Teton County, Idaho — Q2 2021
While Teton Valley, Idaho, has often been referred to as the “Quiet Side of the Tetons,” the west side real estate market has been anything but “quiet” for the last 12 months.
Unlike Jackson, which saw a measurable slow down during Q2 2020 (that is, during the onset of COVID), Teton Valley has shown a consistent uptick of activity throughout the global pandemic.
To put the valley’s growth in perspective, in 2019 (i.e., pre-COVID), Teton Valley and Alta, Wyoming, generated 586 transactions for the entire calendar year that totaled $181.9M. It should also be noted that 2019 was also a banner year for the west side real estate market.
Fast forward 18 months, and the valley’s real estate market has exploded. For the first six months of 2021, Teton Valley is up 163.2% on transactions (or 577 closed transactions for YTD 2021 vs. 220 sales for the same period in 2020) and is up 217% for dollar volume (or $236.1M for 2021 vs. $74.5M in 2020).
More impressive still is looking back on the totals from the last 12 months (that is, July, 2020 through June, 2021). In trying to assess what a post-COVID Teton Valley real estate market looks like, the last 12 months have seen nearly 1,500 closed sales and more than $525M in dollar volume.
In other words—and if this level of activity continues through the 2021 calendar year—Teton Valley and Alta, Wyoming, will have grown from a sub-$200M market to a more-than-half-a-billion-dollar market in just two years.
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