2020 Mid-Year Market Report Star Valley

Star Valley Real Estate

MARKET REPORT Mid-Year 2020

Once again we are proud to report that Jackson Hole Real Estate Associates of Star Valley participates in the most real estate activity of any other brokerage, providing you a singular insight into the local market. Our office sold 58% more dollar volume in Q2 of 2020 and maintains 40% more active listings than our closest competitor.

After a robust Star Valley market in Q1 2020, the world was suddenly upended by an international pandemic. While many markets experienced a significant slow down due to the uncertainty, Star Valley Real Estate continued at a brisk pace. Overall dollar volume increased 33% YTD 2020 vs. 2019 while transaction volume increased a modest 4% pushing up average sales price 28%. It appears that the demand for real estate in this unique and beautiful valley is not slowing down anytime soon.

As the world continues to carefully re-open, many are discovering the unique lifestyle benefits and quality of life that Star Valley offers to its residents. *Cover: SOLD | List Price: $2,795,000* | North Star Valley *MAXIMUM LIST PRICE SOLD

Average Sale Price

28% Increase YTD

Total Transactions

4% IncreaseYTD

$286,651

209 Median Sale Price

$227,000

Active Listings

518 $59,050,182

Total Dollar Volume

33% Increase YTD

MID-YEAR 2020 | HIGHLIGHTS

The Star Valley Market

8% Increase YTD starvalleyrealestate.com | Pg. 1

Single Family

Condo/Townhome

45% 5%

Vacant Land Commercial

MID-YEAR 2020 | MARKET OVERVIEW

Sales Distribution by Segment

45% 4%

Highest Sale: $4,300,000

Lowest Sale: $8,500

*MAXIMUM LIST PRICE SOLD

*MINIMUM LIST PRICE SOLD

Sales Volume Year-to-Date 2019 vs. 2020, Star Valley

2020 Data

2019 Data

$30M $20M $10M $5M Jan.

Feb.

Mar.

April

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

starvalleyrealestate.com | Pg. 2

North Star Valley: 68

Central Star Valley: 87

South Star Valley: 51

68

87

51

MID-YEAR 2020 | MARKET OVERVIEW

Transaction Distribution By Location:

starvalleyrealestate.com | Pg. 3

S I N G L E - F A M I LY While the number of transactions is down by 10% in the SingleFamily Home Segment, total dollar volume has increased by 15%. This continues to drive the average sales price up - 28% YTD 2020 vs. 2019, as the Star Valley lifestyle is becoming more popular for second home buyers.

Inventory and average days on market for single family homes has decreased by 23% and 18% respectively indicating a strong demand with the single family home segment.

# of Transactions 89

-10%

Total Dollar Volume $38,451,300

15%

Minimum Price Sold $87,500

-17%

Maximum Price Sold $4,300,000

278%

Average Sale Price $432,037

28%

Median Sale Price $330,000

12%

Average Days on the Market 150

MID-YEAR 2020 | SINGLE - FAMILY

SOLD | List Price: $1,500,000 | North Star Valley

# Pending Transactions 7 Inventory 135

*MAXIMUM LIST PRICE SOLD starvalleyrealestate.com | Pg. 4

CONDOMINIUM & TOWNHOME Condominium and Townhomes saw no change in active listings at the end of quarter two. The number of transactions however has increased by 29%, positively impacting the total dollar volume as well as the average sales price which is up by 45%.

An increase in transactions indicates the popularity of in-town living in Star Valley.

With the increase in average sales price, it’s notable that Condominiums are selling at 97% of list price and Townhomes at 93%, indicative of a healthy market.

# of Transactions 9

29%

Total Dollar Volume $3,264,732

87%

Minimum Price Sold $132,500

-9%

Maximum Price Sold $649,000

86%

Average Sale Price $362,748

45%

Median Sale Price $265,000

10%

Average Days on the Market 254

MID-YEAR 2020 | CONDO & TOWNHOME

SOLD | List Price: $250,000| North Star Valley

# Pending Transactions 4 Inventory 11 starvalleyrealestate.com | Pg. 5

VAC A N T L A N D Vacant Land has remained relatively stable when compared to mid-year 2019. Number of transactions increased by a modest 3% while the total dollar rose by 8%.

The minimum price sold in the Vacant Land Category saw a 33% increase.

# of Transactions 89

3%

Total Dollar Volume $7,537,650

8%

Minimum Price Sold $8,500 Maximum Price Sold $524,000

33% -25%

Average Sale Price $81,322

0%

Median Sale Price $44,500

-30%

Average Days on the Market 382

MID-YEAR 2020 | VACANT LAND

SOLD | List Price: $35,000| Central Star Valley

# Pending Transactions 17 Inventory 300 starvalleyrealestate.com | Pg. 6

COMMERCIAL The Commercial Segment has slowly gained traction as commercial development in Star Valley increases. Commercial sells are up by 75% YTD 2020 vs. 2019. The average sales price increased 16%.

There are 34 active commercial listings in Star Valley - nearly a quarter of those located in Alpine.

# of Transactions 7 Total Dollar Volume 2,162,000 Minimum Price Sold $

75% 109% %

Maximum Price Sold $700,000

65%

Average Sale Price $917,750

16%

Median Sale Price $225,000

2%

Average Days on the Market 341 # Pending Transactions 1 Inventory 34

MID-YEAR 2020 | COMMERCIAL

SOLD | List Price: $250,000| North Star Valley

starvalleyrealestate.com | Pg. 7

307. 733. 6060 tel 307. 733. 3483 fax www.JHREA.com

www.starvalleyrealestate.com

www.tetonvalleyidahorealestate.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 46 Iron Horse Drive Alpine, WY 83128 307. 654. 7575 tel 235 S Main St Thayne, WY 83127 307. 883. 7575 tel 65 S Main St Driggs, ID 83422 208. 354. 7325 tel

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