Monthly Market Update for December 2013

Jackson Hole, WY

Summary – November 2013:

• 46 :: Total residential sale transactions (down from last month’s 57)
• $61,000,000 :: Total residential sales volume reported to MLS (down slightly)
• $1,387,000::  Average sales price of reported sales (similar to last month)
• 93% ::  Ratio of sales price to list price (down from last month’s 96%)
• 370 ::  Average days on market prior to selling (still higher than usual)

What it means: November sales statistics reflected a slight dip after October’s high numbers in both transactions (46 v. 57) and reported sales volume ($61m v.$68m). This month there were 4 unreported sales which could add another $3m-$3.3m in additional sales volume. Remember, last month there were 7 unreported sales which could have totaled an additional $80-$86 million in additional sales volume! November’s average sales price was similar to October’s (reported) average which is still slightly higher than the typical average of $1 million. On average, properties were selling for 7% less than the current listing price in November, which is the greatest discount we’ve seen since March 2013.

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

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