Sales to List Price increases to 97% for April real estate sales in jackson Hole

The Colbert Real Estate Report

Monthly Market Update for May 2015

Jackson Hole, WY

Summary – Apr 2015:

34 :: Total residential sale transactions (similar to the last 3 months)
$34,000,000 :: Total residential sales volume reported to MLS (down from last month)
$1,135,000:: Average sales price of reported sales (a drop after two high months)
97% :: Ratio of sales price to list price (up again from last month, highest in almost a year)
215 :: Average days on market prior to selling (down from last month)

What it means: Transaction levels remained consistent in April, hovering around 35 sales. We should expect the increase in new listings (See “What’s New?“) to increase sale transactions in the coming months. Reported sales volume in April took a slight dip from previous months, however adding in the estimated sales volume from 4 high end, unreported sales resulted in a slight increase in overall sales volume in April (see chart below). The average sales price in April dropped after 5 straight months of increases. This can be explained by several entry level condo and townhome sales this past month (7 sales under $500,000). For the first time in almost a year, the sales price to list price ratio hit a high of 97%, as many properties are selling very close to list price.