MARKET REPORT WEST SIDE OF THE TETONS YEAR END
2018
Featured Property: #FXG5KB
WEST SIDE OF THE TETONS — 2018 SALES VOLUME VS. UNITS SOLD YEAR TO DATE DEC. 2009-2018
SALES VOLUME
SALES VOLUME
UNITS SOLD
UNITS SOLD
$180M
600
$160M 500 $140M $120M
400
$100M 300
$80M $60M
200
$40M 100 $20M 2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
Unit and sales volumes continue to report positive gains over the past six years. Since 2013, sales volume has risen 86% and unit volumes are up 57%. Average sales price has seen a corresponding increase—up 19% within the five year period. 2018 saw an 11.6% increase in sales volume and 10.6% increase in unit volume. Residential prices continue to rise as demand for more affordable housing options remains strong throughout the greater geographic area. 75% of all transactions within the West Side of the Tetons market region occurred within Victor and Driggs (MLS areas 16 and 17).
MEDIAN PRICES & MARKET SHARE
Featured Property: #EBSMG4
MEDIAN SOLD PRICE COMPARISON
MARKET SHARE BY SALES VOLUME
YEAR TO DATE DEC. 31, 2016 VS. 2017
YEAR TO DATE 2017
YEAR END 2017 YEAR END 2018
$450K
2.5%
+16%
$400K $350K
16.9%
4.7%
+1%
$300K
10.6%
4.7%
$250K $200K
4.7%
$150K
+8%
$100K $50K SINGLE FAMILY
CONDOS & TOWNHOMES
BUILDING SITES
16.6%
5.6% 7.3%
10.1% 8%
Median price of single family rose 16% on fewer
8.3%
available listings (down 28% in one year). Median price of building sites increased slightly also reflecting a slowing of new inventory—which fell 6%
JACKSON HOLE SOTHEBY’S INTERNATIONAL REALTY
AT A GLANCE
CURRENT AREA STATS
since December, 2017.
Unit Sales on Individual Lots Since Year End 2017
% Change in Median Home Price Since Year End 2017
Teton Valley Realty
Four Peaks Real Estate
Alta Realty
Berkshire Hathaway
Jackson Hole Real Estate Associates
West Group Real Estate
Silver Peaks Realty
+27.5%
+16%
Sage Realty Group All Seasons Resort Realty, LLC
Spitzer Realty, LLC All Other (includes 10 other brokerages)
UNIT SALES & SALES VOLUME
Featured Property: #MVB84F
SALES VOLUME BY TYPE
UNIT SALES BY TYPE
YEAR TO DATE DEC. 2017 VS. 2018
YEAR TO DATE DEC. 2017 VS. 2018
YEAR END 2017
YEAR END 2017
YEAR END 2018
$120M
265
$100M
YEAR END 2018
264
256 207
$80M $60M $40M $20M 6 RESIDENTIAL
BUILDING SITES
FARM & RANCH LAND
COMMERCIAL & OTHER
RESIDENTIAL
BUILDING SITES
FARM & RANCH LAND
SALES VOLUME BY AREA
UNIT SALES BY AREA
YEAR TO DATE DEC. 2017 VS. 2018
YEAR TO DATE DEC. 2017 VS. 2018
YEAR END 2017
YEAR END 2017
YEAR END 2018
11
8
13
COMMERCIAL & OTHER
YEAR END 2018
$70K 239
$60K 205
$50K
184
169
$40K $30K
92 68
$20K $10K
17 ALTA, WY
# of Residential Properties Sold Year End 2018
VICTOR
#
256
DRIGGS
WEST SIDE OF TETON VALLEY
Average Residential Sale Price Year End 2018
TETONIA
$447,900
34
ALTA, WY
% Change in Average Sales Price from Year End 2017
15 VICTOR
DRIGGS
+15.1%
*The average number of months it takes to sell a property at the current (12 month average) sales pace.
7
WEST SIDE OF TETON VALLEY
Average Single Family Home Absorption Rate*
TETONIA
10 MO.
MAIN OFFICE 185 WEST BROADWAY
EAST BROADWAY 110 EAST BROADWAY
FOUR SEASONS RESORT 7680 GRANITE LOOP ROAD
HOTEL TERRA 3335 WEST VILLAGE DRIVE
MANGY MOOSE 3295 VILLAGE DRIVE
SNAKE RIVER LODGE & SPA 7710 GRANITE LOOP ROAD
TETON MOUNTAIN LODGE 3385 WEST CODY LANE
VILLAGE MARKET 3200 MCCOLLISTER DRIVE
WILSON 1230 NORTH IDA LANE
JACKSON HOLE RACQUET CLUB 3535 NORTH MOOSE-WILSON ROAD
TETON PINES RESORT 3415 NORTH PINES WAY
TETON VALLEY, IDAHO ONE SOUTH MAIN STREET
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 twelve and sixteen through nineteen, 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.