For November 2018’s Teton Market Update, I compared Teton Valley sales stats compared to November of 2017. In a nutshell, sales are down 24% from one year ago, while dollar volume is only down 18%. My interpretation of this was that supply remains low, which is driving prices up. This is consistent with the data for 2018 vs 2017, the average sales price in Nov. ’18 was around 350k, while Nov. ’17 was about 5% less. Sales volume is down due to inventory levels (as mentioned) which is likely because of high construction costs, which has been the trend for the past few years.
Victor, ID seems to be building a healthy supply, so we’ll see if these numbers switch places in the coming months.
