Farm and Ranch (35+ acre parcels valley-wide) -This segment of the market saw a 48% decrease in the number of sales in 2007.  The average price ($1,111,862) and median price ($660,000) did see positive gains to 7% and 8% even with the fewer sales.  The most expensive sale in all of 2007 for Star Valley was for a 450 acre parcel in the Smoot area that offered creek frontage, river access, forest access, and end of the road privacy.  All of this came with a list price of $8,000,000.  

Northern Star Valley: Had 15 sales with an average price of $984,708 (down 6%) and a median price of $939,000 (up 51%).

Southern Star Valley: Had 8 sales with an average price of $1,302,594 (up 17%) and a median price of $440,000 (down 14%).

Other Valley Wide Stats:

Active Listings- 60 active listings with an average list price of $1,895,355 (up 20%) and a median list price of $886,500.

Least Expensive Listing- 35 acres in the Fairview area for $295,000.

Most Expensive Listing- 2,573 acres south of Smoot listed for $8,900,000.  Public land in-holding with lots of big game and fishing on site.

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*All statistics are supplied by sources that have been deemed reliable, but are not guaranteed.

*All statistics quoted in this newsletter are based on sales in 2006 compared to sales in 2007.

*Median sale price is the cost of a property that has an equal number of sales above and below it on the price scale.

*Overall real estate statistics are a combination of all home, lot, condo, ranch and commercial transactions or listings.

Northern Star Valley, in this report, is Bedford north to the Idaho/Wyoming state line (not including Star Valley Ranch).
Southern Star Valley, in this report, is south of Bedford to Smoot.

This segment of the market saw a major decrease in the first half of 2007.  With buyers being more selective and prices on the incline, these larger tracts of land saw somewhat of a downward turn.  Not to worry though, there were 12 ranches under contract at the midpoint of 2007 with an average list price of $1,440,533 (up 59% from 2006). 

Northern Star Valley: 7 properties sold with an average sale price of $1,018,428.

Southern Star Valley: 4 properties sold with an average sale price of $411,000.

Other Valley Wide Stats:
Active listings: 48 active listings with an average price of $1,606,539.

*All statistics quoted in this newsletter are based on sales in the first six months of 2006 compared to the first six months of 2007.

*Median sale price is the cost of a property that has an equal number of sales above and below it on the price scale.