Real Estate Transactions sky rocket in May in Jackson Hole

The Colbert Real Estate Report

Monthly Market Update for June 2015

Jackson Hole, WY

Summary – May 2015:

57 :: Total residential sale transactions (a huge jump from the last few months)
$54,000,000 :: Total residential sales volume reported to MLS (up significantly from last month)
$976,000:: Average sales price of reported sales (another dip)
96% :: Ratio of sales price to list price (down slightly from last month)
204 :: Average days on market prior to selling (down again from last month)

What it means: Transaction levels sky rocketed in May, hitting a high mark not seen since the Fall of 2013, signaling what could be a very busy summer in the Jackson Hole real estate market. Sales Volume also saw a significant increase in May, with $54 million in reported sales, marking the highest volume since October 2014 (see chart below). Adding in 2 sales with unreported sales prices, puts the actual volume in the $66 million range. We should expect to see these numbers continue to increase as we enter the busy summer selling season. As a point of reference, last September we saw sales volumes in excess of $90 million. We should also expect to see new listings continue to hit the market (See “What’s New?” section). The average sales price in May dropped again thanks to several sales in the sub-$500,000 market including 9 condo sales under $400,000. The sales price to list price ratio remained high at 96% as demand continues to out pace supply. The average days a property sits on the market before closing also continued to decrease, another illustration of the current “seller’s market” existing in the Jackson Hole Real Estate market.