WEST SIDE OF THE TETONS
First Quarter
2026
Teton Valley, Idaho — Q1 2026
Sales Volume Vs. Units Sold
Coming off its second-best year ever in 2025 with more than $500M in sales volume, the Teton Valley real estate market headed into the new year poised to maintain its momentum.
In Q1 2026, however, the regional market faced the headwinds of one of the warmest ski seasons on record coupled with an increase in mortgage interest rates and other economic instability. Transactions fell 16.4 percent in the first three months of 2026 (or 112 closings this year compared to 134 sales in Q1 2025). The complementing dollar volume also fell more than 20 percent to $82.4M for the year to date.
Home sales remained brisk – up 5 percent year over year – but the corresponding sales dollar volume fell
Sales Volume By Area
nearly 25 percent, mostly due to a slowdown in Teton Valley’s luxury segment. For Q1 2026, only one property sold for more than $3M (a 132-acre parcel in Driggs that was listed for $7.9M).
The average transaction price across all property types fell slightly to $735,296 (down 3.4 percent from Q1 2025). At the start of spring, active listings across Victor, Driggs, Tetonia, and Alta also crept up slightly to 316 properties for sale (up 3.9 percent).
Pitting the current pace of sales against the region’s current inventory, the climate heading into the busy summer season is one of a “Buyer’s Market.” Time will tell if the rest of 2026 can match the market’s success from last year.
Sales Volume By Price Category
Condominiums/Townhomes
Like the overall market, the Teton Valley condo and townhome segment lagged Q1 2025 for the first three months of 2026, down 29 percent on transactions (22 sales this year compared to 31 transactions in Q1 2026), and down 27 percent on sales dollar volume to $11.3M for Q1 2026.
The Flats at Teton Peaks in Driggs represented half of all transactions in this segment of the market, with the 2-bedroom, 800 sq.ft. units listed for sale in the high $300,000s trading on par with the frequency and the values of Q1 2025.
Activity in Stone Peak outside of Driggs has been strong too in Q1. The final phase of the 3-bedroom townhomes was released in early 2026, with one of the units listed for $795,000 closing and four more quickly going under contract.
The downtick in activity was met with a similar drop in units listed for sale. Active inventory fell 25 percent to 27 properties listed for sale across Teton Valley.
Sales Volume By Area
Single Family Homes
Sales Volume By Area
YTD 2025 VS. 2026
Home sales were the lone bright spot for the Teton Valley market in Q1 2026. Transactions grew a modest 5 percent to 40 sales. The corresponding dollar volume, however, fell 24 percent year over year, mostly due to an absence of sales from tony Tributary thus far in 2026. By contrast and in Q1 2025, four homes sold in Tributary with an average price of nearly $4.5M.
Victor was particularly active, posting 16 closings in the first three months of 2026 (a 45 percent increase over last year). Sales ranged from $630,000 (for a 3-bedroom home in Valley Vista Estates) to $1.8M (for a 3,500 sq.ft. home in Teton Springs).
Lack of activity in the upper end of the market was to blame for the average home price falling more than 25 percent to $1.215M. The median also fell from $1,225,000 in Q1 2025 (for a 4-bedroom, 2,700 sq.ft. home in Shoshoni Plains) to just under $1.15M this year (for a 3-bedroom, 2,100 sq.ft. home on 2.8 acres in Trout’s Teton Valley Ranch).
Inventory grew slightly in Q1 2026. Ninety-four homes were listed for sale at the end of Q1 2026, up slightly compared to one year ago when 87 homes were actively on the market.
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Sales Volume By Area
2025 VS. 2026
Vacant land sales slumped off in Q1 2026 posting only 48 transactions (down 21.3 percent from last year), with Victor seeing an even the greater decline (down 36 percent year over year).
Despite the slowdown in sales, the Q1 land market performed well. The average sale price grew to $445,059 (up 32 percent year over year), while the median grew 13 percent to $259,000 (for a 1.15-acre parcel off Ski Hill Road in Driggs). One large transaction off Ski Hill Road also pushed the YTD sales dollar volume up 68 percent compared to Q1 2025.
Year-to-date land sales represented 43 percent of the overall transactions in region, down from 46 percent in Q1 2025. Raw land has been a steadily decreasing slice of the overall Teton Valley pie since 2021, when vacant land sales represented two out of three transactions (or 65.8 percent to be precise).
Scarcity isn’t to blame. Parcels listed for sale grew to 186 active listing by the end of Q1 2026 (up from 175 properties for sale one year ago).
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