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YEAR-END

2016

STAR VAL LE Y R EAL E STAT E M A R K ET R EP ORT


The Market Report 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 the market conditions which affect the value. Contact any of our professionals at Jackson Hole Real Estate Associates for a more in-depth analysis of a specific neighborhood or property. Jackson Hole Real Estate Associates exclusively owns and maintains the oldest and most comprehensive market database. No other real estate company or agent has the resources available to offer this depth of expertise or insight regarding current or previous 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 luxury real estate affiliation, Christie’s International Real Estate, offer the ideal balance of local expertise and global reach.

On behalf of our team of dedicated professionals at Jackson Hole Real Estate Associates, we are pleased to present our comprehensive market report for the 2016 year-end. 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 more dynamic report that sheds fresh light on the insights and trends that are shaping our real estate market. In 2016, the average and median sales prices continued to increase.

14%

AVERAGE SALE PRICE

12%

MEDIAN SALE PRICE

* 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. Statistics are cumulative. * All statistics are supplied by sources that have been deemed reliable but are not guaranteed.


M A RK E T H IGH LIGHTS

The overall market in 2016 experienced a decrease in the number of transactions, down about 2% when compared to 2015 year-end. There were 417 transactions in 2015 compared to 407 transactions in 2016. While the number of transactions fell, the average and median sale prices increased. The average sale price increased by 14% and the median sale price increased by 12%. The total dollar volume increased 11%, from 91,697,183 in 2015 to 101,735,133 in 2016.

$249,963 AVERAGE SALE PRICE

$189,500 407

YEAR-END 2016 Overall Market

The inventory shortage showed only a slight change in 2016. The number of active listings increased 10%.

MEDIAN SALE PRICE

TOTAL NUMBER OF TRANSACTIONS

10%

INCREASE IN INVENTORY

HIGHEST SALE $7,250,000 (farm and ranch) LOWEST SALE $5,000 (lot in Star Valley Ranch)


SOLD | List Price: $774,900 | Smoot, Wyoming

YEAR-END 2016 Single Family

YEAR-END 2016 Condominium & Townhome

At 2016 year-end, single family transactions were down 14% compared to year-end 2015. There were 206 in 2016 and 241 transactions in 2015. Total dollar volume showed no change. However, the average sale price increased by 16% and median sale price increased by 10%.

This segment of the market showed increased activity compared to 2015 with 16 total transactions. Total dollar volume increased substantially partly due to a large transaction in Alpine Village. There were 18 new condominium & townhome listings on the market at the end of 2016. Condominium

Townhome

# of Transactions 206 (down -14%)

# of Transactions 9 (up 50%)

# of Transactions 7 (up 16%)

Total Dollar Volume $68,705,722

Total Dollar Volume $2,365,000

Total Dollar Volume $1,577,500

Inventory 5 (down -54%)

Inventory 13 (up 30%)

Average Sale Price $262,778

Average Sale Price $225,357

Median Sale Price $85,000

Median Sale Price $217,000

Inventory 390 (up 8%) Average Sale Price $333,523 Median Sale Price $264,500

16%

AVERAGE SALE PRICE


YEAR-END 2016 Commercial

YEAR-END 2016 Vacant Land

The average and median sale prices were down at the end of 2016, 27% and 61% respectively. Total dollar volume and number of transactions were also down.

Building sites experienced a 14% increase in number of transactions. This contributed to a 102% increase in total dollar volume, from $9,311,273 at the end of 2015 to $18,879,569 at the end of 2016.

# of Transactions 5 (down -44%)

# of Transactions 171 (up 14%)

Total Dollar Volume $933,900

Total Dollar Volume $18,879,569

Inventory 33 (up 32%) Average Sale Price $186,780 Median Sale Price $124,900

27%

AVERAGE SALE PRICE

Inventory 427 (up 14%) Average Sale Price $110,407

76%

AVERAGE SALE PRICE

Median Sale Price $59,450

SOLD | List Price: $724,900 | Bedford, Wyoming


307 733 6060  tel 307 733 3483  fax www.JHREA.com www.starvalleyrealestate.com www.tetonvalleyidahorealestate.com www.westernranches.com PO Box 4897 Jackson, WY 83001 80 West Broadway Jackson, WY 83001 270 W. Pearl 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

Star Valley Real Estate Market Report | 2016 Year-End  
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