Monthly Market Update for July 2013
Jackson Hole, WY
Summary – June 2013:
• 41 :: Total residential sale transactions (a dip from last month’s high of 61)
• $44,000,000 :: Total residential sales volume (a dip from last month’s high of $68m)
• $948,000 :: Average sales price (down from last month’s $1,160,000)
• 94% :: Ratio of sales price to list price (a slight drop from the last few months)
• 328 :: Average days on market prior to selling (similar to last month)
What it means: The month of June wasn’t as spectacular as May as we saw a dip in both Transactions and Sales Volume this past month. However, the market continues to remain hot as many well priced opportunities don’t remain on the market for long. The average sales price of $948,000 remains near the typical average for Teton County. Sales price to list price ratio dropped slightly to 94% on average; however many properties in the lower price ranges (sub $500,000) are selling very close to, or above, the listing price. On the surface, the average days on market remains consistent with past months, however a closer look reveals several properties that finally sold this month after being on the market for over 1,000 days. When you remove these outliers, all other properties closed after an average of 221 days, a number more representative of our faster moving market.
Please visit the Monthly Market Update tab for the entire July Market Report.
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