Teton Valley Market Report – Q1 2024

The Teton Valley real estate market started the year on a busy foot, with 109 posted transactions in the first three months of the year, up 10.1 percent compared to the same period in 2023. 

Year-to-date sales have also generated nearly $70M in sales volume.

Low inventory, however, threatens to keep the market in check for the rest of 2024. 

At the beginning of April, 224 properties were listed for sale in Victor, Driggs, Alta, and Tetonia. This number is down from 281 last year, or a decline of more than 20 percent. The limited inventory, however, should help to maintain individual property values if the current sales pace continues heading into summer.

Teton Valley Real Estate Market Report Q1 2024

Vacant land sales led the way for Q1 2024 with 66 sales (60 percent of all transactions so far this year). This number is up 32 percent from this time in 2023, signing a possible resurgence of spec home builders and owners willing to build.

At the end of Q1 2023, the median (or mid-point) sale for Teton Valley was $430,000 for a 1-bedroom unit in Teton Creek Resort. Twelve months later, the median sale for Q1 2024 was unchanged at $430,000 (for a 10-acre parcel in Tetonia).

Heading into the hectic summer season, the Teton Valley real estate market seems poised to keep pace with 2023.

 

Read our full report:

Questions about our Teton Valley Market Report and how it impacts your real estate goals? Get in touch any time – we would love to chat.

Joanne: Joanne.LaBelle@jhsir.com | 208-313-7669
Natalie: natalie@tetonvalleyteam.com | 208-709-1945

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