The Q1 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 first quarter of 2024, the market in Jackson Hole continued to show a dynamic real estate landscape in the area characterized by shifting preferences and investor behaviors across different property types. The JH market overall saw 58 total transactions, just one less transaction compared to this time last year. Yet with a similar number of transactions, the market experienced a 49% increase in dollar volume. A desire for higher end properties, increases in average sale prices, and the recent sales of two iconic Jackson Hole dude ranches attributed to this vast increase in dollar volume this quarter.
Teton Valley, Idaho
This quarter, Teton Valley also saw some intriguing changes in the market. Starting with the number of transactions coming in at 110 sales totaling $70.3 million, a 2% decrease when compared to the first quarter of 2023. Each segment performed a bit differently in Teton Valley, but most notably, vacant land sales saw the most interesting update. Land sales made up the majority of transactions this quarter and increased 128% in total dollar volume, followed by single family homes, then condos. These changes indicate a growing demand for entry into the market and suggest a lack of available residential listings pushing buyers towards building.
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:
