35+ Acre Properties Farm & Ranch

VALLEY-WIDE: Farm and ranch properties continue to see little interest the past couple of years.  There were three sales for 2011, with only one of those reported to our MLS.  The lack of interest can still be attributed to the higher asking prices that larger tracts of land tend to garner, and fewer buyers searching for ranch style properties, or large parcels of raw land.  Although many deals can still be found in Star Valley, this type of buyer is still holding back in today’s market.  We have seen an increase in the number of buyers interested in investment properties, such as rental homes and or apartment complexes.  This shift in the Buyer’s focus is probably playing a part in why we are seeing fewer sales in Farm and Ranch, and more interest in distressed homes.

SALES BY AREA:
Northern Star Valley had one farm and ranch sale.

Southern Star Valley had two farm and ranch sales.

OTHER Farm & Ranch STATS:
Under Contract: two, with both in Southern Star Valley.

Active Listings: 31 with an average list price of $1,402,983 and a median list price of $795,000.

Least Expensive listing: $180,000 – a 40 acre parcel in the Bedford area.

Most expensive listing: $4,720,000 – this buys you a home on 590 acres in the Thayne area.

* 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 2011.
* 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.

© Copyright 2004 - 2012 by Jackson Hole Real Estate Associates LLC. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means without explicit written permission from Jackson Hole Real Estate Associates, LLC.

35+ ACRE PROPERTIES Farm & Ranch

VALLEY-WIDE: This segment of the Star Valley market continues to see little activity.  There was only one 35+ acre sale in the first six months, which was in Northern Star Valley, and it was not disclosed to the local MLS.  With the slowdown in the real estate market, the demand for larger tracts in the valley has definitely decreased.  There is virtually no development of subdivisions in the valley, due mainly to the carrying cost of infrastructure and the slow absorption rates of vacant lots.

OTHER VALLEY-WIDE STATS:

Under Contract: 0.

Active Listings: 30 with an average list price of $1,647,558 and a median list price of $850,000.

Least Expensive listing: $199,000 for 35 acres in the Fairview area.

Most expensive listing: $6,000,000 – this buys you a small cabin on 590 acres in the Thayne area with Salt River frontage and bordering Caribou National Forest.

* 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 2011.

* 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.

© Copyright 2004 – 2011 by Jackson Hole Real Estate Associates LLC. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means without explicit written permission from Jackson Hole Real Estate Associates, LLC.