Jackson Hole Real Estate Archives - Katie Brady Real Estate

New Listing :: 10+ acres in Elk Ridge Ranches

April 13, 2021/in Buyers, Featured Listing, Featured Listings, Housing, Jackson Hole Real Estate, New Listings, Over $1 million, Property Search, Snow King, Town of Jackson, WY/by Molly Stewart

2021: Q1 Sales & New Listings

April 13, 2021/in Asking Prices, Average Sales Price, Inventory Levels, Jackson Hole Real Estate, Jackson Hole Report, Land/Building Sites, Listing Prices, Luxury Property, Market Report, Market Reports, Market Statistics, Monthly Market Update, Multi-family, Over $1 million, Past Sales, Properties under $500, Real Estate Sales, Sale to List Price Ratio, Sales Volume, Sellers, Single family homes, The Jackson Hole Report, Town of Jackson, Townhome, Under $500, WY/by Molly Stewart

Reviewing first quarter stats is very helpful in evaluating the pre-pandemic real estate market to the post-pandemic real estate boom seen here in Jackson Hole as well as many other places in the country. We all know the market increased, but by how much? There were 40 more real estate sales in Q1 2021 than the same time in 2020, an increase of 44%. Despite seeing fewer sales in January 2021, sales in February and March were roughly double the pre-pandemic levels seen in early 2020. Sales volume has skyrocketed, with $175 million MORE in volume in Q1 2021, a staggering increase of 82% over the start of 2020. Similar to transactions, sales volume was inline with January 2020, but in February and March sales volume was double that of 2020, for a grand total of $389 million in the first quarter of 2021. It’s interesting to note that the 4-year average for sales volume in the first quarter is only $172 million – we’ve seen quite the increase over the last 5 years!

The average sale price was up each month and up $600,000 over the quarter, representing a 26% increase from early 2020. The median sale price was also up every month, ranging from $1.65 million to $2.14 million. Sales increased in nearly every price point with the largest increase in the $3 million and up segment, where there were 18 more sales in the first quarter of 2021. Sales in the $1-3 million range also saw a significant increase with 17 more sales this year. The biggest shift in property type was for vacant lots where nearly 2 times as many building sites sold in the first quarter of 2021, representing 24% of all sales (up from 16% in Q1 2020).

New listings in the first quarter of 2021 are actually up when compared to the start last year. The number of new listings this year outpaced 2020 in both January and March for a total of 10 more listings in the first quarter, an increase of 8.7%. This doesn’t necessarily mean there are more things to buy as nearly all of the available inventory was cleared out in Q3 & Q4 2020 during the pandemic inflicted real estate boom here in Jackson Hole. With only 10 more listings, the total listing volume was up $127 million, a staggering increase of 41.5%. After outpacing listing volume in January, and seeing similar levels in February, listing volume was $100 million higher in March 2021, with only 5 more listings. As to be expected, the average listing price jumped from $2.733 million before the pandemic, to $3.483 million in the start of 2021, an increase of $750,000 or 27%. This significant increase was no doubt helped by the month of March 2021 where the average listing price nearly reached $4 million. The average median listing price also increased significantly, going from $1.67 million to just over $2.2 million, an increase of over $500,000, equating to a 32% jump.

More building sites entered the market in Q1 2021, representing 23% of all new listings (vs. 17% in Q1 2020). Nearly all of the available lot inventory was sold out in Q3 and Q4 2020, no doubt encouraging other lot owners to take advantage of low supply levels and put their (snow covered) property on the market in early 2021. Currently there are only 19 lots for sale in all of Teton County! The first quarter saw a spike in new listings over $3 million with 20 more properties hitting the market in this price point. On the other end of the spectrum, there were 11 fewer listings under the $1 million mark. Currently there are only 8 properties in all of Teton County available under $1,000,000.

