Star Valley: 2019 End Of Year Market Report

S TA R VA L L E Y R E A L E S TAT E

MARKET REPORT

YEAR-END 2019

#1 IN SALES VOLUME, I N SA L E S T R A N SAC T I O N S & I N AC T I V E L I ST I N G S

W E PA R T I C I PAT E I N T H E M O S T R E A L E S TAT E A C T I V I T Y O F A N Y OT H E R B R O K E R AG E , P R OV I D I N G YO U A S I N G U L A R I N S I G H T INTO THE LOCAL MARKET

2X MOR E ACTIVE LISTINGS TH AN OU R CLOS EST COMP ETITOR

S OLD 40% MOR E D OLLAR VOLU ME IN 2019

30% MOR E TR ANSACTIONS IN 2019

The Market Report Jackson Hole Real Estate Associates is pleased to present the Star Valley Market Report for YearEnd 2019. This report gives a broad overview of the Star Valley real estate market. However, each neighborhood and property in the Star Valley

On behalf of our dedicated team of professionals at Jackson Hole Real Estate Associates, we are pleased to present our comprehensive market report for Year-End 2019. In this detailed report you will find information on the market segments making up the Star Valley area.

As the market leader, we have developed a dynamic report that sheds fresh light on the insights and trends that are shaping our real estate market.

area is unique and requires individual analysis for an accurate estimate of value and market conditions. Contact any of our our experts at Jackson Hole Real Estate Associates for more indepth information of a specific neighborhood or property.

Jackson Hole Real Estate Associates exclusively owns and maintains the region’s oldest and most comprehensive market database. No other

-8%

DOLLAR VOLUME SINGLE FAMILY HOME

+1%

MEDIAN SALE PRICE SINGLE FAMILY HOME

brokerage or agent has the resources available to offer this depth of expertise or insight into market conditions. The unmatched resources and knowledge of Jackson Hole Real Estate Associates – the largest and most dynamic real estate company in the region – combined with the largest independent affiliate networks, Christie’s International Real Estate and Leading Real Estate Companies of the World, offer the ideal balance of local expertise and global reach.

* The statistics used in this report are from the Teton Board of Realtors Multiple Listing Service (MLS). * This report does not go into detail on every segment of the market, but is intended to offer an overview of general market conditions. * All statistics are supplied by sources that have been deemed reliable but are not guaranteed. * Statistics are cumulative.

Cover Image: 95 River Bench Road | Thayne, Wyoming | List Price: $389,000

M A RK E T H IGH LIGHTS

YE AR -END 2 019 OVE RALL M ARKE T After steady growth throughout 2018, the Star Valley real estate market cooled slightly in 2019.

$251,257 AVERAGE SALE PRICE

The number of transactions dipped 5% year over year 2018 vs. 2019 and the total dollar volume decreased by 18%. The average sales price declined 14% while the median sales price rose by 8%.

Jackson Hole Real Estate Associates is proud to once again represent the most buyers and sellers of any brokerage in the area, facilitating 217 transactions by end of year. That’s 30% more transactions than our closest competitor.

A year-end snapshot of the Star Valley market shows an inventory of 445 listings which demonstrates great potential in the 2020 market.

$215,000

501

TOTAL NUMBER OF TRANSACTIONS

MEDIAN SALE PRICE

SNAP SHOT

445

ACTIVE LISTINGS

SOLD | List Price: $ 359,900 | Star Valley Ranch, WY

YEAR-END 2019 SINGLE FAMILY

YEAR-END 2019 CONDOMINIUM & TOWNHOME

Star Valley’s single-family home sales fell compared to year-end 2018. While the valley saw a small decrease in transactions, down 8%, and a dip in dollar volume of 17%, JHRE Associates of Star Valley represented the buyer and seller in 46% of these transactions.

# of Transactions

240

Total Dollar Volume

$91,548,559

Inventory 113 Average Sale Price

$381,115

Median Sale Price

$315,000 (up 1%)

This segment of the market increased greatly compared to year-end 2018 indicating new buyer demand. Both Condominium and Townhome transactions sold at an impressive 97% of list price. Inventory for both have dropped since mid-year supporting the demand for property in this segment.

Townhome

Condominium sold at

96%

of list price

# of Transactions

8 (up 33%)

# of Transactions

13 (up 44%)

Total Dollar Volume

$4,888,500

Total Dollar Volume

$ 4,784,000

Inventory 3

Inventory

1

Average Sale Price

$611,062

Average Sale Price $368,000

Median Sale Price

$280,000

Median Sale Price $275,000

YEAR-END 2019 COMMERCIAL

YEAR-END 2019 BUILDING SITES

to nearly $15,000 more per transaction. Properties sold at 95% of list

indicating an increase in new construction throughout Star Valley.

price which is up by 4% from 2018, though it is notable that a small

Available inventory indicates the ability for this segment to perform

sample size also lends to significant variation between reporting

equally as well through out 2020.

The average sale price increased year over year by 4% which translated

Year over year, building site transactions have kept a steady pace

periods.

# of Transactions

7

Total Dollar Volume

$2,323,499

Inventory 41

4%

Average Sale Price

# of Transactions

229

Total Dollar Volume

$19,714,374

Inventory 259

Average Sale Price

$331,928

Average Sale Price

$86,089

Median Sale Price

$255,000

Median Sale Price

$57,500

15%

Median Sale Price

SOLD | List Price: $250,000 | Bedford, WY

307. 654. 7575 Alpine 307. 883. 7575 Thayne www.starvalleyrealestate.com www.JHREA.com www.westernranches.com 80 West Broadway Jackson, WY 83001 3200 McCollister Drive Teton Village, WY 83025 270 W Pearl Jackson, WY 83001 Snake River Sporting Club Jackson, WY 83001 Snow King Resort Hotel Jackson, WY 83001 PO Box 3225 46 Iron Horse Drive Alpine, WY 83128 307. 654. 7575 tel PO Box 846 235 S Main St Thayne, WY 83127 307. 883. 7575 tel 65 S Main St Driggs, ID 83422 208. 354. 7325 tel