Monthly Market Update for August 2013
Jackson Hole, WY
Summary – July 2013:
- 45 :: Total residential sale transactions (similar to last month (41), but a dip from May’s high of 61)
- $47,000,000 :: Total residential sales volume (similar to last month ($44m), but a dip from May’s high of $68m)
- $734,579 :: Average sales price (down again from last month’s $948,000)
- 96% :: Ratio of sales price to list price (up from last month’s 94%)
- 224 :: Average days on market prior to selling (down significantly from the last few months)
What it means: The trends and statistics for the month of July were very similar to June, suggesting a leveling out from May’s high point. By adding 3 unreported sales to the MLS data (approx value of $18 million), our total sales volume reaches a level similar to June. The average sales price dropped again this month to $734,579 (a lower than average value), helped in part by several land and condo/townhome sales under $500,000 (see “What Sold”). Sales price to list price ratio rose slightly to 96%; meaning on average, buyers are purchasing homes for 4% less than the latest listing price. Average days on market dropped over 30% from last month. This is a result of many well priced properties (in all price ranges) that sold very quickly (See “Market Focus”).
Please visit the Monthly Market Update tab for the entire August Market Report.
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