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.

Interested in learning more? Email me at katiecolbert123@gmail.com for more information on anything real estate related – a history of a specific property, a market update on your neighborhood, a mortgage payment calculation for a certain price range – I’m happy to help! Please also consider following me on social media for up to date new listings, market stats and Jackson Hole real estate news.