2021: March Market Report in Jackson Hole

April 12, 2021/in Average Sales Price, Buyers, Days on Market, Inventory Levels, Jackson Hole Real Estate, Jackson Hole Report, Listing Prices, Market Report, Market Reports, Market Statistics, Monthly Market Report, Monthly Market Update, New Listings, Real Estate Sales, Sale to List Price Ratio, Sales Volume, Sellers, Single family homes, Supply/Demand, The Jackson Hole Report/by Molly Stewart

Despite dwindling levels of inventory, real estate sales increased slightly in March with 48 transactions, more than double the number of sales last March 2020. While recording two more sales than February, total sales volume increased $18 million to $156 million. The average sale price topped $3 million for the third time in the last 5 months. The average number of days a property was on the market before closing dipped to 115, the lowest monthly average since September 2019, an illustration of the quick pace of homes going under contract soon after hitting the market. Demand remains high for Jackson Hole properties. Nearly half of all properties sold at or above their listing price in March – 13 sales at full listing price and 10 properties selling ABOVE the asking price, no doubt a result of multiple offers and bidding wars, a trend that is now becoming very common in our market. It’s interesting to note that 11 sales in March were undisclosed (marked a $0 in MLS), so applying the same rate, we could assume at least 5 more sales occurred at or above their listing prices, meaning that close to 60% of March sales were for full price or greater! As a result, after hitting a high of 99% in February, the average sale to list price ratio was 100% in March, a number never seen since I began tracking stats in 2013.

The majority (44%) of sales in March were for single family homes. With low available inventory, vacant lot sales remained strong, representing 23% of all transactions last month. Seventy (70%) percent of sales occurred above $1,000,000 in March, with half those sales occurring above $3 million, including a 7,400 sq ft 3 Creek house listed for $12.25 million, a ranch lot in Bar BC listed for $8.75 million and a 5 bedroom home in Teton Pines listed for $10.5 million.

New listings increased in March with 45 properties entering the market, the highest number of monthly listings in the last 6 months and slightly more than new listings in March of 2020. With an increase in listings came an increase in dollar volume with March’s new listings totaling more than $175 million. Not only is this the highest monthly listing volume since September 2020, it is also $114 million more than March 2020, which had only 5 fewer listings. Not surprising, the average listing price nearly reached $4 million in March 2021, up $2 million from March 2020! Thirteen new lot listings entered the market, the highest monthly total since September 2020, with an average listing price of $2.9 million.

Thirty-five of the 45 new listings were in excess of $1 million, while less than 1 in 4 properties entering the market in March was priced under the $1 million mark, including an 2 bedroom Elk Run townhome, a 1 bedroom condo in the Aspens and a 3 bedroom townhome in Cottonwood Flats, all of which received multiple offers pushing the contract price well over the listing price.

Currently there are just 46 total listings for residential property in Teton County. Available condos range from a Miller Park Loft unit for $549,000 to a 3 bedroom Four Seasons unit for $6,950,000. The least expensive single family home property is $3.1 million (a 1 bedroom ARU with room to build a main house). There are only 19 lots available for sale in Teton County, less than 2 months supply of inventory (based on last year’s 118 lot sales).

2021: February New Listings in Jackson Hole

March 9, 2021/in Inventory Levels, Jackson Hole Real Estate, Market Report, Market Reports, Market Statistics, Monthly Market Update, New Listings, Real Estate Sales/by Molly Stewart

Forty-one new listings entered the market in February, a slight, but welcomed uptick from December and January. Even though there were 3 more new listings than last month, dollar volume was down nearly $20 million from January. The average listing price dropped to $2.87 million, dipping below $3 million for the first time in the last 5 months. However, the median listing price was up, nearly reaching $3 million – the highest level since September 2020.

