Six high end homes ($3+ million) enter market in November

The Colbert Real Estate Report

Monthly Market Update for Dec 2017

Jackson Hole, WY

What’s new in Nov 2017? (New Listing Analysis)

  • 20 :: Total New Listings
    • New Listing Volume: $43,026,000
    • Average List Price: $2,151,000
  • 19 :: New Residential Properties (single family, townhome, condo)
    • Average List Price: $2,217,000
    • Median List Price: $1,150,000
    • New listings priced under $1 million :: 9  (47%)
    • New listings priced under $500,000 :: 1 (5%)
    • New listings already under contract or sold: 5 (26%)
  • 1 :: New Building Sites
    • Average List Price: $899,000
    • Median List Price: $899,000
    • New listings priced under $1 million :: 1 (100%)
    • New listings priced under $500,000 :: 0 (0%)
    • New listings already under contract or sold: 0 (0%)
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What it means: Continuing a decline started in August, only 20 new listings hit the Jackson Hole real estate market in November, the lowest monthly level since last November (2016). While the number of new listings was down in November, total dollar volume of these new listings was actually up from last month (which saw 29 new listings). Six high end listings (priced over $3 million) hit the market in November including 2 homes in Granite Ridge, offering ski-in, ski-out access to Jackson Hole Mountain Resort (starting at $4.2 million) and a 9,500 square foot home in the exclusive Indian Springs neighborhood, listed at $9.7 million. As such, the average listing price jumped back up above $2 million after a low of $1.2 million last month. Only one new listing in November was priced under $500,000 (a one bedroom Aspens condo for $469,000). Of the 8 properties listed between $500,000 – $1,000,000, 5 are already under contract, illustrating the continued high demand for this price point.** Historically, November is not a popular time to list vacant land, as only one new lot listing hit the market in November (a 5 acre lot on the bench of the Snake River in the Solitude neighborhood north of Town). 

**During times of low inventory and high demand (i.e. the current state of our market), many properties aren’t even hitting the open MLS market before selling. If you have a specific property type/location/price in mind, please contact me so that I can be on the look out for off-market or soon-to-be-listed properties for you.) 

Notable new listings in November include:

  • Fixer Upper home on 6 acres in Red Top Meadows – $695,000
  • Newly built contemporary home with Snow King views – $1,150,000
  • Three bedroom ski-in, ski-out condo at Hotel Terra – $1,449,000

Click HERE to view all Nov residential listings.

Click HERE to view all Nov land listings.

(Note: Links above are good for one month after report is published.)


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