Monthly Market Update for September 2013

Jackson Hole, WY

Summary – August 2013:

• 61 :: Total residential sale transactions (a large increase from last month (45), matching May’s high of 61)
• $79,500,000 :: Total residential sales volume (also a large increase from last month ($47m), the highest monthly volume of 2013)
• $1,258,000::  Average sales price (nearly double of last month’s $734,579)
• 95% ::  Ratio of sales price to list price (down slightly from last month’s 96%)
• 332 ::  Average days on market prior to selling (up significantly from the last month)

What it means: August real estate sale statistics suggest Jackson Hole ended summer with a bang! Both residential sales transactions and total sales volumes were the highest of 2013. Several high end sales, including the auction of the Grand Teton Estate (which sold for $19.25m), helped push the monthly average sales price up to $1.258 million, nearly double of last month. Sales price to list price ratio dipped slightly to 95%; meaning on average, buyers are purchasing homes for only 5% less than the latest listing price. The average days on the market jumped up to 332 days, meaning the homes that sold in August were on the market an average of 11 months before selling.

Interestingly this month, 21 of the 61 sales (or 1/3 of all sales) were on the market for OVER a year prior to finally selling in August. Eight properties sold this past month after being on the market for OVER two years. (See Chart below.) This suggests that in an overall Jackson Real Estate Market that currently has limited options, some of the older inventory is finally selling.

Please visit the Monthly Market Update tab for the entire September Market Report.

Interested in learning more? Email me at katiecolbert123@gmail.com for more information on anything real estate related – a history of a specific property, a market update on your neighborhood, a mortgage payment calculation for a certain price range – I’m happy to help! You can also click on Learn More to sign up to receive new listings in your desired area or to receive the market updates by email.

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