On behalf of our team of dedicated professionals at Jackson Hole Real Estate Associates, we are pleased to present our comprehensive market report for midyear 2018. In this detailed report, you will find information on the market segments making up the Teton Valley area, including Alta, Wyoming. As the market leader, we have developed a more dynamic report that sheds fresh light on the insights and trends that are shaping our real estate market.
The market in the first half of 2018 experienced an increase in the number of transactions, up about 7% compared to 2017. The average sale price and median sale price both decreased slightly. There was a slight change in total dollar volume from $55,153,845 in the first half of 2017 to $55,285,765 in the first half of 2018. The inventory shortage did not improve compared to 2017. Inventory was down 4%, and single-family home inventory was down 8%. Condominium inventory increased 20%.
