Teton Valley including Alta saw nearly 200 residential single-family sales in 2016, an improvement from 2015, even though inventory remains low. Condo and townhouse sales were on par with the year prior, though prices have increased in various sectors in the Valley. The number of building site sales in the Valley increased by 10% in 2016, and the average sale price ended at over $120,000 for the month of December 2016.
Teton Valley 2016 Overview
Homes in Driggs saw a 24% Improvement in absorption ratess, a 12% increase in the average sale price, and a 33% decrease in the average number of days on Market.
Victor saw similar similar absorption when compared to 2015, and a 10%increase in the average sale price. The average number of days on Market decreased by about 19%.
The Tetonia area also performed well with an 4% Improvement regarding absorption, and a 39% decrease in the average number of days on Market. Average sales prices were slightly lower than 2015, by about 2%.
Alta, WY sale price information is skewed due to the lack of available sales as with most years, and this is due to the number of available listings which has diminished as the market improves.
Teton County, WY 2016 Overview
Teton County Wyoming ended it’s year with a bang, with nearly 400 residential sales including condos, townhouses and timeshares.
The Town of Jackson saw a small increase in terms of absorption rate change, and the average sale price did increase, but only by about 2%. The number of days on Market was almost identical to the year prior, around 4 months on average.
Wilson, WY saw a decrease in the number of days on Market, and also a decrease in the average sale price. Like the Alta, WY market, the Wilson market is small, and easily skewed by high dollar listings, or low inventory.
Congratulations to the team at Teton Valley Realty, closing 140 transactions in the Teton Valley Market in 2016, over 50% more than it’s closest competitor.
Here’s to a successful 2017!