This can be explained by a surprising 10 new listings hitting the market in the $500,000 – $1,000,000 range – the first time we’ve seen double digits in this price point in the last 6 months. New listings in this range included several condo/townhomes in Town and smaller studio condo hotels in Teton Village. No new listings entered under $500,000 – a price point that has all but disappeared from the Jackson Hole market. On the other end of the spectrum, high-end listings continue to stream onto the market with 20 new listings in February over $3 million. Over the past 9 months, 214 luxury properties have entered the Jackson Hole market compared to 145 total for 2019.

The majority of new listings in February were actually condos / townhomes including several condo hotels in Teton Village and the first of a dozen “ultra luxury” townhomes in Town, known as The Glenwood and set to be completed in Feb 2022. Unusual for the middle of winter, 8 new lots hit the market in February including building sites in John Dodge, The Gill Addition and north of town. Despite the added inventory, there are only 22 lots available for sale in all of Teton County, with a median price of $3.5 million.

2021: February Sales in Jackson Hole

March 9, 2021/in Jackson Hole Real Estate, Market Report, Market Reports, Market Statistics, Monthly Market Update, Real Estate Sales/by Molly Stewart

After a slow start to 2021, monthly sales picked up in February, recording 9 more sales than January. While February’s 46 sales may not seem like much compared to the busy months of 2020 (where close to 100 properties sold in every month in Aug/Sept/Oct), there were 20 more sales in Feb 2021 than in Feb 2020 and Feb 2019. February dollar volume was also much higher with $138 million in sales – more than February 2020 and February 2019 COMBINED. At least 3 out of every 4 sales were over $1,000,000 in February, with 14 sales over $3 million, accounting for 30% of all monthly sales. As a result, the average sale price topped $3 million for only the second time since the pandemic’s real estate boom hit Jackson Hole. The median sale price was also up topping $2 million for the second time in the past 6 months.

While the average days on market for February was 130 days, the reality was properties were selling very quickly and very close to the asking price. Nearly half of all sales in February or at or above the listing prices, resulting in an average sale to list price ratio of 99% – the first time since I started keeping stats in 2013. Vacant land sales accounted for nearly a third of all February sales – by far the highest monthly representation since I began tracking stats. The spike in lot purchases is a telltale sign of extremely low inventory levels. When buyers can’t find what they want already built, they resort to purchasing land and building their own home. As a result, Teton County’s land inventory is the lowest it’s ever been.

2021: January New Listings in Jackson Hole

February 11, 2021/in Inventory Levels, Jackson Hole Real Estate, Market Report, Market Reports, Market Statistics, Monthly Market Update, New Listings, Real Estate Sales/by Molly Stewart

After a very slow end to the year (with only 29 new listings in Dec 2020), 38 properties hit the market in January to kick off the New Year. January 2021 marks the first time since June 2020 that there were MORE listings than monthly sales (albeit only 1 more), ending a trend that saw at one point more than twice as many sales as monthly listings. As a result of the unprecedented sales levels in the second half of 2020, Jackson Hole inventory is the lowest I’ve ever seen it. There are currently only 69 residential properties for sale in all of Teton County, with only 12 under $1,000,000. Exacerbating this trend, 29 of January’s 38 new listings were above $1 million, with 12 new listings over $3 million. The average list price of the properties entering the market in January was $3.6 million, actually a decline from December when the average list price pushed above $4 million. The median list price dipped below $2 million for the first time in the past 3 months. The majority (23) of new listings in January for were single family homes, including two homes in Teton Village above $10 million. Despite the winter weather, 7 new lot listings hit the market, including two lots in Jackson Hole Golf & Tennis (listed for $995,000 and $1,450,000) and a lot in Game Creek for $789,000, all of which have already sold or are under contract. In fact, of the 38 new listings in January, 25 are already under contract, further illustrating the fast pace of the market thanks to limited inventory and continued high levels of demand for Jackson Hole properties.

