Monthly Market Update for August 2013
Jackson Hole, WY
What Sold in July 2013?
- 46% :: Percentage of single family home sales (similar to last month)
- 31% :: Percentage of condo/townhome sales (vs. 26% last month)
- 18% :: Percentage of Land Sales (down from last month’s high of 26%)
- 4% :: Percentage of distressed property sales (down from the last few months)
- 27% :: Percentage of residential properties selling for over $1 million (vs. 32% in June)
- 73% :: Percentage of residential properties selling for under $1 million (vs. 68% in June)
- 42% :: Percentage of residential properties selling for under $500,000 (vs. 41% in June)
What it means: Single family homes continue to make up just under 1/2 of all residential sales in Teton County. This month saw a higher than usual number of condo/townhome sales. As mentioned in the summary, the average sales price this month is unusually low at $734,579. This is a result of several lower priced townhome/condo sales (5 sales in Town under $400,000) and, in particular, several land sales under $350,000 in Town and Rafter J. The number of land sales took a slight dip after month over month increases (See Jackson Area Land Sales-June 2013), however building site sales still make up a significant portion of all sales – 18% this month. Distressed Property Sales (bank sales or short sales) seem to be disappearing from the real estate market in Jackson Hole; this month there were only 2 short sales and NO bank sales (See chart below).
Please visit the Monthly Market Update tab for the entire August Market Report.
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