A total of 10 properties sold in Teton Valley this week.
Five homes sold across the valley. Three residences were in Victor, one in Driggs and one in Tetonia. The average price for these homes was $161,780. Additionally a condo sold in Victor for $38,000.
Four lots sold this week with 3 of them located in the Victor area and one in Driggs. Average sale price for lots was $35,625.
Five homes and one lot sold in Teton Valley last week. Three homes in Victor sold for an average price of $323,633, 0ne home in Alta sold for $595,000 and another on the west side of Teton Valley sold for $500,000. A lot in the Tetonia region sold for $56,000.
A delightfully warm spring has left the trees budding, the grass green and the birds happy across the valley floor.
With no sales in Teton Valley the previous week, this week rounded out with 5 residential sales. Victor took the majority of the sales with 4 homes closing for an average sales price of $241,250 at the south end of the valley.
One home sold in the Victor, ID area for $189,000 this week. There are currently 50 total properties pending in Teton Valley – this includes both homes and land.
Grand Targhee closed this weekend under sunny skies. The valley grass is green and the sun has been warm.
In market news, the first quarter of real estate sales in Teton Valley indicates that short sales and REO’s continue to drive the local market. Of the 45 homes sold in Q1-2012, 90% were under $300,000. Sixty-nine percent of the homes sold were listed either as short sales or REO (bank-owned real estate). With a 24% increase in the number of homes sold under $300,000 this quarter versus Q1-2011, and considering 90% of the homes sold this quarter were under $300,000, we can safely say that most buyers are focused on picking up a good deal in this price range.
On the up side, there was a 7% increase in the number of homes sold this quarter, when compared with Q1-2011, and a 22% decline in the number of homes listed for a total of 372 homes on the market in the first quarter. Days on market dropped 23% to an average of 392 days, showing that properties are moving somewhat faster than a year ago.
Though the number of homes sold increased, the dollar volume of homes sold declined 15% and the average sales price of homes fell 22%, when compared with the same time period last year, to $165,400. As we enter the second quarter, 27% of residential listings are either REO’s or short sales.
On the land side of things, 18 lots sold in the first quarter, a 64% increase over the same quarter last year. When compared to Q1-2011, lots this quarter saw a 15% increase in their average sales price to $120,500 There has also been a 14% decline in the number of lots listed and a 15% drop in the average number of days on market.
For first time homebuyers, and those looking to upgrade, now could be the time to lock into low interest rates and follow the sandhill cranes to Teton valley. For more information on Teton Valley’s current market, please visit our online market report.
Sales were slow in Teton Valley this week. A townhouse in Driggs, ID sold for $192,000 and a lot sold in Victor, ID for as little as $9,900!
A good rain helped to green things up last night. There is no question that Spring is in the air.
While the valley floor has melted out, there is still plenty of snow up at Targhee to help us all make the most out of the last 2 weeks of lift service.
Two homes in the Victor area sold this week for an average price of $393,750. Another home sold in Driggs for $133,000.
With competitive prices, now could be the time to make your move to the Tetons if you’re not here already.
A total of 7 properties sold in Teton Valley this week.
Two condos in the Victor, ID area sold for an average sales price of $69,750. Additionally, 2 homes sold in Victor and one in Driggs for an average sales price of $131,500. Two lots sold in the Victor, ID area for an average sales price of $20,300.
Doubling up on this week’s post. In the last two weeks there have been 11 sales in Teton Valley. Seven single family residences sold across Teton Valley – this includes one sale in Alta, WY, one in Victor, ID, 3 in Driggs, Idaho and 2 in Tetonia, ID. The average sales price for these homes was $319,954. One condo in the Victor area sold for $85,000. Two lots sold around Victor for an average price of $99,000 and one in Tetonia for $40,000.
Sunny skies and warm weather have melted out the majority of the valley floor, prepping residents for spring clean-up, biking and running. However, winter is not totally over and skiing is in full effect at Grand Targhee until April 22nd.
A total of three properties sold in Teton Valley this week. One townhouse and 2 residential homes sold in the Driggs area. The townhouse went for $205,000 and the average price of the homes was $220,000.
Otherwise the sun has been shining on the Tetons, providing a breathe of Spring in the area.