Farm & Ranch (35+ acre properties) VALLEY-WIDE:

VALLEY-WIDE: this segment of the market has seen the biggest decline of any in 2009.  There were only three sales in the entire valley during the year, with two occurring in Northern Star Valley and one in the Southern Star Valley area.  This area of the market still reflects a higher price point and as a result has not seen as much interest in 2009.  We suspect that price and lending guidelines are a reflection in the significant hit this corner of the market has taken.  Previously, buyers in this price range were often pulled from the Jackson market, as they found more acreage and improvements for there purchasing dollars.  Although many deals can still be found in Star Valley, the decrease in Jackson prices could be playing a roll in keeping buyers from venturing out of Teton County into this aspect of the Star Valley market. 

OTHER VALLEY-WIDE STATS:
Under Contract: 1 with a list price of $4,350,000. 

Active Listings: 25 with an average list price of $1,892,520 and a median list price of $1,100,000.
 
Least Expensive listing: $420,000 – a 35-acre parcel in the Thayne/Bedford area.

Most expensive listing: $6,000,000 – this buys you a home on 900 acres in the West Hills area of Afton.

* 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 2010 compared to 2009.

* The value of any individual property may, and probably will, vary from the average indicated in these graphs.

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

* Average sale price is the total combined dollar volume divided by the number of sales.

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VALLEY-WIDE: This segment of the market continued to see a slowdown in the first six months of 2008.  There were 57% fewer sales when compared to the first half of 2007.  In the past this segment has been driven by buyers with different intentions for the use of large acreages.  We saw those who were buying for the open space and to get away from big city life; and we also saw developers come to this area to purchase large tracts with the intent to subdivide into smaller lots. 

There are several reasons why we have seen the slowdown in the Farm & Ranch segment of the Star Valley market.  The first being the slowdown in the Jackson market.  Fewer buyers are cashing out and making the transition to Star Valley to build their “dream home” on acreage.  Another reason is the speculators have gone to a position of “sitting on the fence” to see when and where this market will bottom out. Lastly, the developers are not real motivated to buy large tracts to subdivide as there is currently no market for their end product.

OTHER VALLEY-WIDE STATS:
Under Contract: 4 with an average list price of $2,822,750 and a median list price of $724,500.

Active Listings: 54 with an average list price of $1,682,292 and a median list price of $850,000.

Least Expensive listing: $295,000- this buys you 35 acres in the Fairview area.

Most expensive listing: $7,900,000 – this buys you over 2,500 acres Encircled by BLM, National Forest and State Land, this valley is prime habitat for ranging elk, moose and deer.  

SALES BY AREA:
Northern Star Valley had 6 sales in the first half of 2008
.
Southern Star Valley had 1 sale in the first half of 2008.

*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 the first six months of 2007
compared to the first six months of 2008.

*The value of any individual property may, and probably will, vary from the average indicated
in these graphs.

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

*Average sale price is the total combined dollar volume divided by the number of sales.