Teton Valley Real Estate Market Report | Year End 2019

MARKET REPORT WEST SIDE OF THE TETONS YEAR END

2019

Featured Property: #MQG72H

WEST SIDE OF THE TETONS — 2019

Featured Property: #EBSMG4

SALES VOLUME VS. UNITS SOLD YEAR TO DATE DEC. 2009-2019

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

2019

While the overall number of transactions in Teton Valley, Idaho, and Alta, Wyoming, only increased 2.7% in the last year (or 564 sales in 2018 vs. 579 sales in 2019), the total dollar volume of real estate sales jumped more than 14% (or $157.5M in 2018 vs. $179.9M in 2019).

Despite a general lack of inventory, individual home sales grew nearly 12% year over year. The large majority of the sales activity in the last 12 months (78.4%) occurred in and around the towns of Victor and Driggs (454 sales out of a total of 579).

MEDIAN PRICES & MARKET SHARE

Featured Property: #XJ79MP

AVERAGE SOLD PRICE COMPARISON

MARKET SHARE BY SALES UNITS

YEAR END DEC. 31, 2018 VS. 2019

YEAR TO DATE 2019

YEAR END 2018 YEAR END 2019

$600K

69

2

+6%

43

178

51

$500K $400K

92

+3%

$300K $200K

+13%

$100K

SINGLE FAMILY

CONDOS & TOWNHOMES

BUILDING SITES

172 84 98

115 152

The median home price (which in 2019 was a 4-bedroom, 2-bath home on 0.38 acres in Victor) rose from $395,000 to $450,000 (or a 13.9% increase in the last 12 months). The average home sale price increased

JACKSON HOLE SOTHEBY’S INTERNATIONAL REALTY

AT A GLANCE

CURRENT AREA STATS

6.5% from $490,000 in 2018 to $522,000 in 2019.

Unit Sales on Individual Lots Since Year End 2018

% Change in Median Home Price Since Year End 2019

Teton Valley Realty

Century 21 Teton Valley

Alta Realty

Four Peaks Real Estate

Jackson Hole Real Estate Associates

Berkshire Hathaway

Silver Peaks Realty

-3%

+13.9%

Sage Realty Group

West Group Real Estate Spitzer Realty, LLC

UNIT SALES & SALES VOLUME

Featured Property: #63EJ43

SALES VOLUME BY TYPE

UNIT SALES BY TYPE

YEAR TO DATE DEC. 2018 VS. 2019

YEAR TO DATE DEC. 2018 VS. 2019

YEAR END 2018

YEAR END 2018

YEAR END 2019

$150M

282

YEAR END 2019

286

279

252

$120M $90M $60M $30M

3 RESIDENTIAL

BUILDING SITES

FARM & RANCH LAND

COMMERCIAL & OTHER

RESIDENTIAL

BUILDING SITES

SALES VOLUME BY AREA

UNIT SALES BY AREA

YEAR TO DATE DEC. 2018 VS. 2019

YEAR TO DATE DEC. 2018 VS. 2019

YEAR END 2018

YEAR END 2018

YEAR END 2019

8

FARM & RANCH LAND

22

10

COMMERCIAL & OTHER

YEAR END 2019

$100M 251

254

$80M 178

$60M

200

$40M

100

$20M

35

ALTA, WY

# of Residential Properties Sold Year End 2019

VICTOR

#

282

DRIGGS

Average Residential Sale Price Year End 2019

TETONIA

$467,551

99

26

ALTA, WY

% Change in Average Residential Sales Price from Year End 2018

VICTOR

+3.9%

DRIGGS

TETONIA

Average Single Family Home Days on Market

251

MAIN OFFICE

FOUR SEASONS RESORT

TETON MOUNTAIN LODGE

185 WEST BROADWAY JACKSON, WYOMING 83001

7680 GRANITE LOOP ROAD TETON VILLAGE, WYOMING 83025

3385 WEST CODY LANE TETON VILLAGE, WYOMING 83025

EAST BROADWAY

SNAKE RIVER LODGE & SPA

TETON PINES RESORT

110 EAST BROADWAY JACKSON, WYOMING 83001

7710 GRANITE LOOP ROAD TETON VILLAGE, WYOMING 83025

3415 NORTH PINES WAY WILSON, WYOMING 83014

HOTEL TERRA

VILLAGE MARKET

JACKSON HOLE RACQUET CLUB

3335 WEST VILLAGE DRIVE TETON VILLAGE, WYOMING 83025

3200 MCCOLLISTER DRIVE TETON VILLAGE, WYOMING 83025

3535 NORTH MOOSE-WILSON ROAD WILSON, WYOMING 83014

TETON VALLEY, IDAHO ONE SOUTH MAIN STREET DRIGGS, IDAHO 83422

JHSIR.COM

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.