2021: January Sales in Jackson Hole

February 11, 2021/in Jackson Hole Real Estate, Market Report, Market Reports, Market Statistics, Monthly Market Update, Real Estate Sales/by Molly Stewart

After an unforgettable 2020, the first month of the New Year saw a decline in both real estate sales and dollar volume. Transactions were down 43% from December and marked the first time monthly sales dipped below 40 since June 2020, which was a slow month due to the COVID shut down in March and April. While January (and winter) is typically a slower month of the year, there were 4 fewer sales this past month than in January 2020. Total dollar volume was down nearly 50% from December, with just under $100,000,000 in January sales. Again, the first time we’ve seen dollar volume below $100 million since June 2020. Compared to last January 2020, sales volume was up slightly ($5 million), despite seeing 4 fewer sales. The decline in sales and volume is not an indication of a slowing market – quite the contrary, with demand for Jackson Hole properties far outweighing the available inventory levels (see below). The average sales price dipped in January, but was above $2.5 million for the 9th month in a row. The median sales price held steady at $1.65 million, nearly $400,000 higher than in January 2020. Demand for Jackson Hole properties remains very strong, with January sales closing, on average, at 97% of list price. Ten sales were at or above the listing prices in January, as more buyers seem to be circling than there are available listings. Single family homes accounted for just over half of all sales in January, a trend we’ve seen carry through from the second half of 2020. After 5 months of higher than usual land sales, that saw an average of 18 sales a month, vacant lot transactions dropped off in January, with only 5 sales. While nearly 3 out of every 4 sales in January occurred over $1 million, sales over $3 million declined with only 8 sales in January (after an average of 25 per month since July 2020).

New Listing :: Peaceful End Unit Condominium

February 9, 2021/in Buyers, Featured Listing, Featured Listings, Housing, Jackson Hole Real Estate, New Listings, Over $1 million, Property Search, Snow King, Town of Jackson, WY/by Molly Stewart

Located just steps away from Russ Garaman Park and Josie’s Ridge hiking and biking trails, this 3 bedroom condo is part of a small and private development right on Flat Creek. Enjoy commuting on the nearby bike path or relaxing next to the creek on HOA common area. This spacious end unit has a unique floor plan, a private entry way, and attached 2 car garage. The covered back deck allows year-round BBQing and is surrounded by mature willow trees affording a peaceful outdoor setting. The 9 foot high ceilings, hardwood floors and gas fireplace make this well cared for home a special find.

2020: Year End Review – Five Year Trends and 2021 Forecast

January 20, 2021/in Asking Prices, Average Sales Price, Buyers, Condos, Days on Market, Foreclosure Properties, High End Real Estate, Inventory Levels, Investment Property, Jackson Hole Real Estate, Jackson Hole Report, Market Report, Market Reports, Market Statistics, Multi-family, New Listings, Over $1 million, Past Sales, Properties under $500, Sale to List Price Ratio, Sales Volume, Sellers, Single family homes, Supply/Demand, The Jackson Hole Report, Town of Jackson, WY, Year in Review/by Molly Stewart

Real Estate Sales – Past 5 years

Well, 2020 was a year for the record books as statistics from this past year dwarfed all previous years. MLS sales had not exceeded 500 per year over the last 5 years and almost reached 650 in 2020 (a 37% increase over the previous 4 year average). Sales volume experienced even bigger gains in 2020. Looking back, we saw annual sales volume increasing from $634 million to $676 million from 2016 to 2017. The market took a jump in 2018, when sales volume increased more than $250 million from the previous year – a staggering 38% increase (with only a 13% increase in sales). The market stayed steady in 2019, with a similar level of sales and slightly less sales volume (about a 5% drop), a healthy sign after a very strong 2018. Enter 2020, where sales volume skyrocketed – up to $1.8 billion – more than DOUBLE the average annual sales volume of the previous 4 years. To put it in perspective: 2020 saw as much sales volume as 2018 & 2019 COMBINED!

