The Colbert Real Estate Report
Monthly Market Update for Jan 2017
Jackson Hole, WY
What’s new in Dec 2016? (New Listing Analysis)
- 23 :: Total New Listings in Dec
- New Listing Volume: $37,400,000
- Average List Price: $1,626,000
- 17 :: New Residential Properties (single family, townhome, condo)
- Average List Price: $1,860,000
- New listings priced under $1 million :: 7 (41%)
- New listings already under contract or sold: 5 (29%)
- 6 :: New Building Sites
- Average List Price: $970,000
- New listings priced under $1 million :: 5 (71%)
- New listings already under contract or sold: 1 (6%)
What it means: The pace of new inventory entering the market continues to drag as just 23 new listings hit the market in December, a fraction of new inventory levels seen during the spring and summer months (see chart below). The low levels of new inventory this December are lower than levels seen in Dec 2014 & Dec 2015, a problem for a real estate market already extremely low on inventory. While new listings did increase slightly from November to December, dollar volume of new listings increased $12.5 million, as several high end listings hit the market. In December, there were 7 new listings in Teton Village (home to Jackson Hole Mountain Resort), totaling over $22 million, and including 3 properties priced over $3 million each. As a result of these high priced listings, the average asking price increased in December, reaching over $1.625 million. Well priced and/or high demand properties continue to go under contract quickly. Six properties, including a 2 bedroom condo in Town, a townhome in Rafter J and a 3 bedroom townhome adjacent to open space in The Aspens, already have sales pending.
Notable new listings in Dec include:
- Two condo hotels in Hotel Terra – starting at $575,000
- Newer 3 bedroom home in the Daisy Bush neighborhood in E Jackson – $1,300,000
- Four AR zoned building sites on Glenwood in Town – starting at $610,000
Click HERE to view all available December residential listings.
Click HERE to view all available December land listings.
(Contact me to view any pending or sold properties.)
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