Page not found – 5B Real Estate – residential, vacation, luxury https://5b-realestate.com 5B Real Estate - residential, vacation, luxury Wed, 20 Mar 2024 20:05:28 +0000 en-US hourly 1 U.S. Alpine Championships Return to Sun Valley https://5b-realestate.com/2024/03/20/u-s-alpine-championships-return-to-sun-valley https://5b-realestate.com/2024/03/20/u-s-alpine-championships-return-to-sun-valley#respond Wed, 20 Mar 2024 20:05:28 +0000 https://5b-realestate.com/?p=4987 On Bald Mountain, 85 years of world-class ski racing U.S. Alpine Championships return to Sun Valley for fourth time in last decade For the fourth time since 2016, locals and visitors will have the thrill of watching America’s most competitive skiers carve turns down Bald Mountain in the U.S. Alpine Championships. The racing event—the culmination […]

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On Bald Mountain, 85 years of world-class ski racing

U.S. Alpine Championships return to Sun Valley for fourth time in last decade

For the fourth time since 2016, locals and visitors will have the thrill of watching America’s most competitive skiers carve turns down Bald Mountain in the U.S. Alpine Championships.

The racing event—the culmination of a two-year contract between U.S. Ski & Snowboard (USSA) and Sun Valley Resort—will draw spectators to the Warm Springs side of the mountain March 20-24. For many athletes, it will be their final chance to claim spots on the U.S. Ski Team.

The three disciplines on display this year are slalom, giant slalom, and super giant slalom, or “super-G.” Slalom competitors will attempt to finish two shorter runs with gates closely spaced, while giant slalom competitors will aim for two mid-length runs with gates placed further apart. Super-G competitors will take one longer, faster run from Upper Warm Springs to Upper Greyhawk through gates spaced further apart than they’d be on a giant slalom course.

https://www.mtexpress.com/wood_river_journal/special_sections/on-bald-mountain-85-years-of-world-class-ski-racing/article_2122cd9e-e1d3-11ee-b910-0f787ea3ca6d.html

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Sun Valley Resort’s Winter Wonderland https://5b-realestate.com/2023/12/19/sun-valley-resorts-winter-wonderland https://5b-realestate.com/2023/12/19/sun-valley-resorts-winter-wonderland#respond Tue, 19 Dec 2023 19:46:26 +0000 https://5b-realestate.com/?p=4863 Throughout December, the holiday spirit settles over Sun Valley Resort, transforming our Village into a picturesque Winter Wonderland. You can hear it in the melodies sung by the Sun Valley Carolers as they stroll through our European-style Holiday Market stalls, and you can see it sparkle in the ceremoniously lit Christmas Tree. The holiday spirit […]

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Throughout December, the holiday spirit settles over Sun Valley Resort, transforming our Village into a picturesque Winter Wonderland. You can hear it in the melodies sung by the Sun Valley Carolers as they stroll through our European-style Holiday Market stalls, and you can see it sparkle in the ceremoniously lit Christmas Tree. The holiday spirit glows in the torchlights that parade down Dollar Mountain on Christmas Eve and ring out in the fireworks that signal the coming of Christmas Day. From photo-ops with Santa Claus to festive movie nights at the Opera House, experience the timeless magic of the holidays at Sun Valley Resort.

 

Thursday, December 21st:

Friday, December 22nd:

Saturday, December 23rd:

Sunday, December 24th:

Sunday, December 31st:

  • New Year’s Eve Night Skiing at Dollar Mountain (6:00pm-9:00pm)
  • New Year’s Eve “Snow Ball” Party at River Run Lodge (9:00pm – 1:00am)

Recurring Events:

  • Community Gingerbread Contest at The Boiler Room (December 9th- 31st, All Day)
  • Après Ski Live Music at River Run Lodge (December 9th, 15-16th, 21st – 31st, 2:00pm-5:00pm)

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Windermere & Back Tie Ski Tune & Winter Kick off Party https://5b-realestate.com/2023/11/30/windermere-back-tie-ski-tune-winter-kick-off-party https://5b-realestate.com/2023/11/30/windermere-back-tie-ski-tune-winter-kick-off-party#respond Thu, 30 Nov 2023 18:32:48 +0000 https://5b-realestate.com/?p=4615 Join us for a Complimentary Ski Tune! & Winter Kick off Party Drop off your skis on Thursday, December 7th at Black Tie Ski Rentals (660 N Main St, Ketchum, ID 83340) and pick them up on Friday, December 8th. Join us for a Winter Kick-Off party at Black Tie 4:30! Please RSVP to Anna […]

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Join us for a Complimentary Ski Tune!

