Condo sales rebound in 2015 slow December

The Colbert Real Estate Report

Monthly Market Update for February 2015

Jackson Hole, WY

What Sold in Jan 2015? 

  • 55% :: Percentage of single family home sales (down from last month’s 62%)
  • 36% :: Percentage of condo/townhome sales (up from the lowest % of 2014)
  • 9% :: Percentage of Land Sales (down from last month’s 20%)
  • 0 :: Number of distressed property sales (No bank or short sales)
  • 23% :: Percentage of residential properties selling for over $1 million (back down after a peak last month)
  • 77% :: Percentage of residential properties selling for under $1 million (back to a high)
  • 27% :: Percentage of residential properties selling for under $500,000 (down again from last month)

What it means: The breakdown of property types returned to more typical distributions last month, with about 55% of all sales representing single family homes. Condo and townhome sales rebounded in January after reporting the lowest percentage of sales in over 2 years in December 2014. There were 2 land sales in January, representing 9% of all sales. There were no bank or short sales last month and there continue to be no distressed sales on the market, suggesting that the ‘shadow’ inventory has been fully absorbed. The percentage of properties selling for over $1 million dropped back down after a peak in December. In January , 27% of the property sales were for $500,000 or under, lower than the 2014 average of 34%. Of the 6 sales under $500,000, all were for 1-2 bedroom condos. The least expensive single family home sale in January was a 1,665 sq foot house in Cottonwood Park, which sold for just under $650,000.





Click HERE to read the full Monthly Market Update for February 2015.

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