Real Estate in Ketchum, Idaho: The Ultimate Guide
The housing market is booming in Ketchum, Idaho. Home to Sun Valley’s famous “Baldy” ski mountain—plus unmatched summer recreation, incredible dining, world-class art galleries and events, and plenty of small-town local charm—Ketchum has caught the eye of many homebuyers looking to find the perfect property to call their own. It’s an area known for everything from charming mountain retreats to luxury estates, with plenty of options in between.
With so much information out there about real estate, it can be hard to know where to start your search, so we created the ultimate guide to help you through our local market. You'll learn all you need to know about living here, from what types of homes are available and how much they cost to the best neighborhoods and schools that will fit your family life goals. Read on for our team’s tips for navigating real estate in Ketchum, Idaho.
Is Ketchum, Idaho a good place to live?
Yes! Ketchum is a great place to live, and one of the most increasingly popular destinations for couples, families, retirees, and remote professionals from out-of-state. Whether you consider yourself a foodie (or aspire to be) or you just want a cozy spot to grab a drink after work, Ketchum has all the amenities you’d expect from a resort town—and more. With a low crime rate, free public bus system, and plenty of ways to get outside and stay healthy, it's not hard to see why the city regularly pops up on Top 10 lists around the world.
Is Ketchum close to Sun Valley?
Yes, Ketchum is close to Sun Valley. Although the main resort and hotel are classified as being part of Sun Valley proper, the closest downtown area is in the heart of Ketchum. While the resort has some restaurants and other amenities on the property, most of the local spots for dining, entertainment, and shopping are technically in Ketchum. So when you think of “Sun Valley living,” a home in Ketchum will be in the same area (as of 2019, the two cities had a combined population of only 4,100 people!).
What schools are in the area?
There are three main schools in Ketchum. If your family is looking for a private option, Sun Valley Community School is a PreK-12 school known for its Outdoor Program and renowned ski academy, which supports students’ “athletic passions with the guidance of renowned coaches and engages in a rigorous college-preparatory curriculum.” As part of the ski academy, the school houses student-athletes with dedicated local dorms.
Other than Sun Valley Community School, Ketchum is also home to Ernest Hemingway STEAM School, a public school educating students from pre-kindergarten through eighth grade (middle school), and Pioneer Montessori School.
What’s the average cost of a home?
As of September 2021, the medium list price for homes in Ketchum, Idaho was $1,150,000.
Why is real estate in the Wood River Valley expensive?
There are a few reasons why real estate in Ketchum can be so expensive:
Limited supply: Although homes may be less expensive than some properties in Sun Valley proper, a history of limited supply and increased demand has put pressure on an already restricted housing market.
Increased demand: The area’s increasing real estate prices have also been affected by a shift in potential buyers’ lifestyles. As people have more flexibility to work from home or work remotely, more people are moving to cities like Ketchum as they look for a balance between work and play.
Higher cost of living: With its proximity to Sun Valley, Ketchum is affected by the cost of living and affluence of its neighboring resort market. Ketchum is also more remote, with a limited labor supply and limited room for future development. These factors all help drive the cost of living up.
What can I expect when I start looking for a home in the area?
Before you start looking for a home in Ketchum, you should be prepared for a competitive market. With so many people moving to the area, don’t be surprised if properties go from “for sale” to “pending” more quickly, or even sell before they have the chance to hit the market.
While you’re exploring, you might also notice fewer options overall. With a smaller number of homes and properties available, it’s important to have your “must-have” list ready, knowing you might not get exactly what’s on your wishlist. If it works with your budget, decide on a number that you’d be willing to set aside for future upgrades, additions, or remodels once you find a listing that’s close to your family’s needs.
When you’re in a fast-moving market like Ketchum or Sun Valley, it’s important for your agent to know exactly what you’re looking for, as well as your purchasing power. That way, they can act quickly when something comes online. If something does seem like a match, you should be ready to put your best offer forward, and if you need a loan, you should be pre-approved.
How can I find a realtor in Ketchum, Idaho?
If you’ve made the decision to move part-time or year-round to Ketchum, congratulations! Before starting the process, we strongly recommend finding a realtor who can help you navigate the local landscape. A full-time with a solid track record of closed transactions and competitive negotiation skills is going to be the best fit for helping you be successful in today’s market.
To find a realtor in Ketchum, you can start with a simple Google search. Reviews are a helpful way to compare different agents based on factors that are important to you and your family, as well as understand how different teams specialize or stack up (as of writing this post, we have thirty-nine more 5-star reviews than anyone else in town!). If you know someone who’s local to the Wood River Valley, you can also ask for their recommendation—it’s a small town!
Wrap-Up
We hope this article helps you understand the current real estate market in Ketchum, and we wish you luck as you dive into finding your dream home.
Please don’t hesitate to reach out if you have any questions about the buying process, financing a home or property, or anything else that might come up—we’re always happy to help.
Have some thoughts on this article about real estate in Ketchum, Idaho? Leave a comment below!