The Idaho Mountain Express reports Willis' property in Hailey's Flying Heart subdivision is up for sale because he hasn't been able to spend much time in the area.
This is just part of Willis' plans to pare his ties to the region.
He's also trying to unload The Mint bar and nightclub on Hailey's Main Street after dropping the price to $4.5 million, from $6 million when it went on the market last year.
Willis and former wife, Demi Moore, became part of the celebrity scene in the Sun Valley area during the 1990s.
Willis still owns a ski area, Soldier Mountain, west of Hailey.