& Winter Kick off Party

Drop off your skis on Thursday, December 7th at Black Tie Ski Rentals (660 N Main St, Ketchum, ID 83340) and pick them up on Friday, December 8th. Join us for a Winter Kick-Off party at Black Tie 4:30!

Please RSVP to Anna or Michelle. We look forward to seeing you there!

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Q3 2023 Idaho Real Estate Market Update https://5b-realestate.com/2023/11/30/q3-2023-idaho-real-estate-market-update https://5b-realestate.com/2023/11/30/q3-2023-idaho-real-estate-market-update#respond Thu, 30 Nov 2023 16:28:15 +0000 https://5b-realestate.com/?p=4609 Q3 2023 Idaho Real Estate Market Update by Matthew Gardner, Windermere Economist The following analysis of select counties of the Idaho real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market […]

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Q3 2023 Idaho Real Estate Market Update by Matthew Gardner, Windermere Economist

The following analysis of select counties of the Idaho real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact us!

 

Regional Economic Overview

The annual pace of employment growth in the state continues to slow. However, the addition of 22,400 new jobs since the third quarter of 2022 represents an impressive 2.7% growth rate and is well above the national rate of 2.1%. While I expect the pace of job growth to continue to cool, jobs will still be added for the balance of the year. My current forecast calls for statewide employment to increase 2.5% in 2023 and 1.3% in 2024.

With the exception of Lewiston, where employment levels were static, all of Idaho’s metro areas had solid year-over-year nonfarm job gains. Idaho Falls saw the greatest increase at 4.2%, followed by Pocatello (+3.3%), Coeur d’Alene (+3%), Boise (+2.7%), and Twin Falls (2.6%).

The state unemployment rate was a healthy 3%, which was marginally above 2.8% in the third quarter of 2022. Regionally, the lowest jobless rate was in Idaho Falls at 2.7%. Boise’s unemployment rate was 3.5%. The highest rate was in Coeur d’Alene, where 4.5% of the workforce was actively looking for work.

Idaho Home Sales

❱ In the third quarter of 2023, 4,945 homes sold, which was a drop of 6.2% from the third quarter of 2022 and 2.7% lower than in the second quarter of this year.

❱ Listing activity was up 11.3% from the second quarter of the year, which appears to have resulted in rising sales in most market areas.

❱ Relative to the same quarter in 2022, sales fell in all the northern counties covered by this report and in every county other than Canyon and Blaine in the Southern Idaho markets. However, compared to the second quarter of this year, sales rose in all markets other than Boundary County in Northern Idaho and Canyon, Gem, and Ada counties in the southern part of the state.

❱ Pending sales in the third quarter were lower than in the second quarter of 2023, suggesting that sales may slow in the final quarter of the year.

A bar graph showing the annual change in home sales by county in North and South Idaho from Q3 2022 to Q3 2023. In the North Kootenai had the least change at -7.9% and Boundary had the greatest change at -20.4%. In the South, Blaine had the least change at 1.7% and Canyon County had the greatest increase at 5.4% while Ada had the greatest decrease of 10.6%.

Idaho Home Prices

❱ The average home price in the region rose 2.7% year over year to $636,148. Sale prices were 5.1% higher than in the second quarter of 2023.

❱ Compared to the second quarter of 2023, prices rose an average of 5.9% in the northern market areas covered by this report. Sale prices were up 4.2% in the southern part of the state.

❱ Only one county in the northern market areas and two in the southern markets saw prices fall year over year. Compared to the second quarter, prices rose in all markets other than Shoshone and Boundary counties in the northern market area.

❱ Median list prices were up 9.5% from the second quarter. However, in the southern part of the state, every county except Payette and Blaine counties saw list prices fall. Only Boundary County in the northern markets saw list prices fall. This may suggest that sellers are starting to adjust their expectations given significant increases in financing costs.

A map showing the real estate home prices percentage changes for various counties in Idaho. Different colors correspond to different tiers of percentage change. Bonner, Valley, Gem, Payette, and Blaine had changes of more than 16% and are represented in the corresponding navy color. Kootenai, Shoshone, and Boise Counties were in the 0-8.8% range. Canyon and Ada were in the -0.9 to -6.5% range. Boundary County was in -6.6% to -14% range and is represented in the light grey color on the map.

