The New Year started out strong with 41 real estate sales in January 2020, an increase of 20% from December 2019. Those 41 sales translated to $90 million in sales volume, the highest monthly volume in the past 3 months. As a result, the average sale price for January 2020 reached $2.2 million, breaking $2 million for the first time since August 2019. The median sale price dropped $130,000 to $1.27 million in January with 34% of all sales occurring under $1 million and another 12 sales occurring between $1,000,000 – $1,300,000. Days on market increased slightly in January, with the average property selling in 191 days, however high demand and well priced listings are selling much more quickly. The sale to list price ratio remained at 95% for the third month in a row, with 7 of the 41 sales occurring at or above the listing price including a stand-alone townhome on East Hall, that received five offers in the first few days of listing, quickly selling for full price of $1,095,000 . The majority (41%) of the sales in January were single family homes, while townhomes accounted for 37% of all sales. Interestingly, there were 9 lot sales in January representing nearly 1 in every 4 sales last month, quite the increase considering that vacant land accounted for an average of 14% of all sales over the last 8 months. Nearly half (44%) of all sales occurred in the $1-3 million range, perhaps signalling a trend after representing 50% of all sales in Dec 2019. The high end segment started the New Year strong with 9 sales over $3 million in January, including several homes around Teton Village in Shooting Star, Granite Ridge, and Lake Creek Ranch.

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.