MARKET REPORT
STAR VALLEY, WY REAL ESTATE MARKET REPORT 2015 YEAR-END
THE STAR VALLEY REAL ESTATE MARKET LEADER
OVERALL MARKET The real estate market in Star Valley showed a positive increase in the number of sales for both single family homes and building sites in 2015 when compared to 2014. The total number of transactions increased 12%, from 373 sales in 2014 to 418 sales at the end of 2015. Sales volume increased from $85,040,349 to $92,232,683, but the average sales price actually decreased from $227,990 to $220,652. The overall trends of 2015 continued to show increased transactions and decreased inventory. Regarding inventory, at year-end 2015 there were 629 active listings in the Star Valley area. This is about a 10% decrease from 702 active listings at year-end 2014.
SINGLE FAMILY SEGMENT As of 2015 year-end, there were 241 single family home transactions, an approximate 22% increase when compared to 2014 yearend (196 single family transactions). Total dollar volume in the single family segment was up from $57,801,024 to $68,939,471 in 2015. Average sales price decreased about 3% from $294,903 to $286,056. Single family homes on average sold for 97% of list price. At year-end 2015, there were 151 single family listings on the market, a 21% decrease from year-end 2014 where there were 192 single family listings on the market.
RESIDENTIAL BUILDING SITE SEGMENT Building sites experienced a 1% increase in number of transactions, from 147 sales in 2014 to 149 sales year-end 2015. This contributed to a 49% decrease in total dollar volume, from $18,516,313 in 2014 to $9,311,273 at the end of 2015. The average sales price fell 50%, from $125,961 to $62,492. Inventory was still high in this segment of the market at year-end 2015, with 389 active building sites on the market. Although, this was an 8% decrease from year-end 2014 when there were 425 active building sites on the market.
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