Star Valley Real Estate Market Report | Year-End 2018

YEAR-END

2018

STAR VALLEY REAL ESTATE MARKET REPORT

The Market Report Jackson Hole Real Estate Associates is pleased to present the Star Valley Market Report for Year-End 2018. This report gives a broad overview of the Star Valley real estate market.

However, each neighborhood and property in the Star Valley area is unique and requires individual analysis for an accurate estimate of value and market conditions. Contact any of

On behalf of our dedicated team of professionals at Jackson Hole Real Estate Associates, we are pleased to present our comprehensive market report for the year-end 2018. 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.

our our experts at Jackson Hole Real Estate Associates for more in-depth 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 brokerage or agent has the resources available to offer this depth of expertise or insight into

1%

AVERAGE SALE PRICE

7%

MEDIAN SALE PRICE

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: 165 Flywater Trail | Freedom, Wyoming | List Price: $2,950,000

M A RK E T H IGH LIGHTS

YE AR -END 2 018 OVE RALL M ARKE T

The Star Valley, Wyoming real estate market maintained steady growth throughout 2018. Transactions were up 6% over the previous year, and total dollar volume for the entire market grew 7% to $157,283,235.

Average sale prices increased a modest 1%, and median prices rose 8%.

$289,124

Inventory remained low, falling 7% compared to 2017 for the entire market, and 17% in the single-family segment.

AVERAGE SALE PRICE

$200,500

544 TOTAL NUMBER OF TRANSACTIONS

MEDIAN SALE PRICE

-7%

DECREASE IN INVENTORY

SOLD | List Price: $249,995 | Etna, Wyoming

YEAR-END 2018 SINGLE FAMILY

YEAR-END 2018 CONDOMINIUM & TOWNHOME

The total dollar volume of single-family sales increased 14%,

This segment of the market leveled out after a spike in activity in the first half of

from $98,134,070 in 2017 to $112,725,589 in 2018. Inventory

the year. The average and median sale prices for condominiums was down 48%

continued to decrease, down 17%, while average and median

and 11%, respectively. The average and median sales prices for townhomes grew,

sale prices grew by 3% and 9%, respectively.

up 18% and 15%, respectively.

Townhome

Condominium # of Transactions

271 (up 11%)

# of Transactions

6 (down 33%)

# of Transactions

9 (down 18%)

Total Dollar Volume

$112,725,589

Total Dollar Volume

$1,040,500

Total Dollar Volume

$3,213,500

Inventory

2 (down 71%)

Inventory 144 (down 17%) Average Sale Price

$415,962

Median Sale Price

$305,750

3%

Average Sale Price

Inventory 13 Average Sale Price

$173,417

Average Sale Price $357,056

Median Sale Price

$141,250

Median Sale Price $313,500

YEAR-END 2018 BUILDING SITES

YEAR-END 2018 COMMERCIAL The average and median sale prices increased significantly in 2018,

The number of building site sales remained level with last year, and

up 188% and 157%, respectively. The dollar volume also reflected a

inventory fell slightly, down 3%. The average sales price experienced

sharp increase, growing 1054% from $439,000 in 2017 to over $5

a dip, down 17% from a year earlier, but the median price held steady,

million this year. However, the small number of transactions in this

showing no change from 2017.

segment make year-over-year comparisons difficult.

# of Transactions

16 (up 300%)

Total Dollar Volume

$5,069,000

Inventory 58 (down 10%)

188%

Average Sale Price

# of Transactions

232 (no change)

Total Dollar Volume

$26,855,836

Inventory 388 (down 3%)

Average Sale Price

$316,812

Average Sale Price

$115,758

Median Sale Price

$225,000

Median Sale Price

$50,000

-17%

Average Sale Price

SOLD | List Price: $16,500 | Star Valley Ranch

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