A bar graph showing the annual change in home sale prices by county in North and South Idaho from Q3 2022 to Q3 2023. In the North, Kootenai had the least change at 2.3% while Bonner had the greatest increase of 22% and Boundary County had the greatest decrease at 13.7%. In the South, Ada County had the least change at -2.9%, just below is is Canyon with the greatest decrease at 4.1% while the rest of the counties saw increases with Blaine seeing the greatest change at 55.2%, the next greatest increase is Valley at 25.5%.

Mortgage Rates

Mortgage rates continued trending higher in the third quarter of 2023 and are now at levels we have not seen since the fall of 2000. Mortgage rates are tied to the interest rate (yield) on 10-year treasuries, and they move in the opposite direction of the economy. Unfortunately for mortgage rates, the economy remains relatively buoyant, and though inflation is down significantly from its high, it is still elevated. These major factors and many minor ones are pushing Treasury yields higher, which is pushing mortgage rates up. Given the current position of the Federal Reserve, which intends to keep rates “higher for longer,” it is unlikely that home buyers will get much reprieve when it comes to borrowing costs any time soon.

With such a persistently positive economy, I have had to revise my forecast yet again. I now believe rates will hold at current levels before starting to trend down in the spring of next year.

A bar graph showing the mortgage rates from Q3 2021 to the present, as well as Matthew Gardner's forecasted mortgage rates through Q3 2024. In Q3 2023 Mortgage Rates hit 7.04% and Matthew Gardner predicts rates will decrease steadily over the next 4 quarters.

Idaho Days on Market

❱ The average time it took to sell a home in the region rose 16 days compared to the third quarter of 2022. It took an average of nine fewer days for a home to sell than in the second quarter of this year.

❱ In both Northern and Southern Idaho, days on market rose in all counties compared to the same period of 2022. Compared to the second quarter of this year, market time rose in every county in the northern part of the state. In the southern areas, market time fell in all counties except Payette and Gem.

❱ It took an average of 87 days to sell a home in Northern Idaho and 55 days in the southern counties covered by this report.

❱ Homes sold the fastest in Ada County in the southern part of the state. In Northern Idaho, Shoshone and Kootenai counties had the shortest market time.

A bar graph showing the days on market by county for homes in North and South Idaho in Q3 2023. In the North, Kootenai and Shoshone had the least days on market at 82, and Bonner had the most with 94. In the South, Ada had the least of 34 and Blaine County had the most days on market with 86, Valley sits in the middle of the graph at 52.

Conclusions

This speedometer reflects the state of the region’s real estate market using housing inventory, price gains, home sales, interest rates, and larger economic factors.

There appears to be a disconnect in the market right now. Pending and closed sales are down while listings are higher, which should favor home buyers. However, list and sale prices are higher, which typically favors sellers.

Given the rapid increases in home prices over the past two years, I believe that significantly higher mortgage rates will start impacting the market at some point. The question is when.

A speedometer graph indicating the market in Idaho for Q3 2023. The meter is directly in the middle in the “balanced market” portion in the center.

All things considered, I do not yet see a market that favors either buyers or sellers. As such, I have left the needle in balanced quadrant, with neither side having the upper hand.

About Matthew Gardner

Matthew Gardner - Chief Economist for Windermere Real Estate

As Chief Economist for Windermere Real Estate, Matthew Gardner is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. Matthew has over 30 years of professional experience both in the U.S. and U.K.

In addition to his day-to-day responsibilities, Matthew sits on the Washington State Governors Council of Economic Advisors; chairs the Board of Trustees at the Washington Center for Real Estate Research at the University of Washington; and is an Advisory Board Member at the Runstad Center for Real Estate Studies at the University of Washington where he also lectures in real estate economics.

