Third Quarter
2025 WEST SIDE OF THE TETONS
Teton Valley, Idaho — Q3 2025
Fueled by a busy September that saw nearly 50 percent more transactions than one year ago, the Teton Valley real estate market ended Q3 up 2.5 percent on sales compared to 2024. The complementing sales dollar volume for 2025, however, is up nearly 40 percent over last year, mostly driven by a record number of sales at higher price points.
Fifty-six closings in September (compared to 38 sales in September 2024) pushed the 2025 tally to 445 transactions in Victor, Driggs, Tetonia and Alta. The yearto-date sold dollar volume of nearly $400M, however, is already greater than the $376M the Teton Valley market saw in all of 2024.
While only representing 30 percent of the overall
Sales Volume By Area
transactions, home sales generated more than half of the valley’s 2025 total dollar volume (or $208.6M out of the $395.8M overall sum). Twelve home sales with a listing price in excess of $3M – including nine in Tributary – helped to bolster the market’s momentum. So too did the sale of seven large ranch parcels (ranging from 128 to 1,000 acres) that generated about 10 percent of the market’s year-to-date total dollar volume.
While the 2025 market is poised to exceed more than $500M in sales for the first time since 2021 (when a Covid-fueled climate saw $633M in sales), growing inventory around the region will be a statistic to watch. Last October, 400 properties were listed for sale around the valley. One year later, that number has grown to 424.
Sales Volume By Price Category
Condominiums/Townhomes
The 75 condo and townhomes sales in Teton Valley through the end of Q3 2025 represented an impressive 63 percent increase in transactions compared to the first nine months of 2024. The corresponding sold dollar volume from these sales was also a 51.5 percent increase over last year.
Driggs saw the overwhelming majority of the transactions (61 of the 75 total sales) with 30 of the year-to-date sales occurring at the new development of The Flats at Teton Peaks (where non-deed-restricted, 2-bedroom units start at $389,000). The newer developments of Moraine Square and Stone Peak (both also in Driggs) have seen strong activity as well with seven and 10 transactions in 2025, respectively. In general, individual unit pricing has remained stable over the last 12 months.
Last October, 35 condo or townhome units were listed for sale across the valley. One year later, that number has grown slightly to 39 units currently on the market.
The Teton Valley real estate market has never seen a year with 100 condo/townhome sales. 2022 came close with 94 transactions. If the current pace of sales continues, 2025 might be the first year where this segment of the market posts triple digit sales.
Sales Volume By Area
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Single Family Homes
Sales Volume By Area
Teton Valley home sales have been brisk in 2025, especially at the higher price points of the region’s market.
The 134 transactions through the end of September, 2025 represent a 12.6 percent increase over last year (when only 119 homes sold). The complementing sold dollar volume of $208.6M, however, was a more noteworthy increase of 36.1 percent compared to 2024.
Both the average and median home prices also posted gains year over year. In 2024, the median (or mid-point) sale through Q3 was a $979,000 (for a 3-bedroom, 1,300 sq.ft. home on nearly an acre in Targhee Ranch in Driggs). One year later, the median sale increased to $1.05M (for 3-bedroom, 2,300 sq.ft home on half an acre in Sweetwater Subdivision north of Driggs). It’s also interesting too that in 2025 the majority of homes that have sold have had a listing price in excess of $1M.
The Teton Valley average home price jumped more than 20 percent thus far in 2025 to $1,556,931.
In addition, 12 homes with a listing price in excess of $3M have sold in Teton Valley in the last nine months. For the entirety of 2024, only seven homes sold in this same upper bracket.
Land & Ranches
Sales Volume By Area
As is often the case for Teton Valley, vacant land sales have been the most active segment of the regional real estate market. About half of all transaction in the region – or 221 sales of the Q3 total of 445 – involved raw land. Compared to last year, however, that activity is down 16 percent from 263 vacant land transactions through Q3 2024.
Despite the slip in activity, the median sales price grew from $220,000 in 2024 (for a 0.44-acre parcel in Teton Springs) to $230,000 in 2025 (for a 2.5-acre parcel in Victor). The average land sale price spiked more than 50 percent (or from $375,372 in 2024 to $591,182 this year) driven mostly by several larger agricultural parcels in excess of $3M each.
Bucking the trend for other property types in the region, vacant land inventory fell slightly in the last 12 months.
In October, 2024, 249 vacant land parcels were actively listed for sale across Victor, Driggs, Tetonia and Alta. One year later, that number has dropped slightly to 244.
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