M I D -Y E A R
2018
STAR VAL LE Y R EAL E STAT E M A R K ET R EP ORT
The Market Report This report gives a broad overview of the Star Valley real estate market, however, each neighborhood and property in the Star Valley area is unique and requires individual analysis for an accurate estimate of value and the market conditions which affect the value. Contact any of our professionals at Jackson Hole Real Estate Associates for a more indepth analysis of a specific neighborhood or property. Jackson Hole Real Estate Associates exclusively owns and maintains the oldest and most comprehensive market database. No other real estate company or agent has the resources available to offer this depth of expertise or insight regarding current or previous market conditions. The unmatched resources and knowledge of Jackson Hole Real Estate Associates, the largest and most dynamic real estate company in the region, combined with the largest independent affiliate networks, Christie’s International Real Estate and Leading Real Estate Companies of the World, offer the ideal balance of local expertise and global reach.
On behalf of our team of dedicated professionals at Jackson Hole Real Estate Associates, we are pleased to present our comprehensive market report for the 2018 mid-year. In this detailed report, you will find information on the market segments making up the Star Valley area. As the market leader, we have developed a more dynamic report that sheds fresh light on the insights and trends that are shaping our real estate market.
18%
AVERAGE SALE PRICE
6%
MEDIAN SALE PRICE
* The statistics used in this report are from the Teton Board of Realtors Multiple Listing Service (MLS) * This report does not go into detail on every segment of the market, but is intended to offer an overview of general market conditions. Statistics are cumulative. * All statistics are supplied by sources that have been deemed reliable but are not guaranteed. Cover Image: SOLD | List Price: $429,900 | Alpine, Wyoming
M A RK E T H IGH LIGHTS
MID-YEAR 2018 Overall Market
The Star Valley, Wyoming market remained strong in the first half of 2018. Transactions were up 5% and total dollar volume was up 25% from $59,559,985 in the first half of 2017 to $74,182,875 in the first half of 2018. The average and median sale prices increased as well.
$302,787 AVERAGE SALE PRICE
Inventory continues to be low, down 6% in the overall market and down 13% in the single family segment.
$201,000 245
TOTAL NUMBER OF TRANSACTIONS
MEDIAN SALE PRICE
-6%
DECREASE IN INVENTORY
SOLD | List Price: $549,000 | Alpine, Wyoming
MID-YEAR 2018 Single Family
MID-YEAR 2018
Total dollar volume increased substantially, up 45%, from $43,087,763 in the first half of 2017 to 62,479,655 in the first half of 2018. Inventory decreased 13%, but average and median sale prices continued to increase, up 15% and 10%.
This segment of the market showed increased activity, particularly the condominium segment. In the condominium segment, average and median sale prices increased, up 94% and 66%.
Condominium & Townhome
Condominium
Townhome
# of Transactions 132 (up 25%)
# of Transactions 2 (down -33%)
# of Transactions 4 (down -20%)
Total Dollar Volume $62,479,655
Total Dollar Volume $517,500
Total Dollar Volume $1,096,500
Inventory 12 (up 200%)
Inventory 16 (no change)
Average Sale Price $258,750
Average Sale Price $274,125
Median Sale Price $258,750
Median Sale Price $270,250
Inventory 378 (down -13%) Average Sale Price $473,331 Median Sale Price $316,000
15%
AVERAGE SALE PRICE
MID-YEAR 2018 Commercial
MID-YEAR 2018 Building Sites
The average and median sale prices were up, 50% and 6% respectively. There was a large increase in total dollar volume, up about 425%, from $319,000 at mid-year 2017 to $1,675,001 at mid-year 2018.
Building sites experienced a 13% decrease in number of transactions, and total dollar volume decreased by 36%, from $13,345,422 at mid-year 2017 to $8,414,219 at mid-year 2018.
# of Transactions 7 (up 200%)
# of Transactions 100 (down -13%)
Total Dollar Volume $1,675,001
Total Dollar Volume $8,414,219
Inventory 87 (up 84%) Average Sale Price $239,286 Median Sale Price $200,000
50%
AVERAGE SALE PRICE
Inventory 686 (down -2%) Average Sale Price $84,142
-26% AVERAGE SALE PRICE
Median Sale Price $46,500
SOLD | List Price: $85,000 | Alpine, Wyoming
307 733 6060 tel 307 733 3483 fax www.starvalleyrealestate.com www.JHREA.com www.tetonvalleyidahorealestate.com www.westernranches.com PO Box 3225 46 Iron Horse Drive Alpine, WY 83128 307 654 7575 tel PO Box 846 235 S Main St Thayne, WY 83127 307 883 7575 tel 80 West Broadway PO Box 4897 Jackson, WY 83001 270 W. Pearl Jackson, WY 83001 Snow King Resort Hotel Jackson, WY 83001 Snake River Sporting Club Jackson, WY 83001 65 S Main St Driggs, ID 83422 208 354 7325 tel