Market Report
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Monthly Market Analysis All MLS Reported Sales Information for Teton Valley January 2012
Year-to-Date Homes Sold  Year-to-Date Lots Sold 
Detailed Market Analysis — Last Month Building Sites < 10 Acres
Building Sites > 10 Acres
Homes < $350,000
Homes from $350,000 - $750,000
Homes from $750,000 - $1,250,000
Homes > $1,250,000
We hope this information has been beneficial to you. Thank You! | Click here to contact an agent with market questions. Sage Realty Group would like to welcome you to our Market Report and Analysis. Teton Valley saw a 13% increase in properties sold in the 4th quarter of 2011 compared to the same quarter of 2010. The same comparison shows a 13% decline in sold volume and a 23% decline in the average sales price of area properties. Looking back on the year as a whole, there was a 21% increase in the number of properties sold over those sold in 2010 and a 12% decrease in the average sales price for properties. It’s no surprise that a higher number of sales brought in lower dollar amounts when you consider that 40 of the 78 sales during the 4th quarter were either short sales or REO’s (real estate owned by banks). In both instances, owners and banks desire to move a property quickly at its appraised value. Over time, appraised values have decreased valley-wide as properties have been pushed through at lower sales prices to meet bank quotas and financial deadlines. In order to appraise a property, by law, appraisers must have a number of sold comparisons that match the subject property’s profile to define its value. When documented sale prices are low, so then are appraised values. Thus continues the vicious cycle that has driven market values down. Forty-one homes under $300,000 sold in the 4th quarter, a 37% increase over the same time period last year. The sold volume for these sales was down 9% when compared to Q4 2010, while the average sales price fell 34% to $121,894. Of these sales, 66% were potential short sales or REO homes. Overall 2011 saw a 50% increase in sales for homes under $300,000 compared with 2010. Sold volume over the year was up 16%, while the average sales price was down 23% for an average sales price of $145,000. A total of 69% of sales in 2011 were potential short sales or REO’s.
If your new year’s resolution included spending more time in the Tetons, now could be the time to buy. Prices are down, interest rates are low and good values abound. We look forward to keeping you tuned in to the market data we are watching. Please feel free to contact us if you have any questions or would like more detailed information. * This information reflects data gathered from Teton Valley, ID. This includes Tetonia, Driggs, Victor and Alta, WY. To view all archived market reports click here.  RSS Market Report |
