Fall in Teton Valley
We have had an amazing summer with plenty of sun, live music in Victor and Grand Targhee Resort, farmer and art markets in Driggs, and endless recreational opportunities. Grand Targhee Resort hosted a very successful 8th annual Wydaho Rendezvous Mountain Bike Fest on Sept 1-4. Teton Valley has much to offer in the last days of summer and the gorgeous changing colors of Fall.
Total Number of Properties Sold Shows Increase
Teton Valley Real Estate values saw an active summer. Total dollar volume sold in Teton Valley, ID and Alta, WY increased from $23,783,320 in the first quarter of 2017 to $29,566,950 in the second quarter. The more significant number to report was the total number of properties sold. The total number of properties sold in the first quarter was 83 in comparison to the 124 properties sold in the second quarter. This increase can be attributed to an increased amount of properties on the market and number of visitors to our valley in the spring and summer months.
Strong Residential Market
Our Single Family Residential Market continues to be strong. The total dollar volume sold in Residential saw in increase ($18,614,320 in Q1-2017 to $19,896,300 in Q2-2017). The number of homes sold saw an increase from 37 sold in the first quarter to 51 sold in the second quarter. Currently, the average home sale price is $390,000. This increase in homes sold points to continued interest in our gorgeous valley and the value of a built home in our specific valley. With current building per square foot prices rising, there is a significant merit in purchasing an existing home.
Townhomes and Condos in High Demand
The townhome and condominium market is strong and showing increasing values as well. The total units sold is up significantly from 2 units sold in the first quarter to 17 sold in the second quarter. The average price per unit in the second quarter of 2017 is $240,000.
Single Family Lots Sold Double
We continue to see the single family lot market increase in our valley. When comparing the 25 sales in the first quarter, we saw an increase to 51 lots sold in the second quarter. It doubled, and now we are poised for a strong 3rd quarter.
Please call 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. We look forward to working with you, in the pursuit of a Teton Valley acquisition or sale.
Andrea Loban, Broker