As to be expected, the average sales price also experienced a record breaking increase, with the trend following that of sales volume: Average sales price hovered around $1.5 million in 2016 & 2017, jumped up to $1,892,000 in 2018 and cooled slightly in 2019 to just above $1.8 million. The average sales price in 2020 was $2.8 million, a $1,000,000 increase from 2019 and a 68% increase over the previous 4 year average. Wow! These record breaking increases were a result of unprecedented demand, as many out of town buyers flocked to Jackson Hole and competed with local buyers on property purchases. What resulted were many multiple offer situations, contributing to 170 properties selling at or above their listing prices in 2020 (more than 1 in every 4 sales). Compare that to the previous 4 years, where the highest percentage was 23% in 2018 (and only 17% last year). It’s interesting to track the various price points over the past 4 years. The $1-3 million segment follows the overall market growth, mirroring increases in overall sales and volume. In contrast, the luxury segment saw oversized growth in 2020. Back in 2017, there were just 42 sales in this high end segment. In 2018, sales in this segment jumped along with the overall market, recording 76 sales. After seeing a similar level of sales in 2019, this segment exploded in 2020 with 186 sales over $3 million, more than double the number of sales in the previous two years combined. On the other end of the spectrum, sales under $500,000 dropped off considerably in 2020, representing less than 5% of all sales.

Inventory Trends – Past 5 years

In a year of unprecedented demand, the Jackson Hole market saw a decline in inventory levels in 2020. Looking back over the past 5 years, new listings in 2016-2018 ranged between 613-632 per year. As a result of a busy 2018 in sales, sellers responded and new listings jumped in 2019, with nearly 700 new listings hitting the market. In 2020, inventory levels actually dropped, with barely enough new listings (685) to replace the 643 sales in 2020. It’s interesting to analyze the gap between sales and new listings over the past 5 years. In 2016 & 2017, new listings outpaced sales by 170 properties each year. In 2018, inventory tightened a bit, with 138 more listings than sales. In 2019, more listings hit the market, an increase in supply which held sales (and dollar volume) steady, as new listings outpaced sales by 203 properties. Compare those trends to 2020, where the gap between listings and sales was only 42, by far the lowest supply to demand (sales) we’ve seen yet.

Despite seeing fewer listings in 2020, the listing volume increased significantly from 2019, recording 17% more in volume (with 11 fewer listings). Looking back over the last 5 years, listing volume has increased each year, growing by roughly $250 million in the past 2 years in particular. The year 2020 saw a $325 million increase from 2019, pretty amazing considering there were actually fewer new listings in 2020! After increasing 12% in 2018, and holding steady in 2019 at just under $2.5 million, the average listing price jumped significantly in 2020 – up to more than $3.2 million, a 30% increase over 2019.

By all accounts, 2020 in the Jackson Hole real estate market was one for the record books. Annual sales were up 30% and overall sales volume in 2020 was more than double that of 2019. The average sales price was $1 million higher than in 2019. Fewer listings came onto the market, but did so at higher prices as listing volume increased 17% and the average listing price nearly reached $3.2 million.

The global pandemic had buyers from all over the country, many of whom could now work remotely, escaping to less populated areas with access to the outdoors. Many had dreams to one day move to Jackson Hole, a favorite vacation spot, and the pandemic encouraged them to act. We saw buyers urgently shopping for Jackson Hole real estate at all price points, adding tremendous demand to a market with, for the most part, a permanently limited supply of properties.

Now with the vaccine rollout and a hint of normalcy on the horizon, do people still need to escape? Is it a permanent lifestyle change or just a temporary exodus? Do these buyers miss the city enough to move back? Even if they do move back, will we see that inventory come back on the market? Or, will many elect to keep their newly purchased property as a vacation home? How much inventory (supply) do we need to see a real effect on pricing? Right now, the Jackson Hole market has the lowest level of inventory in recent history. Pre-pandemic, demand for Jackson Hole properties was strong. Even if we go back to previous levels, there will still be enough demand to eat up existing low inventory levels. Regardless of the demand changes, we would need to see supply increase significantly for pricing to be affected.

