The Colbert Real Estate Report

Monthly Market Update for January 2015 & Year End 2014

Jackson Hole, WY

Summary – Dec 2014:

• 34 :: Total residential sale transactions (up slightly from Nov’s 30 transactions)
• $29,300,000 :: Total residential sales volume reported to MLS (up slightly from last month’s $23.8m)
• $946,000::  Average sales price of reported sales (up slightly, still close to typical average)
• 95% ::  Ratio of sales price to list price (same for the 3rd month in a row)
• 215 ::  Average days on market prior to selling (up from last month’s 170)

What it means: The year 2014 did not end with much fanfare for real estate in Teton County . Transactions were only slightly up from November and were below average compared to the rest of 2014 (see chart below). The summer and fall months of August, September and October proved to be the high point for the year, accounting for over 35% of the year’s transactions (159 sales). Sales Volume in December was also up slightly from November, but significantly lower than the monthly average for 2014 ($36,700,000 per month). There were 3 unreported sales in December, accounting for an estimated $8 million in additional sales volume, bringing the total sales volume in December to around $37 million, which is one of the lower volumes seen in 2014 (see Sales Volume WITH Unreported Sales chart below). August, September and October accounted for over $200,000,000 in sales, a whopping 47.5% of sales volume for the entire year!  The average sales price in December remained close to average at $946,000. The sale price to list price ratio in December stayed at 95% for the third month in a row and reflected a month that saw a handful of sales at or above list price as well as several heavily discounted sales (10% or more). Properties that are priced competitively and/or those that are in low inventory segments, continue to sell very quickly, while sellers who are testing the market tend to have properties that stay on the market longer or sell at a discount.

 

Click HERE to read the full Monthly Market Update for January 2015 and Year End 2014.

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