Q3 Market Report
The Teton Valley Market
Welcome to the 2024 market report for Teton Valley, Idaho, where we explore the latest trends and developments in the real estate landscape.
The real estate market in Teton Valley, Idaho, has seen varied performance across different segments this year, with a total of 429 transactions marking a 3% increase, while the total dollar volume dipped 8% to $284.1 million. Current listings have grown by 9%, bringing the total to 415, offering more opportunities for buyers across the region.
In the single-family home segment, there were 118 transactions, reflecting a 13% decline, and total dollar volume dropped 15% to $153.7 million. However, the median sale price rose 5% to $997,000, with inventory up by 49% and pending transactions rising 36%, particularly in Victor, where most sales are occurring.
The condo and townhouse market saw 41 transactions, a 9% decrease, with total dollar volume down 11% to $24.1 million and a 2% decrease in the median sale price to $579,000. Despite these declines, pending transactions surged by 192%, and inventory grew by 12%, signaling potential future growth in this segment.
Vacant land has been a standout, with 256 transactions representing a 22% increase and total dollar volume up 29% to $86 million. The median sale price saw a modest 2% increase to $225,000, while pending transactions rose 10%, and the maximum price sold jumped by 55%, despite a 2% decrease in available inventory.
Overall, the market is showing resilience, with certain segments outperforming expectations and growing buyer interest across the board.
Understanding the evolving market conditions across all market segments will enable buyers, sellers, and real estate professionals to make informed decisions in this dynamic market.
Sales Volume
Sales
Segment
Transaction Distribution by Location
Single Family Homes
The single-family home segment in Teton Valley, Idaho, has seen some notable shifts this year. With 118 transactions, the market experienced a 13% decline in sales, while total dollar volume dropped 15%, totaling $153.7 million. Despite this, the median sale price rose by 5% to $997,000, signaling continued demand in this desirable area.
Inventory has surged by 49%, creating more opportunities for buyers. Pending transactions are up 36%, indicating strong buyer interest moving forward, despite the overall slowdown in completed sales.
Sold | List Price: $1,690,000 | Victor | Represented by Zachary Smith - Mountain Stamdard Realty
Market Stats
All of Teton Valley
Number of Transactions
Total Dollar Volume
Minimum Price Sold
Maximum Price Sold
Average Sale Price
Median Sale Price
Average Days on Market
Pending Transactions
Inventory
Market Stats by Area
Number of Transactions
Dollar Volume
Condo + Townhomes
The condo and townhouse segment in Teton Valley, Idaho, has experienced mixed trends this year. With 41 transactions, a 9% decrease, the market has seen a slight slowdown in sales, and total dollar volume has dropped by 11% to $24.1 million. The median sale price dipped by 2% to $579,000, reflecting modest adjustments in pricing.
Inventory is up by 12%, offering more options for prospective buyers. Most notably, pending transactions have skyrocketed by 192%, suggesting a strong resurgence in demand for condos and townhouses, potentially signaling a more active market in the near future.
Sold | List Price: $540,000 | Victor, ID | Represented by Zachary Smith - Mountain Standard Realty
Market Stats
All of Teton Valley
Number of Transactions
Total Dollar Volume
Minimum Price Sold
Maximum Price Sold
Average Sale Price
Median Sale Price
Average Days on Market
Pending Transactions
Inventory
Market Stats by Area
Victor Driggs
Number of Transactions
Total Dollar Volume
Average Sale Price
Median Sale Price
Vacant Land
The vacant land segment in Teton Valley, Idaho, is experiencing significant growth. With 256 transactions, a 22% increase, the market has shown strong activity, while the total dollar volume surged 29% to reach $86 million. The median sale price saw a modest 2% rise to $225,000, indicating steady demand for land in the region.
Interestingly, current inventory has decreased by 2%, suggesting that available land is being quickly absorbed by buyers. Pending transactions are up by 10%, and the maximum price sold has soared by 55%, reflecting both heightened interest and increased value in the upper end of the market.
Sold | List Price: $2,790,000 | Driggs | Represented by Carl Struttmann & Graham Fauple Mendenhall
Market Stats
All of Teton Valley Total
Number of Transactions
Market Stats by Area
Number of Transactions
Talk To An Expert
Experience the Compass Real Estate difference by working with Teton Valley’s leading real estate experts. We are a team of trusted advisors working collaboratively to leverage our collective knowledge and expertise to deliver fundamentally different service. For us, nothing matters more than creating legacy of excellence that honors and celebrates our people and the exceptional place we call home.
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307.733.6060
80 West Broadway Jackson, WY 83001
Snake River Sporting Club Jackson, WY 83001
46 Iron Horse Drive Alpine, WY 83128
307.216.3171
235 S Main Street Thayne, WY 83127
307.883.7575
8 North Main St. Victor, ID 83455
65 S Main Street
Driggs, ID 83422
307.216.3176