Star Valley Real Estate Market Report | Mid-Year 2017

M I D -Y E A R

2017

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 indepth 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 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.

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 2017 mid-year. 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.

The average and median sales prices continue to increase. Considering buying or selling in the Star Valley area, please do not hesitate to contact one of our real estate professionals.

13%

AVERAGE SALE PRICE

4%

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.

Cover Image: SOLD | List Price: $544,900 | Alpine, Wyoming

M A RK E T H IGH LIGHTS

The overall market mid-year 2017 experienced a large increase in the number of transactions, up about 44% when compared to 2016 mid-year. There were 231 transactions in the first half of 2017 compared to 160 transactions in 2016. The average and median sale prices increased as well. The average sale price increased 13% and the median sale price increased by 4%. The total dollar volume increased 64%, from 35,590,464 to 58,243,986 in the first half of 2017.

$252,138 AVERAGE SALE PRICE

$187,500 231

TOTAL NUMBER OF TRANSACTIONS

MID-YEAR 2017 Overall Market

With increases in all segments, particularly single family and building sites, the Star Valley real estate market proved to be very strong in the first half of 2017.

MEDIAN SALE PRICE

9%

INCREASE IN INVENTORY

SOLD | List Price: $625,000 | Thayne, Wyoming

MID-YEAR 2017 Single Family

MID-YEAR 2017

Single family transactions increased 28% compared to mid-year 2016. There were 82 in 2016 and 105 transactions in first half of 2017. Total dollar volume increased substantially, up 51%, from $28,373,519 in the first half of 2016 to 43,087,763 in the first half of 2017.

This segment of the market showed increased activity, particularly the townhome segment. Total dollar volume increased substantially partly due to a large transaction.

Condominium & Townhome

Condominium

Townhome

# of Transactions 105 (up 28%)

# of Transactions 3 (no change)

# of Transactions 5 (up 400%)

Total Dollar Volume $43,087,763

Total Dollar Volume $399,000

Total Dollar Volume $1,574,800

Inventory 4 (down -20%)

Inventory 16 (down 5%)

Average Sale Price $133,000

Average Sale Price $314,960

Median Sale Price $155,000

Median Sale Price $248,000

Inventory 430 (up 8%) Average Sale Price $410,360 Median Sale Price $287,000

18%

AVERAGE SALE PRICE

MID-YEAR 2017 Commercial

MID-YEAR 2017 Building Sites

The average and median sale prices were down, 38% and 20% respectively.

There was a large increase in inventory, up about 84%.

Building sites experienced a 58% increase in number of transactions. This contributed to a 99% increase in total dollar volume, from $6,198,945 at midyear 2016 to $12,348,423 at mid-year 2017.

# of Transactions 2 (down -33%)

# of Transactions 116 (up 58%)

Total Dollar Volume $319,000

Total Dollar Volume $12,348,423

Inventory 83 (up 84%) Average Sale Price $159,500 Median Sale Price $159,500

-38% AVERAGE SALE PRICE

Inventory 681 (up 9%) Average Sale Price $106,452

25%

AVERAGE SALE PRICE

Median Sale Price $50,000

SOLD | List Price: $1,057,570 | Freedom, Wyoming

307 733 6060 tel 307 733 3483 fax www.starvalleyrealestate.com www.JHREA.com www.tetonvalleyidahorealestate.com www.westernranches.com 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 80 West Broadway PO Box 4897 Jackson, WY 83001 270 W. Pearl Jackson, WY 83001 Snow King Resort Hotel Jackson, WY 83001 Snake River Sporting Club Jackson, WY 83001 65 S Main St Driggs, ID 83422 208 354 7325 tel