The Q3 Real Estate Market Reports are in!
Mountain Standard is here to be your resource for all things Jackson Hole and Teton Valley real estate. Wondering what's been going on in the market lately and how it could affect your buying or selling plans? We're here to break it down for you.
Jackson Hole, Wyoming
In the third quarter of 2024 the market has experienced varied activity across its different segments. The overall market saw 222 total transactions and a 5% decrease in total volume standing at $915.7 million YTD. Despite this decline, the market is showing signs of resilience, as current listings have increased by 5% to 294, providing prospective buyers with a broader range of options. The single family home segment saw a 4% increase, the condo and townhome saw a 13% increase, the vacant land market was a standout with a 29% decrease, and the luxury home segment saw a slight 9% decrease. While the Jackson Hole market adapts to fluctuations, certain segments exhibit resilience and growth, underscoring the diverse nature of the local real estate landscape. Buyers are navigating a market characterized by increased inventory and shifting price dynamics, making it an exciting yet challenging environment for both buyers and sellers (without the right guidance)!
Teton Valley, Idaho
The real estate market in Teton Valley, Idaho, has seen varied performance across different segments this year, with a total of 429 transactions marking a 3% increase, while the total dollar volume dipped 8% to $284.1 million. Current listings have grown by 9%, bringing the total to 415, offering more opportunities for buyers across the region. The single family home segment saw a decline by 13%, the condo and townhome saw a 9% decrease after a big surge in Q2, and the vacant land market was a standout with a 22% increase. When it comes to real estate in Teton Valley, there is no one-size-fits all recommendation for timing your buying and selling. Now, more than ever, it's important to have a realtor in your corner who understands the nuances and trends within EACH of these unique segments as buyer interest grows across the board.
What does this mean for me?
As a potential Buyer or Seller, you most likely still have plenty of questions on the market and how it could affect your timing and goals. And we're here to help. Market dynamics are tricky, and having a trusted team in your corner that specializes in both Jackson Hole and Teton Valley real estate is essential in making the right decision. Reach out today, we'd be happy to walk you through it.
Check out the full reports below:
