A strong September that saw more than $28M in sales pushed Star Valley to the positive side of the ledger through Q3 compared to last year. The 294 transactions for the first nine months of 2025, however, represent a 7.2 percent decline compared to Q3 2024 when the Lincoln County market saw 317 closings.
The tepid performance in 2025 is also curious given the year-to-date performances of Teton County (up 12 percent on closings and 27 percent on volume) and Teton Valley, Idaho (up 2.5 percent on closings and nearly 40 percent on volume). One contrast compared to its neighbors is lackluster performance within the luxury segment of the market. Lincoln County has only
Sales Volume By Area
seen seven transactions in 2025 with a listing price in excess of $3M. In contrast, Teton Valley has seen 23 (its best year ever).
Another drag on Lincoln’s County overall performance has been the southern segment of the valley. While Alpine is up for both closings and volume – and Thayne is up on the year-to-date on volume as well – Afton has slipped 21 percent on closings compared to 2024 and 37.5 percent on volume.
Through Q3, the average Star Valley home price is up 2.4 percent over last year to $801,480. Home inventory is also up slightly (12.5 percent compared to last October) with 179 homes currently listed for sale.
Sales Volume By Price Category
YTD 2024 VS. 2025
Land & Ranches
Like the overall Star Valley market, vacant land sales have cooled in 2025. The 136 transactions across Lincoln County through Q3 was a 16 percent decline compared to 2024 when 162 parcels sold across the valley. 2025’s complementing sold dollar of $28M was also a 23 percent drop versus last year.
Alpine was the bright spot for this segment of the market, posting 40 of the 136 Star Valley sales (or 29.4 percent) for $10.6M in sold dollar volume. The 2.6 percent uptick in Alpine land closings was overshadowed by the complementing 24.2 percent in dollar volume compared to Q3 2024.
The median Star Valley land sale increased slightly to $159,000 (for a more than 5 acres in Freedom), up from $156,000 in 2024 (for 5 acres in Thayne). The average land sale price, however, fell 8.4 percent year over year to $206,490.
Inventory of parcels on the market remained constant in the last 12 months at about 220 active listings.
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Single Family Homes
Sales Volume By Area
With only a slight variance in nearly every sense, the Star Valley home segment of the market is keeping lockstep with 2024.
Four transactions separated Q3 2025 from last year (139 vs. 143). Sold dollar volume was also nearly identical ($111.4M compared to $111.9M). The median sale this year of $624,900 (for a 3-bedroom, 1,500 sq.ft. home on 5 acres in Thayne) was just $5,000 off from 2024’s median of $630,000 (for a 4-bedroom, 3,000 sq.ft. home on less than an acre in Bedford). Through Q3 2025, the average Lincoln County home price increased 2.4 percent to $801,480.
Lower mortgage interest rates promise to bring buyers back to the table. But any uptick in demand might be offset by a slight increase in listings currently for sale. Last October, 159 homes were offered for sale across the valley. This year, that number has grown to 179 active listings.
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Swan Valley, Idaho
Sales Volume By Area
2024 was a record-breaking year for Swan Valley. The $30.8M in total dollar volume was more than 2022 and 2023 combined. Eleven homes with a listing price of $1M accounted for more than $18M of the year-end total. Last year was a tough act to follow. Thus far in 2025, only three homes have sold in Swan Valley (and only one with a listing price of $1M or more).
Nine vacant land sales comprised nearly two-thirds of the 14 total transactions through Q3 2025. The average 2025 vacant land sale price of $181,167 was a 39 decline from last year.
The dozen sales of all property types with a listing price of less than $500,000 was the lone highlight when comparing Q3 2025 to last year. Twelve transactions at the lower end of the market represented a 20 percent increase over 2024 on sales in this price category, and the complementing dollar volume of nearly $3M was a 47.6 percent increase over 2024.
Inventory in the valley is also on the rise. Last October, 31 listings of all property types were available for sale across Swan Valley. One year later, that number has grown to 45.
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MAIN OFFICE
185 WEST BROADWAY AVENUE
JACKSON, WYOMING 83001
EAST BROADWAY
110 EAST BROADWAY AVENUE JACKSON, WYOMING 83001
HOTEL TERRA
3335 WEST VILLAGE DRIVE
TETON VILLAGE, WYOMING 83025
FOUR SEASONS RESORT
7680 GRANITE LOOP ROAD
TETON VILLAGE, WYOMING 83025
TETON MOUNTAIN LODGE 3385 WEST CODY LANE TETON VILLAGE, WYOMING 83025
TETON PINES RESORT
3415 NORTH PINES WAY WILSON, WYOMING 83014
STAR VALLEY
280 NORTH MAIN STREET THAYNE, WYOMING 83127
TETON VALLEY
10 NORTH MAIN STREET DRIGGS, IDAHO 83422
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 one through ten, 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.
