As we analyze past sales data for 2013, in particular examining sales in the lower end of the market (under $500,000) and higher end sales (over $1,000,000), a few trends can be seen. Over the past 6 months, the percentage of property selling for under $500,000 has been trending downward with the exception of September which experienced a high amount of ‘lower-end” sales. In April 2013, over 1/2 of all sales were under the half million mark; while in October only 27% of all sales were under $500,000.
Conversely, the percentage of sales over $1 million has been slowly increasing since May 2013, with the highest percentage of high end home sales occurring in October where almost 1/2 (43%) of all property sold for over $1 million. The lowest point for high end sales came in September, when only 11 properties sold for over $1 million, which represented only 22% of all sales.
CURRENT INVENTORY: There are currently 30 homes for sale under $500,000 (not including fractional ownership opportunities); 5 of them are single family homes, while 25 of them condos or townhomes. In the higher end of the market, there are 154 homes for sale over $1 million, 59 properties over $3 million and 27 homes for sale over $5,000,000. There are 45 lots for sale in Teton County priced under $500,000 with 19 lots priced are under $300,000. There are 160 lots available for sale over $500,000; of which 106 lots are priced over $1 million.