Looking back over the past 30 years, Jackson Hole real estate has seen, on average, 6-8% annual appreciation, with a 5-10% correction every 5 years or so. The Jackson Hole market has been growing at a strong pace for the past 5+ years, with 2020 being an explosive year. For example a newly built home in Town sold for $675,000 in 2014, sold again for $1,050,000 in 2018 and was just listed for $2,150,000 – and is under contract! Some will argue that these levels of appreciation simply cannot continue and at some point we will see a correction. In larger markets and pockets in the nation that may be true, but will we see a correction in Jackson Hole? Again, to see any affect on pricing we need to see a sharp drop in demand or a significant increase in supply. At this point, it’s hard to imagine either of those happening. We are still seeing buyers from across the country move their money from the stock market into real estate. Jackson Hole will continue to be a draw for many who value a sense of community, outdoor recreation and mountain living.

I think 2021 will be another strong year for Jackson Hole real estate. Record low inventory levels will make it challenging for all buyers, creating competition and multiple offers. We may see fewer sales because there are simply less options on the market, but pricing and values will remain strong.

Track your property’s value in today’s market. Be familiar with comparable sales, but also focus on current inventory levels, which may have more impact on market value. Properties that are priced with those two things in mind (vs. putting an unreasonable price tag on it) are receiving the most interest and selling quickly. (Talk to Katie about an aggressive yet accurate pricing strategy.)

Strategize for mass market exposure. There are many buyers out there with limited options to buy. As a seller, you will have the most success if you can reach them all at once. Finding one buyer will not be difficult, your goal should be to bring all the interested buyers to the table at the same time in order to achieve your desired terms of sale. (Talk to Katie about her unique strategies to obtain mass market exposure.)

Be prepared for multiple or quick offers. Think about what terms are most important to you: price? leaseback? quick closing? Focus on buyer’s enthusiasm and ability to preform.

Prepare your home for sale: De-clutter, clean up, work on deferred maintenance items, etc. Move in ready and remodeled properties are receiving the most attention. Discuss which (if any) updates will produce a higher return. (Have Katie join you for a tour of your home to discuss what you can do to increase your home’s value.)

Know and follow the market. What are the recent comps? How are current inventory levels? Are you learning about properties before they hit the market? (Talk to Katie to make sure she is on the look out for soon to be listed properties for you.)

Determine what you want and be ready to act quickly. Know that there are many buyers for the same property. Get all your ducks in a row now. How will you position yourself to be the best candidate in a multiple offer situation? (Talk to Katie about proven strategies to “win” in these competitive situations.)

If you need to sell your home to buy something else, prepare your home now so that you will be ready to list as soon as you find the right property. Be prepared for things to move quickly when that happens. Explore options that would allow you to purchase before selling (i.e. bridge financing, leasebacks, etc.) (Ask Katie to help you crunch numbers and brainstorm options.)

2020: Year End Listings Review – Jackson Hole

January 19, 2021/in Asking Prices, Average Sales Price, Buyers, Condos, Days on Market, Foreclosure Properties, High End Real Estate, Inventory Levels, Investment Property, Jackson Hole Real Estate, Jackson Hole Report, Market Report, Market Reports, Market Statistics, Multi-family, New Listings, Over $1 million, Past Sales, Properties under $500, Sale to List Price Ratio, Sales Volume, Sellers, Single family homes, Supply/Demand, The Jackson Hole Report, Town of Jackson, WY, Year in Review/by Molly Stewart

