2017 Real Estate Market Update
2017 proved to be another great year in the Teton Valley, ID and WY Real Estate Market with appreciation in every sector of the market. Total dollar volume sold in Teton Valley, ID and Alta, WY increased from $96,265,424 in 2016 to $122,697,347 in 2017 (a robust 27% increase). The total number of units sold stayed relatively the same; 416 in 2016 compared to 433 in 2017. Therefore, a strong indicator of appreciation throughout our market.
Single Family Building Sites
The single-family lot average price saw the largest percentage of gain in all sectors of the market. In 2016 the average price per lot was $82,000. In 2017, we saw a substantial jump in average price to $103,000. Part of this increase can be attributed to sales in Alta, which can on average be 2 to 3x that of a lot in Idaho. Another factor in this increase is probably the lack of residential homes and Buyers opting to build.
Single Family Homes
The Single-Family Residential Market continues to grow in Teton Valley. The total number of homes sold increased from 166 in 2016 to 200 in 2017 (a 20% increase). The average home sale price in 2016 was $386,000 and we closed out 2017 with an average sales price of $428,000 (a 10% increase).
Townhomes and Condominiums
The townhome and condominium market also continued to grow in 2017. The average price per unit increased from $228,000 in 2017, to $251,000 in 2017 (a 10% increase).
Please call Grand Targhee Realty for a complete inventory of the properties in Teton Valley. We can easily provide a Broker Price Opinion if you are considering the sale of your property. If you are thinking of pursuing a Teton Valley sale or investment acquisition, we look forward to working with you.