Monthly Market Update for June 2014
Jackson Hole, WY
Summary – May 2014:
- 35 :: Total residential sale transactions (identical to last month)
- $25,000,000 :: Total residential sales volume reported to MLS (less than last month’s $29 million)
- $918,000:: Average sales price of reported sales (up again from last month’s $892k)
- 95% :: Ratio of sales price to list price (up slightly from last month’s 94%)
- 439* :: Average days on market prior to selling (up again from last month’s 355 days)
What it means: May’s transactions were identical to April, while reported sales volume took a slight dip (down $4 million). However, in May there were 7 transactions that were not reported to the MLS which total an estimated additional $6 million in sales volume. The average sales price was up again last month suggesting that sales prices overall are on the rise. However, average sales prices are still lower than last Fall (see chart below). The sale price to list price ratio slightly increased last month, meaning buyers are purchasing, on average, closer to the asking price. The average days on market appears to have increased substantially however a closer look at the numbers reveals that this statistic is skewed this month due to 5 lot sales in the King Eider development (which have been on the market since October 2009). Removing these outliers gives us a much more realistic average of 232 days on market.
Please visit the Real Estate Market Report tab for the entire June Market Report.
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