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Sun Valley Jazz and Music Festival https://5b-realestate.com/2023/10/19/sun-valley-jazz-and-music-festival https://5b-realestate.com/2023/10/19/sun-valley-jazz-and-music-festival#respond Thu, 19 Oct 2023 17:23:24 +0000 https://5b-realestate.com/?p=4585 The 2023 Sun Valley Jazz and Music Festival dates are October 18 to 22! Five days. Forty Bands. One Million Smiles Attendees from all fifty states, every Canadian province, and several foreign countries gather each October to celebrate live performances of America’s music. The Sun Valley Jazz & Music Festival was birthed out of a […]

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The 2023 Sun Valley Jazz and Music Festival dates are October 18 to 22! Five days. Forty Bands. One Million Smiles Attendees from all fifty states, every Canadian province, and several foreign countries gather each October to celebrate live performances of America’s music. The Sun Valley Jazz & Music Festival was birthed out of a love and appreciation for jazz music by Tom & Barbara Hazzard and is held mid-October each year in Sun Valley, ID. Become One of the Thousands of Jazz Fans Who Have Been Delighted Since 1990! This experience of telling the story of “American” music is our passion. Amazing isn’t it? We all get to be part of this history while it’s still in the making. The names that ring through eternity—Armstrong, Ellington, Fitzgerald, Beiderbecke, Goodman, Holliday, Basie, Shaw, Miller, and so many more—have created a legacy of delight that lives on through those of us who participate in this jazz festival. The history of this music echoes the history of twentieth century America. This jazz event is held this year because of your continued support and encouragement. You tell people how much fun it is and that they need to come to Sun Valley.

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Wagon Days 2023 https://5b-realestate.com/2023/08/24/wagon-days-2023 https://5b-realestate.com/2023/08/24/wagon-days-2023#respond Thu, 24 Aug 2023 21:15:33 +0000 https://5b-realestate.com/?p=4473 Saturday, September 2nd, the city of Ketchum will hold its annual Big Hitch Parade, one of the largest non-motorized parades in the Pacific Northwest. This beloved event celebrates the town’s mining history with an impressive display of horse-drawn buggies, carriages, carts, and stagecoaches. The parade got its start in 1958 as a way to honor […]

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Saturday, September 2nd, the city of Ketchum will hold its annual Big Hitch Parade, one of the largest non-motorized parades in the Pacific Northwest. This beloved event celebrates the town’s mining history with an impressive display of horse-drawn buggies, carriages, carts, and stagecoaches.

The parade got its start in 1958 as a way to honor Ketchum’s heritage as a mining town in central Idaho. In the late 1800s, large draft horses were vital for hauling heavy ore from the mines scattered throughout the surrounding mountains. The Big Hitch Parade commemorates this by featuring teams of horses pulling a variety of wagons and carts. Some rigs require up to 32 horses all working together!

One of the highlights is the stagecoach, an iconic symbol of the American West. Stagecoaches were essential for transporting people and mail to remote mountain towns like Ketchum in the late 1800s. Visitors can see these preserved coaches pulled by a hitch of six horse teams just as they were over a century ago.

In addition to the horse-drawn vehicles, the parade includes marching bands, dancers, classic cars, and more. Make sure to arrive early to get a good viewing spot along Main Street as the parade steps off at 1 PM. After the parade, stick around for live music, food vendors, and activities for the kids. Spend the weekend exploring downtown Ketchum and Sun Valley, with an array of shops, restaurants, and outdoor recreation just steps from Main Street.

The Big Hitch Parade is a can’t-miss tradition for visitors and locals alike. If you find yourself in Idaho this August, be sure to stop by Ketchum for this beloved annual event that offers family-friendly fun and a glimpse into the area’s pioneering past.

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The Idaho Gardner Report Q2 https://5b-realestate.com/2023/08/02/q2-2023-idaho-gardner-report https://5b-realestate.com/2023/08/02/q2-2023-idaho-gardner-report#respond Wed, 02 Aug 2023 21:38:41 +0000 https://5b-realestate.com/?p=4455 Sales volume in Blaine county has gone down 28% from 2022 Q2 to 2023 Q2 this year, but prices have gone up 26% this last year! Supply and demand! Read the full report: Idaho Gardner Report

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Sales volume in Blaine county has gone down 28% from 2022 Q2 to 2023 Q2 this year, but prices have gone up 26% this last year! Supply and demand!
Read the full report: Idaho Gardner Report

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On Ice: Sun Valley revamping indoor & outdoor ice rinks after refrigeration failure https://5b-realestate.com/2023/05/12/on-ice-sun-valley-revamping-indoor-outdoor-ice-rinks-after-refrigeration-failure https://5b-realestate.com/2023/05/12/on-ice-sun-valley-revamping-indoor-outdoor-ice-rinks-after-refrigeration-failure#respond Fri, 12 May 2023 17:22:35 +0000 https://5b-realestate.com/?p=4431 The well-known Sun Valley ice rink has welcomed skaters of all abilities for decades. It first opened in 1936 with the rest of the resort. It has appeared in movies, hosted the world’s most famous figure skaters and is a place many Idahoans have taken a lap (or a tumble). But this winter, the ice is gone – both on the […]

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The well-known Sun Valley ice rink has welcomed skaters of all abilities for decades. It first opened in 1936 with the rest of the resort. It has appeared in movies, hosted the world’s most famous figure skaters and is a place many Idahoans have taken a lap (or a tumble).

