Q1 2026 • TETON VALLEY
MARKET REPORT
Q1 2026 • THE TETON VALLEY MARKET
The Teton Valley real estate market entered 2026 with a shift toward normalization. Overall sales volume declined 16% year-over-year, with total dollar volume down 19%, reflecting a more measured pace of transactions. Inventory remained relatively stable, and a slight dip in pending sales points to a more balanced market heading into spring.
Single-family home sales increased 5%, though pricing and volume softened compared to Q1 2025. Average price declined 27%, median price fell 7%, and total volume dropped 24%, driven largely by reduced activity in Driggs and Tetonia. Ths was partially offset by gains in Victor. Inventory more than doubled (+105%), giving buyers more options and contributing to slightly longer market times.
The condo and townhome segment slowed, with sales down 27% and volume declining 25%. Pricing held relatively steady, with a slight increase in average price (+2%) and a small dip in median price (-3%). Inventory dropped sharply (-67%) due to fewer new projects coming to market, and fewer pending sales suggest limited supply is constraining activity.
Vacant land remained a key segment, with transactions down 16% but pricing strengthening significantly. Average price rose 44% and median price increased 15%, driving a 22% gain in total dollar volume, largely led by Driggs. At the same time, days on market increased and inventory held steady.
Commercial activity slowed notably due to limited supply, with just one sale compared to four last year, resulting in a 93% drop in volume.
Overall, Teton Valley appears to be stabilizing after a period of rapid growth. While transaction volume has moderated, pricing resilience, particularly in land and select residential segments, continues to support the market. Increased inventory and steady demand suggest a more balanced landscape, positioning the region for long-term growth.
TOTAL DOLLAR VOLUME 19% DECREASE YOY $82.7M
AVG SFH SALES PRICE 27% DECREASE YOY $1.2M
MEDIAN SFH SALES PRICE 7% DECREASE YOY $1.1M
TOTAL TRANSACTIONS 16% DECREASE YOY 112
518
ACTIVE LISTINGS 4% DECREASE YOY
VICTOR, IDAHO (37)
DRIGGS, IDAHO (58)
ALTA, WYOMING (2)
TETONIA, IDAHO (15)
SINGLE FAMILY HOMES
SOLD LISTED AT $1,399,000 VICTOR REPRESENTED BY KRISSY ALBERT & SHELBY DYER
The single-family home market in Teton Valley saw a modest increase in activity in Q1 2026, with sales rising 5% year-overyear. However, pricing and overall volume softened, as the average sale price declined 27% and the median price dipped 7%, contributing to a 24% decrease in total dollar volume. This shift was largely driven by fewer high-value transactions in Driggs and Tetonia, partially offset by stronger performance in Victor.
Inventory expanded significantly during the quarter, with active listings more than doubling (+105%), giving buyers greater
choice and leverage. Pending sales increased 20%, but homes took slightly longer to sell, with days on market ticking up. These conditions point to a market that is no longer supply-constrained, allowing buyers more time and flexibility in their decision-making.
Overall, the single-family segment appears to be recalibrating after several years of rapid growth. While demand remains present, the combination of increased inventory, softer pricing, and longer market times suggests a shift toward a more balanced market heading into the remainder of 2026.
MARKET STATS
MARKET STATS BY AREA
CONDOS/TOWNHOMES
The condo and townhome market in Teton Valley experienced a slowdown in Q1 2026, with sales declining 27% year-over-year and total dollar volume decreasing 25%. Despite the drop in activity, pricing remained relatively stable, as the average sale price increased slightly by 2% while the median price dipped just 3%. This suggests that while fewer transactions occurred, overall values held steady across the segment.
Inventory constraints played a notable role in limiting activity. Active listings fell sharply by 67%, and pending sales also declined, indicating that a lack of
available product is restricting transaction volume. However, homes that did come to market sold more efficiently, with days on market decreasing 12%, reflecting continued buyer interest when inventory is available.
Overall, the condo and townhome segment remains supply-driven, with demand present but constrained by limited availability. As inventory levels fluctuate, this segment has the potential to see increased activity, particularly as buyers continue to seek more attainable and low-maintenance housing options within Teton Valley.
SOLD LISTED AT $707,000 VICTOR REPRESENTED BY ZACHARY SMITH
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MARKET STATS BY AREA
VACANT LAND
SOLD · LISTED AT $1,360,000 · ALTA REPRESENTED BY ANDREA LOBAN
The vacant land market in Teton Valley saw a decline in transaction activity in Q1 2026, with sales down 16% yearover-year. Despite fewer transactions, pricing strengthened considerably, with the average sale price increasing 44% and the median price rising 15%, driving a 22% increase in total dollar volume. Much of this growth was fueled by strong performance in Driggs, where higherpriced land sales contributed to the overall increase in value.
Inventory levels remained relatively stable, with a slight 2% increase in active listings, while pending sales rose 16%, signaling continued buyer interest. At the
same time, the average days on market increased 32%, indicating a lack of compelling supply.
Overall, the vacant land segment continues to demonstrate long-term strength, with rising prices and steady demand underscoring confidence in future development and investment. Typical to winter months, the pace of transactions has slowed, the market remains active, and buyers are showing sustained interest despite longer decision timelines.
MARKET STATS
MARKET STATS BY AREA
