March sales continue trend of increasing sales prices in Jackson Hole
The Colbert Real Estate Report
Monthly Market Update for April 2015
Jackson Hole, WY
Summary – Mar 2015:
- 33 :: Total residential sale transactions (down slightly from Feb’s 35)
- $52,000,000 :: Total residential sales volume reported to MLS (up slightly from last month)
- $1,570,000:: Average sales price of reported sales (identical to last month)
- 95% :: Ratio of sales price to list price (up slightly from last month)
- 239 :: Average days on market prior to selling (up slightly from last month’s 243)
- 48 :: Number of new listings in March
- $1,240,000 :: Average list price of new listings
- 15 :: Number of those new listings currently under contract or already sold
What it means: The month of March echoed the trends/statistics we saw in February. Sales Volume remained close to $50 million (the highest levels we’ve seen in 2015) and sale transactions hovered near 30. We continue to see a lower amount of sale transactions as a result of extremely low inventory levels. Despite limited sale transactions however, the average sales price remained near $1.5 million, due to several high end sales in March (see What Sold below). The average sales price has been increasing, month over month, since November 2014 (see chart below). Sale price to list price and average days on market in March remained close to February numbers.
NEW THIS MONTH: Every month going forward, I will be monitoring new residential listings, the average list prices of those listings and tracking how many of them go under contract (or sell) within the month. These benchmarks should help keep an eye on inventory levels and can help us understand the relationship between new inventory (new supply) and sales prices. See the Market Focus section below for an in-depth analysis of past patterns of new listings/inventory levels in Teton County.
Click HERE to read the entire Monthly Market Update for April.
Interested in keeping an eye on new listings this spring/summer? Would you like to be alerted as soon as a new listing hits the market in a particular location or price range?
