Sale Transactions & Dollar Volume down at start of New Year

The Colbert Real Estate Report

Monthly Market Update for February 2016

Jackson Hole, WY

Summary – Jan 2016:

  • 21 :: Total residential sale transactions (lowest in past year)
  • $32,690,000 :: Total residential sales volume (down again from last month)
  • $1,560,000::  Average sales price of reported and unreported sales (down from last month)
  • 95% ::  Ratio of sales price to list price (same as last month)
  • 225 ::  Average days on market prior to selling (up slightly from last month)

What it means:  Real estate sale transactions continued to decline in January, reaching a low not seen in the past several years! Sales volume also decreased again, representing the 3rd lowest levels seen in the past year. While January is typically a slow month for sales (Jan 2015 had only 22 sales), some evidence suggests that these sluggish levels of activity may stick around.  The average sales price dipped to $1.5 million in January, after 3 of the last 4 months saw average prices up near $2 million mark. The ratio of sale price to listing price remained at 95% for the second month in a row suggesting that recently buyers are purchasing property at slightly more of a discount (on average). In January, only 2 properties sold within 1% of the listing price (compare that to December, where 35% of all sales sold at, near, or above the listing price). Properties that sold in January were on the market for an average of 225 days. In particular, there were 7 properties that sold after 6 months on the market and 4 that sold after being on the market for over a year. This could be a result of not much new inventory hitting the market, forcing buyers to focus on the existing, older inventory. There were several high-end sales in January, in which the sales prices were not disclosed to the MLS including a 10 acre estate perched above the Town of Kelly (listed for $7.5 million), a 6,000 sq foot house in Crescent H (listed for $7.9 million and pictured below) and a 6 bedroom home at the base of Jackson Hole Mountain Resort.





6,000 sq foot home in Crescent H sold in January (listed by JHREA)


Click HERE to read the full Monthly Market Update for February 2016.


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