Vacant Land 2015 Mid-Year
The vacant land segment largely recuperated from the economic downturn and showed solid gains in the first half of 2015, with
transactions up 18%. As with all other segments of the market, the vacant land segment experienced an upward shift in price level
distribution, which pushed the average sale price up 15%, and the total dollar volume up nearly 48%. The number of vacant land
transactions under $500,000 dropped 20% while the number of transactions over $1 million increased over 40%. In fact, there were
3 sales in the over $5 million segment. Teton Village experienced the majority of land sales spurred by the popularity of the Shooting
Star development. The active inventory for vacant land decreased 15% when compared to the same time last year, and there is
currently about 16 months’ worth of inventory on the market.