New Listings in 2020

Slightly fewer new listings came onto the market in 2020 than in 2019. For many years, the Jackson Hole real estate market has suffered from low inventory levels (and high demand) and this year was no different. Through the first two quarters, new inventory trailed 2019 by 40 listings. After demand for Jackson real estate exploded in Q3, more sellers were encouraged to put their properties on the market for sale and new listings outpaced 2019 in the second half of the year. Despite seeing a total of 11 fewer new listings in all of 2020, the dollar volume of those 2020 listings was significantly higher. New listing volume outpaced 2019 in 3 of the 4 quarters, finishing the year with $2.175 billion worth of new inventory – a staggering $323 million increase in new listing volume (with 11 fewer listings!). As a result, the average listing price jumped to over $3.1 million in 2020 (from $2.66 million in 2019). The median list price also increased in 2020, up over $2 million for the first time since I began tracking stats in 2013. An interesting thing happened in August of 2020: monthly sales started outpacing monthly new listings, meaning new properties hitting the market were not keeping pace with property purchases – further diminishing already low inventory levels and putting additional upward pressure on pricing.

Not surprising, 70% of new listings in 2020 were in excess of $1 million, with this segment seeing 32 more listings than in 2019. Breaking it down further, the largest shift occurred in the luxury market ($3+ million), which saw 83 more listings in 2020. All other segments under $3 million actually saw a decrease in new listings in 2020, with the $1-3 million price point seeing the largest drop (51 fewer listings than 2019). The breakdown in property type was consistent with 2019, so the shift in listing price can’t be explained by simply “more single family home listings” – prices were up across the board, with all property types seeing an increase in average listing prices. That being said, we saw the largest spike in single family home listings come at the start of the third quarter, no doubt contributing to the record breaking sales numbers this past summer.

Property Details

LOT 4 WESTERN SKY DR, Etna, WY 83120

Transactions/Sales Volume – What Sold?

$2,970,116

Average Sales Price

$389M

Total Sales Volume

Market Analysis

New Listings – What’s New?

$3,483,409

AvERAGE LIST PRICE

$433,241,500

LIST PRICE Volume

Market Analysis

Note: All statistics are pulled from Teton Board of Realtors Multiple Listing Service for residential sales/listings in Teton County, WY for the dates specified above. It is estimated that sales outside of MLS account for an additional 10-20% of transactions/volume. Contact Katie for more details.

What SOLD in March?

$156M

Total Sales Volume

100%

Sales:List Price Ratio

Market Analysis

23%

Land Sales

$3,248,487

AVERAGE SALES PRICE

71%

of property sales over $1M

17

TRANSACTIONS OVER $3M

NEW LISTINGS in March

$176,814,500

New Listing Volume

Market Analysis

$1.75M

MEDIAN LIST PRICE

$3.9M

Average List Price

13

Vacant Lot Listings

35

Listings over $1M

Note: All statistics are pulled from Teton Board of Realtors Multiple Listing Service for residential sales/listings in Teton County, WY for the dates specified above. It is estimated that sales outside of MLS account for an additional 10-20% of transactions/volume. Contact Katie for more details.

NEW LISTINGS in February

$117,921,000

New Listing Volume

Market Analysis

$2.95M

MEDIAN LIST PRICE

$2.876M

Average List Price

8

Vacant Lot Listings

31

Listings over $1M

Note: All statistics are pulled from Teton Board of Realtors Multiple Listing Service for residential sales/listings in Teton County, WY for the dates specified above. It is estimated that sales outside of MLS account for an additional 10-20% of transactions/volume. Contact Katie for more details.

What SOLD in February?

$138M

Total Sales Volume

Market Analysis

30%

Land Sales

$2,137,500

MEDIAN SALES PRICE

76%

of property sales over $1M

14

TRANSACTIONS OVER $3M

Note: All statistics are pulled from Teton Board of Realtors Multiple Listing Service for residential sales/listings in Teton County, WY for the dates specified above. It is estimated that sales outside of MLS account for an additional 10-20% of transactions/volume. Contact Katie for more details.

What happened in January?

New Listings

$138,506,000

New Listing Volume

7

Vacant Lot Listings

$3.65M

Average List Price

$1.92M

MEDIAN LIST PRICE

2

listing under $500,000