Real Estate sales dropped 31% from October recording only 40 sales in November. While down from the past few months, November’s sales were in line with levels seen in May/June 2019. Overall sales volume was also down in November, falling short of $80 million and dropping below $100 million for the first time in 4 months. The average sale price inched up to just under $2 million, however the median sales price has stayed steady around $1.1 million for the third month in a row. While properties are selling at a similar amount of time (150+/- days in 3 of the last 4 months), they were selling at more of a discount to list price in November. Last month, properties sold on average at 95% of their listing price with only 3 properties selling at or above list price. Note that in October, 15 properties sold at or above list price (representing 25% of all sales). Townhome and condo sales increased significantly, representing nearly 50% of all sales in November – a strong showing considering this segment represented 36%-39% of all sales over the past few months. Usually accounting for 43-52% of sales, transactions in the $1-3 million range dropped significantly in November with only 11 transactions representing 28% of all sales. The majority (40%) of November sales were in the $500,000 – $1,000,000 price point. On the other end of the spectrum, property sales in the high-end saw an uptick with 10 sales over $3 million, accounting for 1 out of every 4 sales in November.

The Jackson Hole real estate market does not appear to be slowing down one bit as October sales (58) kept pace with a busy end of summer. Total sales volume topped $100 million for the third month in a row! – An unprecedented stretch not seen in our recent market (since I began tallying stats in 2013 anyway). The average sales price of $1.87 million was a slight increase from September but was still below the high of $2.022 million from August 2019. Median sales price remained steady at just above $1.1 million. The average days on market increased after a low of 111 days in September, however properties were still selling at 96% of list price on average. In particular, 15 properties (25% of all sales) sold AT or ABOVE their listing price in October. Single family homes represented an even 50% of all October sales, while land purchases showed no signs of slowing, accounting for 14% of all sales for the second month in a row. Properties selling under $500,000 increased in October thanks to several sales of the last remaining Virginian Village condos in the Town of Jackson. The majority (43%) of all sales occurred in the $1-3 million price point for the third month in a row. The high-end segment of the market remained strong with 8 more sales over $3 million, accounting for a solid 14% of sales seen in October.

Real Estate Sales were up in August in Jackson Hole, reaching 50 sales and recording the highest monthly total of the year. Overall Sales Volume was also up this past month, topping $100 million for the first time in 2019. Thanks to 7 high-end sales over $3 million in August (including a 13 acre private estate in Wilson- selling for just under $18 million), the average sale price surpassed $2 million for the first time in the past 6 months. The median sale price was also up, reaching $1,326,000 and illustrating that August prices were up across the board, not just in the high-end. Case in point, over half of August sales were in the $1-3 million range, a price point usually accounting for 20-35% of monthly sales. Only 3 sales occurred under $500,000, the lowest monthly level seen in 2019, representing only 6% of total sales. Single family homes dominated the sale sheet in August, representing 60% of all sales while the number of townhome sales dipped, accounting for less than a quarter of August sales. The average days on market increased slightly in August while the sale to list price ratio dropped back down to 96%, illustrating that properties selling in August sat on the market a little longer and sold for a little less that previous months, perhaps signalling a slowing of the fast paced appreciation seen in the early summer months.