The Colbert Real Estate Report
Monthly Market Update for Nov 2016
Jackson Hole, WY
What Sold in Oct 2016?
- 45% :: Percentage of residential properties selling for over $1 million (steady for past few months)
- 55% :: Percentage of residential properties selling for under $1 million
- 12% :: Percentage of residential properties selling for under $500,000 (second month in decline)
- 53% :: Percentage of single family home sales (back up after low last month)
- 33% :: Percentage of condo/townhome sales (similar to last month)
- 14% :: Percentage of Land Sales (down from high last month)
What it means: Entry level sales dropped again in October, as only 6 properties sold for under $500,000, including a vacant lot in Squaw Creek and a steep vacant lot in Hidden Ranch, that finally sold after more than 4.5 years on the market! Unfortunately, Jackson Hole opportunities for entry level buyers are shrinking as only 1 out of every 8 sales occurred in this price point last month. Currently there are 22 available properties (condos/townhomes/homes) and 14 available lots for buyers looking to stay under the half million mark. Condo and tonwhome sales remained steady in October, accounting for exactly one third of all property sales in Teton County. There were 9 condo/townhome sales under $750,000 in October, all located in the Town of Jackson, including a 2,000 townhome in E Jackson, which received multiple offers and sold for $675,000. On the other end of the spectrum, this month also saw a few high-end condo sales in Town (Pearl at Jackson & Love Ridge) and Teton Village, where a 3,400 sq foot residence at the Four Seasons sold for $5.5 million. Single family homes sales were back up after a low last month, representing over half of all sales in October. Single family homes priced under $1 million continue to sell quickly, due to high demand and low inventory in this segment. Currently there are only 15 single family homes (with at least 3 bedrooms) for sale in Teton County under $1 million. After increasing since June, and reaching a high last month, land sales took a dive in October, accounting for only 14% of all sales. We should expect land sales in November to continue to be slow, as potential buyers purchasing now would not be able to break ground until next Spring.
Search ALL Teton County Listings: Single Family Homes, Condos, Vacant Land, Multi-family, Farm/Ranch, Commercial and Leases
- Quick Search or Advanced Search capabilities
- Customizable Map Search
- Search by MLS #, if you have a specific property in mind
- Create your own saved searches
Save your favorite Jackson Hole Real Estate properties or create customized search criteria for personalized direct access.
Set up your account now.