Q4 Market Report
The Star Valley Market
Welcome to the Q4 2024 Star Valley, Wyoming Market Report.
The Star Valley, Wyoming real estate market in 2024 showcased robust growth in transactions and total dollar volume despite mixed price trends across property types. Total transactions rose by 27% across all property types, climbing from 342 to 433 from 2023 to 2024. Average sale prices increased modestly by 2%, reaching $532,419, while the median sale price declined by 6%, down to $350,000.
Single-family homes were the star performer, contributing to a 40% rise in total dollar volume, which climbed from $179.3M in 2023 to $230.5M in 2024. The northern and central areas saw significant transaction increases, with southern regions experiencing a 55% rise in average sale price.
Condos and townhomes, however, saw a 53% decline in transactions and a 64% drop in dollar volume, pointing to reduced buyer demand in that segment. Active listings growth indicates a healthy market with expanding inventory.
Vacant land transactions grew by 44%, but price reductions of 40% in average sale price and stable
median prices kept the total dollar volume at 50% lower than the previous year. While transaction volume rose, the decline in sales price contributed to a 50% decline in total dollar volume.
Commercial properties also recorded mixed results with a 50% rise in sales but a 32% decline in total dollar volume due to a sharp 54% drop in average sale prices. Inventory increased overall, with active listings rising by 108%, while properties spent slightly longer on the market, reflecting buyer caution and selective purchasing trends.
This dynamic year underscores a nuanced market where activity surged, pricing varied, and buyer preferences shifted across property types. This market environment presents a dynamic environment for both buyers and sellers, offering opportunities and challenges in different property categories. 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.
Compass
Year-to-Date
Sales Distribution by Segment
Transaction Distribution by Location
North Star Valley: 115
Central Star Valley: 220
Southern Star Valley: 98
Single Family Homes
The single-family home market picturesque in Star Valley, Wyoming, saw remarkable growth in 2024, solidifying its position as the driving force of the local real estate sector. Total transactions increased by 22%, climbing from 168 sales in 2023 to 205 in 2024 as the total dollar volume also surged by 40%, from $127.2 million to $178.4 million. The average sale price rose by 15% to $870,155, and the median sale price grew by 12%, reaching $630,000, indicating sustained demand and upward momentum in pricing. Northern Star Valley saw a 16% rise in transactions, while the central region posted a 41% increase, and the southern region reported a near doubling of its average sale price, up 92% yearover-year. Inventory also expanded significantly, with active listings growing by 37%, providing more options for buyers. However, the average days on market dropped slightly by 4%, signaling continued buyer interest and competitive market conditions for single-family homes in 2024.
Sold | List Price: $6,388,500
South Star Valley | Represented by Patty Speakman
Market Stats
All of Star Valley
Number of Transactions
Total Dollar Volume
Minimum Price Sold
Sale Price
Median Sale Price
Average Days on Market
Pending Transactions
Inventory
Market Stats by Area
Number of Transactions Total Dollar Volume
Condo / Townhomes
Sold | List Price: $595,000 | North Star Valley | Represented by Patty Speakman
The condo and townhome market in Star Valley, Wyoming was heavily influenced by low inventory. Total transactions dropped by 53%, falling from 19 sales in 2023 to just 9 in 2024, while total dollar volume plunged by 64%, from $10.1 million to $3.6 million. The average sale price decreased by 25% to $400,000, and the median sale price fell by 15% to $420,000, reflecting waning demand in this segment.
The southern Star Valley region saw some activity with three recorded sales and an average sale price of $251,250, which had not been present in the prior year. While active listings doubled, rising by 100%, the average days on market fell by 53%, from 256 days to 121, suggesting that the few available properties sold more quickly. Overall, the condo and townhome market faced headwinds in 2024, driven by reduced buyer interest and limited transaction volume.
Market Stats
All of Star 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
Total Dollar Volume
Sale
Sale Price
Vacant Land
The vacant land market in Star Valley, Wyoming, experienced a notable increase in transaction activity in 2024, though this was accompanied by significant declines in pricing and total dollar volume. Total transactions rose by 44%, from 146 sales in 2023 to 210 in 2024, signaling growing interest in land acquisitions with a stable median sales price of $158,750. These price decreases led to a dramatic 50% reduction in total dollar volume, which declined from $76.6 million in 2023 to $38.3 million in 2024. Northern Star Valley saw a 19% increase in transactions, but total dollar volume dropped by 67%, reflecting a 52% decrease in average sale price. Central and southern regions experienced similar trends, with transactions up by 63% and 35%, respectively, but with substantial price declines driving lower dollar volumes. Active listings decreased by 6% to 139, while average days on market increased by 26% to 175, indicating a slower pace of sales despite heightened buyer interest. The vacant land market in 2024 showcased a complex dynamic of increased activity alongside declining values, likely driven by shifting buyer preferences and market conditions.
Sold | List Price: $699,00 | North Star Valley | Represented by Kendall Foreman
Market Stats
All of Star 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
Total Dollar Volume
Sale Price
The commercial land market in Star Valley, Wyoming, experienced a 50% increase in transactions in 2024, rising from 4 to 6 sales, but faced notable declines in pricing. The average sale price fell by 54% to $365,333, and the median sale price dropped by 47% to $395,000, resulting in a 32% decrease in total dollar volume, which fell from $3.2M to $2.2M. Northern Star Valley maintained a single transaction with an 78% drop in average price, while the southern region saw a 33% increase in sales but a 40% decline in average price. Active listings more than doubled, rising by 108%, while properties spent 43% more time on the market on average, reflecting a more cautious and value-driven approach among buyers.
List Price: $310,000 | Alpine, Wyoming | Represented by Diane Palmer
Market Stats
All of Star Valley
Number of Transactions
Total Dollar Volume
Minimum Price Sold Maximum Price Sold
Sale Price Median Sale Price
Average Days on Market
Pending Transactions
Inventory
Market Stats by Area
Number of Transactions Total Dollar Volume
Sale Price
Sale Price
Talk To An Expert
Experience the Compass Real Estate difference by working with Star 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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307.219.3171
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