Even with the market uncertainty created by the impacts of COVID, the Teton Valley Real Estate market has performed well in the first half of 2020 vs. 2019. Unlike other markets, Teton Valley, ID did not experience the same level of slowdown in dollar volume.
Overall, while the number of transactions was down 8%, total dollar volume was up 3% when comparing YTD 2020 vs. 2019. The average sales price grew 12% to nearly $340,500 YTD 2020 vs. 2019.
Due to lack of inventory in Single-Family Homes, this segment posted a slight decline both in the number of transactions and dollar volume, down 17% and 12% respectively, driving up the average sales price to $546,000. Vacant Land total dollar volume was up 24% while transaction volume was nearly flat, down 5%. Condominiums and Townhomes increased both in number of sales and dollar volume in the towns of Victor and Driggs.
The Farm and Ranch segment of the market reported a large increase in dollar volume with the sale of the 960 acre Teton Timbers Ranch which was listed at $4,250,000. Commercial properties traded more briskly and saw an increase in activity with both the number of sales and total dollar volume increasing 75%.