The Colbert Real Estate Report
Monthly Market Update for July 2016
Jackson Hole, WY
What Sold in June 2016?
- 55% :: Percentage of single family home sales (back up after low last month)
- 38% :: Percentage of condo/townhome sales (down after high last month)
- 7% :: Percentage of Land Sales (down for second month in a row)
- 45% :: Percentage of residential properties selling for over $1 million (up again from last month)
- 55% :: Percentage of residential properties selling for under $1 million (down again from last month)
- 16% :: Percentage of residential properties selling for under $500,000 (half of last month)
What it means: Single family homes sales are back up after a slow May, representing over half of all property sales in June. Condos and townhome sales dipped after a strong showing in May. Land sales declined again last month (only 4 sales in June), as many buyers focus their attention on the influx of existing homes and townhomes that have come onto the market in the last few months. Entry level sales took a dip after a strong May, with only 15% of all sales occurring under $500,000 in June. The “hot spot” in June was the $500,000 – $1,000,000 price range, representing 36% of all sales last month. Sales in this segment included several vacation condos in The Aspens and Teton Village and several single family homes in Rafter J and Cottonwood Park, which are popular with local buyers. Property sales over $1 million increased for a second month in a row, accounting for 45% of all sales. High end property sales (defined as sales over $3 million) slowed in June as only 4 sales occurred in this price range (7% of all sales). Three of these high end sales were in Granite Ridge – 2 cabins (pictured below) and the last remaining undeveloped slopeside lot in the development.
One of 2 Granite Ridge cabins that sold in June (listed by JH Sotheby’s)
Click HERE to read the full Monthly Market Update for July 2016.
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