But this winter, the ice is gone – both on the outdoor rink, as well as the indoor rink next door where the Sun Valley Suns usually play.  No triple axels. No sow cows. No nervous kids learning to skate. But, the rinks will return.

Cooling down

“We are replacing the entire mechanical refrigeration system that services both rinks as well as the floors beneath each ice surface,” Scott Irvine, Ice Operations Manager for Sun Valley Resort, said. “The scope of the project is extensive and we’re thrilled to have it underway.”

The resort closed the rinks in September, according to the Idaho Mountain Express, which forced the cancellation of the final planned outdoor ice show of the summer season. But the paper said the upgrade was already planned to start the next month. The rink reopened for a time in January when the outdoor temperatures were cool.

The work, as viewed late last month by BoiseDev, appeared extensive – with the concrete surface of the outdoor rink entirely removed and work crews preparing the surface for new equipment.

Irvine said the refrigeration and piping system for the outdoor rink date to 1956. The indoor rink opened in 1975. The upgrades should make the year-round outdoor rink, as well as its indoor sister, more energy efficient.

“Modern refrigeration systems are much more energy efficient and reliable than their predecessors,” Irvine said. “Our new system is also capable of providing more refrigeration capacity, which will help us maintain more consistent ice in the warmer months.”

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Idaho Tourism Committee gathers in Ketchum to celebrate a good year, planning for an even better 2023 https://5b-realestate.com/2023/02/10/idaho-tourism-committee-gathers-in-ketchum-to-celebrate-a-good-year-planning-for-an-even-better-2023 https://5b-realestate.com/2023/02/10/idaho-tourism-committee-gathers-in-ketchum-to-celebrate-a-good-year-planning-for-an-even-better-2023#respond Fri, 10 Feb 2023 17:17:40 +0000 https://5b-realestate.com/?p=4383 Central Idaho recorded $18.9 million dollars in air transportation from visitors. KETCHUM, Idaho (KMVT/KSVT) — The Idaho Tourism Economic Impact Committee gathered Wednesday in Ketchum, to discuss the upcoming fiscal year budget. “What they do is they look at our marketing programs and they look at what we’re projecting FY-23 year. More importantly it also […]

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Central Idaho recorded $18.9 million dollars in air transportation from visitors.

KETCHUM, Idaho (KMVT/KSVT) — The Idaho Tourism Economic Impact Committee gathered Wednesday in Ketchum, to discuss the upcoming fiscal year budget.

“What they do is they look at our marketing programs and they look at what we’re projecting FY-23 year. More importantly it also gives an opportunity for us to reflect on our successes and what direction we’re going for 2024,” said Tourism Manager – Diane Norton.

In Central Idaho, which includes Blaine County, travel spending generated just shy of $408 million dollars, up $78 million dollars from 2020. And 39 million of that went to state and local tax revenue.

“We also try and support our other regions, and sister communities, whether it’s Shoshone, Twin, Jerome or heading north. We get a lot of traffic going through Hailey and we have a welcome center in downtown Hailey. That’s going up to Stanley – going up to Salmon – going up to Middle Fork, we not only like to help promote our community, but give advice to those people coming and going about the cool things going on in Twin or Stanley,” said Mike McKenna – The Chamber of Hailey and the Wood River Valley.

Central Idaho recorded $18.9 million dollars in air transportation from visitors.

The Friedman Memorial Airport in Hailey provides flights to six different cities during peak summer and winter seasons.

“We are one stop to the world because you can fly from Sun Valley to another city to another international destination, we like to say we’re nonstop to six different cities and one stop to the world,” said Carol Waller from the Fly Sun Valley Alliance.

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Sun Valley Holiday 2022 https://5b-realestate.com/2022/11/16/sun-valley-holiday-2022 https://5b-realestate.com/2022/11/16/sun-valley-holiday-2022#respond Wed, 16 Nov 2022 20:17:02 +0000 https://5b-realestate.com/?p=4321 The post Sun Valley Holiday 2022 appeared first on Anna Mathieu.

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