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Teton Valley Real Estate Market Report
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Get to know Compass Real Estate of Teton Valley
Compass is the fastest growing and most technologically advanced real estate organization in the world. We are the benchmark for innovation, marketing prowess and programming. This translates to better exposure for our clients and more successful deals.
evolving over the last few years. As a market leader in Teton Valley, we strive to stay ahead of the competition by adopting and implementing forward thinking change. Compass is home to more than 19,000 of the top agents in 150+ cities across the country; our network connects us directly with similar luxury brokerages and agents in many of the markets that are most important to us. This season in Teton Valley, our local team is even more equipped with the tools, information and insider insight that supports you in the process of buying or selling property. Please enjoy our Year-To-Date Market Report. And, as always, we are here as your trusted advisor, armed with the tools needed to make your real estate experience a pleasant and successful process.
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The real estate business has been rapidly
T H E M O S T A C C U R AT E R E P O R T I N T E T O N VA L L E Y.
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Welcome to our 2021 Quarter Three Market Report
We are pleased to report that Compass Real Estate has surpassed all other brokerages in Teton Valley and is #1 in sales volume! Our dollar volume increased 5x YTD 2021 vs. 2020 ensuring that our team provides you, our clients, the most comprehensive insight in the Teton Valley Market.
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To start your search of all active Teton Valley listings, scan the QR code.
"W TET O
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 a legacy of excellence that honors and celebrates our people and the exceptional place we call home.
HIGHLIGHTS
The Teton Valley Market
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With its wide open space, gorgeous mountain views and exceptional quality of life, it’s no surprise that the popularity of Teton Valley is continuing to grow. Surrounded by almost 3 million acres of National Parks, National Forest, and wilderness, the rush to Teton Valley has been a trend in motion for quite some time. 2021 has seen growth like never before, pushing the demand for local real estate to new heights.
The Teton Valley market has performed well Q3 2021 vs. Q3 2020, even with a lack of inventory. Total number of transactions was up 36% and drove up total dollar volume which nearly doubled. The overall average sales price jumped to 44% to reach a new high of $505K.
The average sale price of singlefamily homes in Teton Valley topped the $1M mark for the
first time in history. Vacant land transactions increased 68% increasing dollar volume 200%, Q3 2021 vs. Q3 2020. Average days on market decreased across the board, in all market segments. Which we can only expect to continue as inventory continues to tighten as we move into quarter four.
Total Dollar Volume 96% Increase YOY
$505,596 Average Sale Price 44% Increase YOY
$250,000 Median Sale Price 3% Increase YOY
893
Total Transactions 36% Increase YOY
6
336
Active Listings 1% Increase YOY
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$451,497,127
Sales Distribution by Segment Single Family
24%
Condo/Townhome
6%
Vacant Land
67%
Commercial
2% <1%
Other
Sales Volume Year-to-Date $80M $70M $60M $50M $40M $30M $20M $10M $5M Jan.
Feb.
Mar.
April
May
June
July
Aug.
Sept
Oct.
2021 Data
Nov.
Dec.
2020 Data
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HIGHEST SALE
$11,999,000 *List Price
LOWEST SALE
$32,500
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Transaction Distribution by Location
Alta: 23 Victor: 348 Driggs: 310
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Tetonia: 212
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23
310
348
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SOLD LIST PRICE: $3, 500, 000 DRIGGS
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Single Family The average price of single-family homes in Teton Valley rose dramatically, up 58% to $1M YTD 2021 vs. 2020. The number of transactions stayed flat; a clear indicator that homes in the higher price range, such as homes in Tributary, a Compass represented resort, are selling briskly. Average days on market have decreased 44% and total sales volume increased 59% 2021 vs. 2020.
Number of Transactions 214 Total Dollar Volume $226,719,950 Minimum Price Sold $219,000
59% ▲ 133% ▲
Maximum Price Sold $3,395,000
13% ▲
Average Sale Price $1,059,439
58% ▲
Median Sale Price $750,000
39% ▲
Average Days on the Market 86 Number Pending Transactions 81 Inventory 47
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-44% ▼
Condo & Townhome SOLD LIST PRICE: $385,000 V I C TO R
The total number of condo and townhome transactions dipped 15% quarter three 2021 vs. 2020, but the total dollar volume has increased 6% pushing the average sales price up 23%.
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The median sale price saw a 29% increase and average days on market dropped by 12% as demand for the convenience of condominium and townhome living increases in Teton Valley.
Number of Transactions 58
-15% ▼
Total Dollar Volume $22,854,000
6% ▲
Minimum Price Sold $170,000
7% ▲
Maximum Price Sold $849,000
74% ▲
Average Sale Price $391,093
23% ▲
Median Sale Price $404,250
29% ▲
Average Days on the Market 79
-12% ▼
Number Pending Transactions 19 Inventory 10
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SOLD LIST PRICE: $800, 000 T E TO N I A
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Vacant Land The land segment of the Teton Valley market is gaining significant traction. Transaction volume rose 68% 2021 vs. 2020 and the average sales price is up 79%. Average days on market dropped by 42% as well-priced parcels traded more briskly. All of this land sales activity drove total sales volume up 200%.
Number of Transactions 580 Total Dollar Volume $131,566,017
200% ▲
Minimum Price Sold $32,500
55% ▲
Maximum Price Sold $4,500,000
114% ▲
Average Sale Price $226,838
79% ▲
Median Sale Price $160,000
88% ▲
Average Days on the Market 155 Number Pending Transactions 86 Inventory 253
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68% ▲
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-42% ▼
Commercial
SOLD LIST PRICE: $ 1 , 49 9, 0 0 0 DRIGGS
As the economy of Teton Valley continues to thrive, there was an increase in commercial sales 2021 vs. 2020. Total dollar volume doubled and the average sale price rose moderately to $553K.
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Inventory is holding steady, and the overall average days on market has dropped by 52%.
Number of Transactions 18
38% ▲
Total Dollar Volume $9,952,000
50% ▲
Minimum Price Sold $140,000
-11% ▼
Maximum Price Sold $1,845,000
48% ▲
Average Sale Price $552,889
9% ▲
Median Sale Price $532,500
41% ▲
Average Days on the Market 251 Number Pending Transactions 4 Inventory 9
-32% ▼
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SOLD LIST PRICE: $ 39 9, 0 0 0 DRIGGS
While the Farm and Ranch segment increased, there are relatively fewer sales in this part of the market in Teton Valley. Due to large sales in the Victor and Alta area, total dollar volume rocketed 388% to $59M. Average sales price increased 144% to nearly $3M 2021 vs. 2020.
Number of Transactions 20
100% ▲
Total Dollar Volume $58,778,160
388% ▲
Minimum Price Sold $399,000
◀▶
Maximum Price Sold $11,999,000
471% ▲
Average Sale Price $2,938,908
144% ▲
Median Sale Price $1,297,580 Average Days on the Market 226 Number Pending Transactions 5 Inventory 18
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Farm & Ranch
T E TO N VA L L E Y I DA H O R E A L E STAT E . C O M
91% ▲ -52% ▼
307.733.6060 COMPASS.COM JHREA.com tetonvalleyidahorealestate.com starvalleyrealestate.com westernranches.com 80 West Broadway Jackson, WY 83001 3200 McCollister Drive Teton Village, WY 83025 270 W Pearl Jackson, WY 83001 Snake River Sporting Club Jackson, WY 83001 46 Iron Horse Drive Alpine, WY 83128 307.654.7575 235 S Main Street Thayne, WY 83127 307.883.7575 65 S Main Street Driggs, ID 83422 208.354.7325 501 Huntsman Springs Driggs, ID 83422