TETON VALLEY, Idaho — Despite barely missing the symbolic year-end $500M mark for total dollar volume, the Teton Valley real estate market had its second-best year ever in 2022 by posting $492.7M in dollar volume with 749 transactions.
While sales for the valley were down 35.6% in 2022, individual property values generally held firm as the post-Covid wave of real estate demand began to recede. For the three main property types in Teton Valley (homes, condos/townhomes and vacant land), all three categories posted year-over-year gains for average individual sale prices.
The regions of Alta, Wyoming and Tetonia, Idaho both saw precipitous declines in total dollar volumes for sales (down 59.6% and 53.6%, respectively), but Victor and Driggs managed to hold their own in a transitional year for the market with modest drops of only 14.6% and 3.3%. The $411.0M of sales generated in Victor and Driggs also accounted for 83.4% of all dollar volume in the Teton Valley region. It should be noted too, the year-end total for the entire Teton Valley region in 2021 was $364.4M.
Jackson Hole Sotheby’s International Realty represented 149 sellers in the last 12 months, helping more sellers navigate an uncertain year than any other firm, and successfully closed one in five of all listings in Teton Valley for 2022.
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