Inventory remains low coming into the new year. A number of projects throughout Teton Valley are under construction with finishes underway through these Winter months and the expectation of much needed residential inventory coming to market in the Spring. With just 2 weeks into 2024, the market has produced only a handful of sales throughout Teton County. However, the selling price to the listing price ratios are higher than average for Winter sales, ranging anywhere from 95% of the asking price up to full price. This is another indication of low inventory even though prices are not surging above the asking price as they had in years past. Teton Valley's entire market (including Alta) offers only 82 residential listings with prices ranging from $312,500 for a one-bedroom condo in Victor to legacy ranch and luxury residential products in Alta just shy of 10m. Land inventory also seems to be down compared to recent years even though the land market had seemingly stabilized towards the end of 2021. Teton view land options have been extremely limited compared with recent months, causing the few available options to surge in price.

National indicators suggest that as interest rates subside, prices will likely remain stable if not see a slight increase, and the same rings true for many professionals making local predictions. New inventory should provide some relief with many great residential options to be offered exclusively through Teton Valley Realty in popular neighborhoods, including Redtail and Teton Reserve.