The Colbert Real Estate Report

Monthly Market Update for March 2015

Jackson Hole, WY

Summary – Feb 2015:

• 35 :: Total residential sale transactions (up significantly from Jan’s 22)
• $47,000,000 :: Total residential sales volume reported to MLS (double last month’s $23.6m)
• $1,500,000::  Average sales price of reported sales (up significantly from last month’s $1,124,000)
• 94% ::  Ratio of sales price to list price (slight dip from the last few months)
• 243 ::  Average days on market prior to selling (back up from last month’s 148)

What it means:  After a slow start to 2015 (See Last Month’s Market Report), sales in February picked up the pace. Last month we saw 37 transactions, which was the highest level of transactions in the past 4 months. Sales Volume in Teton County in February reached $47 million in reported sales, also the highest in the last 4 months (see charts below). In February, there was an estimated additional $19 million in unreported sales, including two large land parcels located up north in Bar BC East – a 49 acre parcel listed at $9.5 million and a 35 acre parcel listed at $9 million. Due to several high end sales in February (see “What Sold?” below), the average sales price was pushed up to $1.5 million, the highest average sales price since September 2014 (see chart below). The sales price to list price ratio dipped down to 94%, while days on market increased to 243 days. We are continuing to see well priced properties, in high demand sub-markets, sell very quickly. In February in particular, we saw several lots sell after long exposure time on the market (see “What Sold” below).

Click HERE to read the full Monthly Market Update for March 2015.

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