The Colbert Real Estate Report

Monthly Market Update for November 2014

Jackson Hole, WY

Summary – Oct 2014:

• 56 :: Total residential sale transactions (up slightly from last month’s 50)
• $73,700,000 :: Total residential sales volume reported to MLS (down from last month’s high of $90m)
• $1,390,000::  Average sales price of reported sales (down from last month’s high of $2m)
• 95% ::  Ratio of sales price to list price (up slightly from last month’s 94%)
• 206* ::  Average days on market prior to selling (up slightly from last month’s 193)

What it means: After September’s unusually high sales volume ($90 million) and transaction level (50), October remained strong with 56 residential sale transactions accounting for over $73 million in reported sales volume. There were also 3 unreported sales in October, accounting for an estimated $17 million in additional sales volume, bringing the total sales volume to $90 million, which is in line with last month’s unusually high volume (see charts below). After an average sales price of more than double the typical average in September, last month’s average remained higher than usual at $1.39 million (typical average is right around $ 1 million). There were again several high end real estate sales that helped keep the average sales price and sales volume higher than usual (see the “What Sold” section below). In October, the sale price to list price ratio increased to 95% after an usually low percentage (94%) in September. *After removing 2 outlier properties that were on the market for more than 1,000 days, the average days on market were similar to last month and again low on average, as inventory levels remain very low.

 

Click HERE to read the full Monthly Market Update for November. 

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