,999,999

$2,000,000-$2,999,999

$3,000,000-$3,999,999

$4,000,000+

154

$0-$499,000

118 144

221 233

255

167

Average Days on MarketJanuary 1, 2017 - December 31, 2017

185Average Days

on Market

$289Average price

per square foot

95.1%Averages Sales

Price as a percentage

of List Price

50

45

40

35

30

25

20

15

10

5

0$500,000-$999,999

$1,000,000-$1,499,999

$1,500,000-$1,999,999

$2,000,000-$2,999,999

$3,000,000-$3,999,999

$4,000,000+

17

$0-$499,000

11.4

2421

2823

46

Months’ SupplyJanuary 1, 2017 - December 31, 2017

100

90

80

70

60

50

40

30

20

10

0$500,000-$999,999

$1,000,000-$1,499,999

$1,500,000-$1,999,999

$2,000,000-$2,999,999

$3,000,000-$3,999,999

$4,000,000+

70%

48%40% 46%

37%

19%

$0-$499,999

92%

Sold to Current Listings %January 1, 2017 - December 31, 2017

Condo/Townhomes

$908,243Ketchum

Average Sales Price

$530,213 Warm SpringsAverage Sales Price

$488,433 Sun Valley

Average Sales Price

$416,553 Elkhorn

Average Sales Price

$500,000-$999,999

$1,000,000-$1,499,999

$1,500,000-$1,999,999

$2,000,000-$2,999,999

$3,000,000-$3,999,999

$4,000,000+

209179

9556 76

34 8 8 33

$0-$499,999

412464

6737 52

Sold to Current ListingsJanuary 1, 2017 - December 31, 2017

Sold Current Listings500

450

400

350

300

250

200

150

100

50

0

341 Eagles Wing DriveKetchum, Idaho | $1,995,000

106 Sagewillow Road5 beds | 5.5 baths | 6,507 square feet$4,450,000

Relaxation and sophistication meet in this gorgeous Cape Cod style home with expan-sive mountain views and a gracious, open floor plan. Situated on a sprawling, sunny lot this home boasts custom features through-out including a huge heated patio with covered dining. The bright kitchen opens to a great room perfect for modern living.

Built with mountain living in mind, this home includes a downstairs "locker room" off the garage equipped with two areas for chang-ing and storing athletic gear plus a heated closet for drying. A multi-functional area with a kitchenette and its own entrance could serve as guest suite or a play room.

Other features include multiple laundry rooms, a handy homework & media room, a private office off of the front foyer, a hot-tub, specialized LED lighting and a to-die for kitchen!

220 Buss Elle Drive5 beds | 5.5 baths | 5,560 square feet$6,950,000 | www.220busselle.com

Nestled next to Bald Mountain along the BigWood River, this irreplaceable West Ketchum property is truly your own private Idaho. This home is where mountain living meets modern architecture with captivating details like corrugated tin ceilings and authentic train trestle beams in the great room.

Comfort meets adventure with access to town, fishing, and skiing right out your back door. Gated and private, this LEED Certified Gold home sits on 1.10 acres of pristine riverfront property just blocks from down-town Ketchum.

The main house features three bedroom suites, a media room, office, dining room, kitchen and a show-stopping great room. The adorable guest apartment offers two additional bedroom suites, a full kitchen and living room for family and friends.

95 Greenhorn Road5 beds | 7 baths | 19,191 square feet$14,500,000

New England meets the Old West in this rustic but luxurious Greenhorn estate comprised of three historical barns built in 1750, 1810 and 1850. Each barn was painstakingly restored to honor its original character and heritage.

Modern amenities including an under- ground garage, chef's kitchen, elevator, wine room and jaw-dropping silo stair case make this house both a conversation piece and a cozy, comfortable place to call home.

Situated on 12.3 acres in Greenhorn Gulch, the sunny, private property is just steps from world-class hiking, biking, horseback riding and back-country skiing. A seasonal pond invites frequent visits from local wildlife.

Featured Properties

671 Alpine LaneKetchum, Idaho | $8,995,000

250 Crystal CourtKetchum, Idaho | $5,875,000

Meet The Team Paying It ForwardKatherine Rixon & Rob Cronin donate 5% of their commissions to local non-profit organizations.

In 2017, recipients included:Camp Rainbow Gold Sun Valley Ski Education FoundationThe Community SchoolHemingway Steam SchoolSun Valley Center for the ArtsWood River Land TrustPlanned ParenthoodBlaine County Recreation DistrictHouston Flood Relief Fund

Katherine Rixonkrixon@rixonandcronin.com

Katherine has been selling real estate since 2000, and has been in partnership with Rob Cronin since 2006. She is known for her incredible work ethic, her dedication to her clients and the ability to get more done in a day than seems humanly possible.

Katherine graduated Cum Laude from Colorado College with a degree in economics and environmental science. Her husband, Buffalo, is an architect and partner with R/L/B. They have two children.

When she is not working, you will find Katherine shuttling kids to ski races in the winter, paddle boarding around Alturas Lake in the summer and hiking Baldy whenever possible.

Rob Croninrobcronin@rixonandcronin.com

Rob has lived in Sun Valley since 1995. He originally moved from New York City to open The Mint for Bruce Willis and Demi Moore. He fell in love with the valley and has since owned several restaurants, including award winning Zou 75 in Hailey.

A cancer survivor himself, Rob has been involved with Camp Rainbow Gold (a program for children with cancer and their families) for the past 16 years. He has been recognized nation-ally for his work with the camp by Realtor Magazine and was awarded the Good Neighbor award in 2006. Rob was also voted “Valley’s Best Realtor” in 2010.

In 2015 Rob married his wife Charli, and instantly became a father to two boys, Ashton and Jadon. He is teaching them to golf, hunt and snowboard.

Rob is a true ‘people person’ and loves nothing more than enjoying a glass wine with clients and friends!

Shannon Brandenburg shannon@rixonandcronin.com

Shannon joined the team as Katherine and Rob’s executive assistant in November 2016. Prior to moving to Sun Valley, she worked in television for many years, most recently as a reporter at KTVB in Boise.

Shannon graduated Magna Cum Laude from Boston University with a bachelor’s degree in journalism. Her husband Will, an Olympic alpine skier, is the Western Region Development Coach for the US Ski and Snowboard Team.

2017 Notable Sales

Katherine Rixon & Rob Cronin Keller Williams Sun Valley Southern Idaho

PO Box 3455Sun Valley, ID 83353

www.rixonandcronin.com208.622.7722

371 N. Main Street Sold $3,700,000

122 Old Mill Road Sold $5,875,000

316 Diamond Back Road Listed for $6,999,000, PENDING SALE

206 & 206 ½ Fairway Road Sold $3,115,000

86 Gimlet Road, Listed for $15,950,000 Undisclosed Sales Price

1030 Hideaway LaneSold $8,000,000