Teton Valley Real Estate Market Report | End Of Year 2022
The market seems to be slowing a bit with a decrease in overall transactions, down 36% for a total of 749, and a decrease in total dollar volume, down 23%, totaling $493M. As the average price of single-family homes continues to rise, up a firm 11% to $1.2M, more people are looking to the condominium and townhome segment.
More details in the full report below!
Jackson Hole Real Estate Market Report | End of Year 2022
The local real estate market is continuing to shift as we enter 2023. In the past two years, the decrease in inventory has significantly impacted total dollar volume, average sales prices and days on the market. Total Dollar Volume in 2021 skyrocketed to a record breaking level of $2.7B. Multiple offers resulting in over- asking price sales and drastically shorter days on the market were the new normal, thanks to the pandemic fueled desire for rural living in Teton County.
However, through 2022, the market readjusted from the previous sweltering highs. Comparing 2022 vs 2021, there was a 52% decrease in overall transactions, from 853 transactions in 2021 to 408 transactions in 2022. When compared to 2019, which saw 669 sales, the number of transactions in 2022 was down 39%.
More details in the full report below!
Star Valley Real Estate Market Report | Year End 2022
As the market continues to readjust, Star Valley saw a decrease in overall transactions, down 46% for a total of 495. Star Valley also saw a decrease in total dollar volume, down 28% totaling $273M. Although single family home transactions are down 35%, this segment has seen a slow down in activity as the average days on market has increased by 45%. The average sales price of single family homes is still on the rise, up 11% to $795K, this is driving consumers to purchase land with the intent to build or develop.
More details in the full report below!
