Star Valley Market Report | 2014 Year End

MARKET REPORT

STAR VALLEY, WY REAL ESTATE MARKET REPORT 2014 YEAR END

THE STAR VALLEY REAL ESTATE MARKET LEADER

OVERALL MARKET The overall market experienced a 27% increase in the number of sales from 2013 to 2014. There were 372 sales in 2014 compared to 294 sales in 2013. Total dollar volume rose 26%, from $66,822,534 in 2013 to $84,240,349 in 2014. Although, the average sale price dropped by less than 1%, from $227,288 in 2013 to $226,453 in 2014. This can be attributed to the increased number of single family building sites sold in 2014.

Regarding inventory, at the end of 2014 there were 661 active listings in the Star Valley area. This number was slightly up from 631 active listings at the end of 2013. The number of active listings increased due to the number of single family building sites introduced to the market.

SINGLE FAMILY SEGMENT There were 195 single family homes sold in 2014. This number rose slightly from the 190 sold in 2013. Total dollar volume in the single family segment was up a substantial 31%, from $43,508,254 in 2013 to $57,001,024 in 2014. Single Family homes on average sold for 95% of list price. Single family inventory was down 19%. At the end of 2014, there were 173 single family listings on the market compared to the end of 2013.

THE STAR VALLEY REAL ESTATE MARKET EXPERIENCED A 27% INCREASE IN THE NUMBER OF SALES IN 2014. www.STARVALLEYREALESTATE.com | 307.883.7575 Thayne | 307.654.7575 Alpine

RESIDENTIAL BUILDING SITE SEGMENT

Property Showcase

Building sites had a significant increase in the number of sales in 2014. Sales climbed 72%, from 85 sales in 2013 to 147 sales in 2014. This was a 19% increase in total dollar volume, from $15,556,681 in 2013 to $18,516,313 in 2014. The average price fell 31%, from $182,020 in 2013 to $125,961 in 2014 due to the large amount of residential building sites sold in 2014. Inventory was still high in this segment of the market at the end of 2014 with 414 building sites on the active market. This was a 16% increase from the end of 2013 where 355 building sites were on the active market.

FARM AND RANCH SEGMENT

MLS #13-1325 $1,350,000

The farm and ranch segment of the market has continued to see little activity over the past two years. The average sale price in 2014 was down 82% compared to 2013. The average sale price in 2014 was $270,333, down from $1,512,000 in 2013. The total volume was also down in 2014, from $4,536,000 in 2013 to only $811,000 in 2014 (82% decrease). Important Note: There were only 2 farm and ranch sales reported in the MLS for the Star Valley area, and both were between 30-47 acres.

MLS #14-1127 $750,000

CONDOMINIUM SEGMENT Condominium sales increased from 4 in 2013, to 13 in 2014. This was a 225% increase. Total sales volume jumped, from $345,800 in 2013 to $3,902,000 in 2014. The average sales price also jumped a significant amount, from $86,450 in 2013 to $300,154 in 2014.

VALLEY STATS As of 2014 year end, the least expensive active listing in the Star Valley market was a .30 acre building site in Star Valley Ranch, listed for $8,500. The most expensive listing in the Star Valley market was a 562 acre ranch on the Salt River, with a 2,200 square foot home, listed for $4,700,000.

MLS #14-2325 $649,000

The least expensive Star Valley listing sold in 2014 was a .40 acre building site in Star Valley Ranch for $3,500.

The most expensive Star Valley listing that sold in 2014 was a home in the Double L Ranch subdivision for $3,600,000.

MLS #14-1669 $459,000 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. * The statistics used in this report are from the Teton 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.

For additional information or a market update in your area, please do not hesitate to contact one of our real estate professionals.

Star Valley (Thayne) 235 S. Main | 307.883.7575

Jackson Hole (Main) 80 W. Broadway | 307.733.6060

Star Valley (Alpine)

46 Iron Horse Dr. | 307.654.7575

Jackson Hole 270 W. Pearl

Jackson Hole

Teton Valley (Driggs)

Snow King Resort Hotel

65 S. Main | 208.354.7325

www.STARVALLEYREALESTATE.com | 307.883.7575 Thayne | 307.654.7575 Alpine