When compared to 2016, the number of sales dropped 16%, and the dollar volume dropped 9%, totaling $460 million. In contrast, the average and median sale prices both increased, 7% and 15% respectively. NOTE: The median sale price of $1.3 million in 2017 ties with 2010 as the highest median sale price ever. Also noteworthy, the median list price for single-family homes at the end of 2017 was $2.65 million, which is the highest median list price ever.
*While other local Real Estate Brokers attempt to report on the local real estate market, we are the only ones to track every single transaction. Therefore, if you want the most accurate information to help guide you through your next real estate transaction, please call Devon, Luke or David today. “We are the Experts”.
*All statistics are supplied by sources that have been deemed reliable but are not guaranteed.
*All statistics quoted in this newsletter are based on sales in 2017 compared to sales in 2016.
*Median sale price is the cost of a property that has an equal number of sales above and below it on the price scale.
*Average sale price is the total combined dollar volume divided by the number of sales.
*In this report, “overall” refers to all sales in Teton County combined (homes, lots, condos, commercial, ranch), minus Alta, WY.
*The term “Market Value” means the value of property in terms of what it can be sold for on the open market; current value.
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