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Star Valley 2015 Mid Year Report

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OVERALL MARKET

The real estate market in Star Valley showed a positive increase in the number of sales for both single family homes and building

sites in the first half of 2015 when compared to the first half of 2014. The total number of transactions increased 21%, from 140

sales in 2014 to 170 sales YTD 2015. Sales volume increased from $30,447,586 to $34,526,148, but the average sales price actually

decreased from $217,483 to $203,095. This decrease can be attributed to the large number of vacant building site transactions

which lowered the total average sales price by nearly 71% across the board.

Regarding inventory, at mid-year 2015 there were 750 active listings in the Star Valley area. This is about a 1% decrease from 761

active listings at mid-year 2014.

SINGLE FAMILY SEGMENT

As of 2015 mid-year, there were 99 single family homes sold, an approximate 12% increase when compared to 2014 mid-year

(88 single family homes sold). Total dollar volume in the single family segment was up from $24,023,561 to $27,797,836 in 2015.

Average sales price increased about 2% from $272,995 to $280,786. Single family homes on average sold for 97% of last list price.

At mid-year 2015, there were 198 single family listings on the market, a 23% decrease from mid-year 2014 where there were 258

single family listings.

THE TOTAL NUMBER OF TRANSACTIONS INCREASED 21% IN THE STAR

VALLEY REAL ESTATE MARKET WHEN COMPARED TO MID-YEAR 2014.

 

RESIDENTIAL BUILDING SITE SEGMENT

Building sites experienced a 34% increase in number of transactions, from 44 sales in 2014 to 59 sales mid-year 2015. This actually

contributed to a 22% decrease in total dollar volume, from $5,092,513 mid-year 2014 to $3,968,173 mid-year 2015. The average

sales price fell 41%, from $115,739 to $67,257. Inventory was still high in this segment of the market at mid-year 2015, with 458

building sites on the active market. This was an 8% increase from mid-year 2014 where there were 423 building sites available for

sale.

COMMERCIAL SEGMENT

Commercial sales doubled from three to six sales mid-year 2015. The average sale price was up 85% from $111,004 to $204,500.

Total dollar volume jumped 270% from $333,012 to $1,232,399. Of the few commercial properties that sold through mid-year

2015, the sales prices averaged 76% of the last list price.

CONDOMINIUM & TOWNHOME SEGMENT

This segment of the market didn’t see much activity in the first half of 2015, with only 3 transactions. Total sales volume jumped,

from $498,500 mid-year 2014 to $633,000 in 2015. The average sales price increased from $124,625 to $325,000.

VALLEY STATS

As of mid-year 2015, the least expensive active listing in the Star Valley market was a .30 acre building site in Star Valley Ranch,

listed for $7,000. The most expensive listing in the Star Valley market was a 245 acre ranch on the Salt River, with a 7,260 square

foot home, listed for $7,750,000.

The least expensive Star Valley listing sold through mid-year 2015 was a 1 acre building site in Star Valley Ranch listed for $14,900.

The most expensive Star Valley listing sold was a home in the Alpine Airpark Refuge listed for $2,700,000.