MARKET REPORT

STAR VALLEY, WYREAL ESTATE MARKET REPORT2014 YEAR END

THE STAR VALLEY REAL ESTATE

MARKET LEADER

OVERALL MARKETThe overall market experienced a 27% increase in the number of sales from 2013 to 2014. There were 372 sales in 2014 compared to 294 sales in 2013. Total dollar volume rose 26%, from $66,822,534 in 2013 to $84,240,349 in 2014. Although, the average sale price dropped by less than 1%, from $227,288 in 2013 to $226,453 in 2014. This can be attributed to the increased number of single family building sites sold in 2014.

Regarding inventory, at the end of 2014 there were 661 active listings in the Star Valley area. This number was slightly up from 631 active listings at the end of 2013. The number of active listings increased due to the number of single family building sites introduced to the market.

SINGLE FAMILY SEGMENT

There were 195 single family homes sold in 2014. This number rose slightly from the 190 sold in 2013. Total dollar volume in the single family segment was up a substantial 31%, from $43,508,254 in 2013 to $57,001,024 in 2014. Single Family homes on average sold for 95% of list price. Single family inventory was down 19%. At the end of 2014, there were 173 single family listings on the market compared to the end of 2013.

THE STAR VALLEY REAL ESTATE MARKET EXPERIENCED A 27% INCREASE IN THE NUMBER OF SALES IN 2014.

www.STARVALLEYREALESTATE.com | 307.883.7575 Thayne | 307.654.7575 Alpine

MLS #14-2325$649,000

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www.STARVALLEYREALESTATE.com | 307.883.7575 Thayne | 307.654.7575 Alpine

RESIDENTIAL BUILDING SITE SEGMENTBuilding sites had a significant increase in the number of sales in 2014. Sales climbed 72%, from 85 sales in 2013 to 147 sales in 2014. This was a 19% increase in total dollar volume, from $15,556,681 in 2013 to $18,516,313 in 2014. The average price fell 31%, from $182,020 in 2013 to $125,961 in 2014 due to the large amount of residential building sites sold in 2014. Inventory was still high in this segment of the market at the end of 2014 with 414 building sites on the active market. This was a 16% increase from the end of 2013 where 355 building sites were on the active market.

FARM AND RANCH SEGMENTThe farm and ranch segment of the market has continued to see little activity over the past two years. The average sale price in 2014 was down 82% compared to 2013. The average sale price in 2014 was $270,333, down from $1,512,000 in 2013. The total volume was also down in 2014, from $4,536,000 in 2013 to only $811,000 in 2014 (82% decrease). Important Note: There were only 2 farm and ranch sales reported in the MLS for the Star Valley area, and both were between 30-47 acres.

CONDOMINIUM SEGMENTCondominium sales increased from 4 in 2013, to 13 in 2014. This was a 225% increase. Total sales volume jumped, from $345,800 in 2013 to $3,902,000 in 2014. The average sales price also jumped a significant amount, from $86,450 in 2013 to $300,154 in 2014.

VALLEY STATSAs of 2014 year end, the least expensive active listing in the Star Valley market was a .30 acre building site in Star Valley Ranch, listed for $8,500. The most expensive listing in the Star Valley market was a 562 acre ranch on the Salt River, with a 2,200 square foot home, listed for $4,700,000.

The least expensive Star Valley listing sold in 2014 was a .40 acre building site in Star Valley Ranch for $3,500. The most expensive Star Valley listing that sold in 2014 was a home in the Double L Ranch subdivision for $3,600,000.

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* The statistics used in this report are from the Teton Multiple Listing Service (MLS)

* This report does not go into detail on every segment of the market, but is intended to offer an overview of general market conditions.

* All statistics are supplied by sources that have been deemed reliable but are not guaranteed.

Jackson Hole (Main)80 W. Broadway | 307.733.6060

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Star Valley (Alpine)46 Iron Horse Dr. | 307.654.7575

Star Valley (Thayne)235 S. Main | 307.883.7575

Teton Valley (Driggs)65 S. Main | 208.354.7325

MLS #13-1325$1,350,000

MLS #14-1127$750,000

MLS #14-1669$459,000