West Side of the Tetons Real Estate Market Report | Year End 2018

MARKET REPORT WEST SIDE OF THE TETONS YEAR END

2018

Featured Property: #FXG5KB

WEST SIDE OF THE TETONS — 2018 SALES VOLUME VS. UNITS SOLD YEAR TO DATE DEC. 2009-2018

SALES VOLUME

SALES VOLUME

UNITS SOLD

UNITS SOLD

$180M

600

$160M 500 $140M $120M

400

$100M 300

$80M $60M

200

$40M 100 $20M 2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

Unit and sales volumes continue to report positive gains over the past six years. Since 2013, sales volume has risen 86% and unit volumes are up 57%. Average sales price has seen a corresponding increase—up 19% within the five year period. 2018 saw an 11.6% increase in sales volume and 10.6% increase in unit volume.

Residential prices continue to rise as demand for more affordable housing options remains strong throughout the greater geographic area. 75% of all transactions within the West Side of the Tetons market region occurred within Victor and Driggs (MLS areas 16 and 17).

MEDIAN PRICES & MARKET SHARE

Featured Property: #EBSMG4

MEDIAN SOLD PRICE COMPARISON

MARKET SHARE BY SALES VOLUME

YEAR TO DATE DEC. 31, 2016 VS. 2017

YEAR TO DATE 2017

YEAR END 2017 YEAR END 2018

$450K

2.5%

+16%

$400K $350K

16.9%

4.7%

+1%

$300K

10.6%

4.7%

$250K $200K

4.7%

$150K

+8%

$100K $50K SINGLE FAMILY

CONDOS & TOWNHOMES

BUILDING SITES

16.6%

5.6% 7.3%

10.1% 8%

Median price of single family rose 16% on fewer

8.3%

available listings (down 28% in one year). Median price of building sites increased slightly also reflecting a slowing of new inventory—which fell 6%

JACKSON HOLE SOTHEBY’S INTERNATIONAL REALTY

AT A GLANCE

CURRENT AREA STATS

since December, 2017.

Unit Sales on Individual Lots Since Year End 2017

% Change in Median Home Price Since Year End 2017

Teton Valley Realty

Four Peaks Real Estate

Alta Realty

Berkshire Hathaway

Jackson Hole Real Estate Associates

West Group Real Estate

Silver Peaks Realty

+27.5%

+16%

Sage Realty Group All Seasons Resort Realty, LLC

Spitzer Realty, LLC All Other (includes 10 other brokerages)

UNIT SALES & SALES VOLUME

Featured Property: #MVB84F

SALES VOLUME BY TYPE

UNIT SALES BY TYPE

YEAR TO DATE DEC. 2017 VS. 2018

YEAR TO DATE DEC. 2017 VS. 2018

YEAR END 2017

YEAR END 2017

YEAR END 2018

$120M

265

$100M

YEAR END 2018

264

256 207

$80M $60M $40M $20M 6 RESIDENTIAL

BUILDING SITES

FARM & RANCH LAND

COMMERCIAL & OTHER

RESIDENTIAL

BUILDING SITES

FARM & RANCH LAND

SALES VOLUME BY AREA

UNIT SALES BY AREA

YEAR TO DATE DEC. 2017 VS. 2018

YEAR TO DATE DEC. 2017 VS. 2018

YEAR END 2017

YEAR END 2017

YEAR END 2018

11

8

13

COMMERCIAL & OTHER

YEAR END 2018

$70K 239

$60K 205

$50K

184

169

$40K $30K

92 68

$20K $10K

17 ALTA, WY

# of Residential Properties Sold Year End 2018

VICTOR

#

256

DRIGGS

WEST SIDE OF TETON VALLEY

Average Residential Sale Price Year End 2018

TETONIA

$447,900

34

ALTA, WY

% Change in Average Sales Price from Year End 2017

15 VICTOR

DRIGGS

+15.1%

*The average number of months it takes to sell a property at the current (12 month average) sales pace.

7

WEST SIDE OF TETON VALLEY

Average Single Family Home Absorption Rate*

TETONIA

10 MO.

MAIN OFFICE 185 WEST BROADWAY

EAST BROADWAY 110 EAST BROADWAY

FOUR SEASONS RESORT 7680 GRANITE LOOP ROAD

HOTEL TERRA 3335 WEST VILLAGE DRIVE

MANGY MOOSE 3295 VILLAGE DRIVE

SNAKE RIVER LODGE & SPA 7710 GRANITE LOOP ROAD

TETON MOUNTAIN LODGE 3385 WEST CODY LANE

VILLAGE MARKET 3200 MCCOLLISTER DRIVE

WILSON 1230 NORTH IDA LANE

JACKSON HOLE RACQUET CLUB 3535 NORTH MOOSE-WILSON ROAD

TETON PINES RESORT 3415 NORTH PINES WAY

TETON VALLEY, IDAHO ONE SOUTH MAIN STREET

Although the foregoing data has been compiled from sources deemed reliable, Jackson Hole Sotheby’s International Realty does not guarantee its authenticity. It is intended for informational purposes only, is subject to prior sale, error, revision, and cancellation without notice, and should be independently verified with the source of such information. Source data is provided by Teton Board of Realtors MLS for areas twelve and sixteen through nineteen, and supplemented with proprietary sales data for $0 sales. ®,™ and SM are licensed trademarks to Sotheby’s International Realty Affiliates LLC. An Equal Opportunity Company. Equal Housing Opportunity. Jackson Hole Sotheby’s International Realty is Independently Owned and Operated.