for sale in jackson hole Archives - Page 2 of 7

2020: Q3 Sales & New Listings

If you’ve been following the Jackson Hole real estate market at all this summer then it will come in no surprise to hear that we’ve had one of the most explosive third quarters in market history. All market statistics were up in Q3 2020, many significantly so. The 3rd quarter of 2020 (July-Aug-Sept) recorded nearly 100 more sales than Q3 last year, which was considered a strong quarter/year. Monthly sales exceeded 2019 in every month, nearly doubling last year’s numbers in August and September specifically. Even more dramatic, overall sales dollar volume in Q3 2020 dwarfed numbers seen last year, up a staggering $448 million. Monthly sales volume in Q3 2020 was over double that of 2019.

As expected, the average sales price of the third quarter this year increased significantly, up more than $1 million over Q3 2019. The median sales price also increased, up an average of $500,000 over the 3 months of the third quarter, and far outpacing median sales prices in each month. Similar to 2019, the majority of sales in Q3 2020 occurred in the $1-3 million price point, however in 2020 there were 36 more sales in this price point. The largest shift from last year was in the luxury high-end segment ($3+ million) where 48 more sales recorded this year vs Q3 2020, no doubt a contributor to the historic sales volume seen this summer in Jackson Hole. Over half of the sales in the third quarter were for single family homes, an increase from 2019. Interestingly, 2020 saw fewer condo / townhome sales and more land sales as many out-of-town buyers looked to purchase land as existing inventory continued to dwindle.

It’s no doubt that demand for Jackson Hole real estate was up significantly this past summer, but how did things look on the supply/listing side? Overall new listings in Q3 2020 were up only slightly from 2019, mirroring monthly levels seen last year. While reporting a similar number of new listings as last year, the overall dollar volume of these listings increased dramatically, recording $200+ million more in volume in Q3 2020. Much of this increase can be attributed to a very strong September where a similar number of new listings hit the market but accounted for nearly $185 million more in listing volume than in Q3 2019. As a result, the average listing price for the third quarter increased nearly $1 million from this time last year. The average median list price for the quarter was also up, topping $2 million from $1.45 million in Q3 2019. Again, both helped by a very strong September which saw a monthly average list price over $4 million and a median list price of more than $3 million.

In an interesting flip from Q3 2019, the majority of new listings this summer were in the high-end luxury market with nearly 100 listings coming online priced above $3 million (compared to 46 new listings in Q3 2019). We saw significantly fewer new listings in the $1-3 million range while maintaining similar levels for price points under $1 million. As a response to the increased sales of building sites in Q3 2020, we saw an influx of vacant land listings, as many landowners saw this summer as a great opportunity to capture the new demand of out of town buyers frustrated by a lack of existing inventory.

2020: September New Listings in Jackson Hole

October 9, 2020/in Inventory Levels, Jackson Hole Real Estate, Market Report, Market Reports, Market Statistics, Monthly Market Update, New Listings, Real Estate Sales/by Molly Stewart

Despite the hot real estate SALES market, new listings dropped off in September, with only 65 properties hitting the market, effectively replacing only 2/3 of the properties sold in September. This marks only the third time this year where monthly new listings have been LESS than monthly sales, and definitely the most dramatic difference. While September saw 25 fewer sales then August, the listing dollar volume was significantly more, reaching $20 million higher than last month. This resulted in an average listing price in excess of $4.2 million as 33 properties came onto the market priced over $3 million and a staggering 9 new listings in excess of $10 million! The median listing price was also up, nearly doubling from August ($1.6 million) and topping $3 million for the first time since I’ve been recording these statistics.

For the first month in 2020, not a single property entered the market priced under $500,000 and only 13 properties were listed between $500,000 – $1 million, 4 of which are already under contract or sold. While the majority of September’s new listings were for single-family homes, there was a significant number (23) of vacant lots coming onto the market, matching the recent uptick in demand for land as existing inventory continues to dwindle.

New Listing :: In Town Condo with Prime Location

September 23, 2020/in Buyers, Featured Listing, Featured Listings, Housing, Jackson Hole Real Estate, New Listings, Over $1 million, Property Search, Snow King, Town of Jackson, WY/by Molly Stewart

This spacious 2 bedroom plus large loft condominium is ideally located on Aspen Drive with proximity to hiking and biking at Snow King Mountain, shopping and restaurants of downtown Jackson and the bus stop to Teton Village for skiing. The best floor plan in the development, this top floor unit features vaulted ceilings in the living room and master bedroom as well as a 200 sq ft loft perfect for an office or guest sleeping quarters. Updated over the last handful of years with refinished hardwood floors, and paint throughout as well as a new water heater, bathroom vanity, dishwasher, and washing machine. In addition to the 1,112 square feet, owners can take advantage of a wood stove hook up, a spacious outdoor storage closet, and 2 dedicated off street parking spaces.

2020: August New Listings in Jackson Hole

September 10, 2020/in Inventory Levels, Jackson Hole Real Estate, Market Report, Market Reports, Market Statistics, Monthly Market Update, New Listings, Real Estate Sales/by Molly Stewart

Inventory continued entering the market at a steady pace with 90 new listings coming online in August 2020. While down slightly from July (97 new listings) and June (100 new listings), a total of 297 new properties have entered the market this summer, exceeding the 288 new listings of the summer of 2019. Any fears about the global pandemic affecting real estate inventory in Jackson Hole seem to have been extinguished. Total volume of August listings topped $257 million, with an average list price of $2.85 million. After fluctuating for several months, the median list price settled in on $1.6 million in August, slightly below the average of $1.8 million during the previous 6 months. The slight majority of new listings were priced between $1-3 million, however 29 new properties entered the market in excess of $3 million in August. Four new homes were listed over $10 million, including a build-to-suit opportunity in Teton Village, a contemporary home in Spring Creek Ranch, and the 14 acre Piton Ranch near Teton Village, listed for $16.5 million and already under contract. Exactly half of August new listings were for single family homes however lot listings continued to flow into the market. Including August’s 15 new vacant land offerings (with an average listing price of $1.9 million), there have been 72 building sites newly available for sale since May 2020.

New Listing :: Downtown Townhome with Snow King Views

August 28, 2020/in Buyers, Featured Listing, Featured Listings, Housing, Jackson Hole Real Estate, New Listings, Over $1 million, Property Search, Snow King, Town of Jackson, WY/by Molly Stewart

Ideally located in the heart of downtown Jackson, this townhouse is the epitome of the Jackson Hole lifestyle. Conveniently located just blocks from the historic downtown, Center for the Arts and endless outdoor amenities of Snow King Mountain, you can be in the center of the action! This 4 bed, 3.5 bath townhome encompasses more than 2,000 sq ft on 3 levels with 2 separate living rooms, one with a wood burning fireplace. Enjoy morning sun and Snow King views from the east facing bedroom windows and afternoon sun on the west facing private deck. Tastefully updated with white oak hardwood floors, all new lighting, updated bathrooms with quartzite counters and tile showers, and new KitchenAid stainless steel appliances (including a gas range) and quartzite counters in the kitchen.

2020: July New Listings in Jackson Hole

August 10, 2020/in Inventory Levels, Jackson Hole Real Estate, Market Report, Market Reports, Market Statistics, Monthly Market Update, New Listings, Real Estate Sales/by Molly Stewart

The rate of new inventory entering the market remained strong in July with nearly 100 new listings coming online. Down from June’s high of 110, more properties hit the market this July than in July of 2019 (91 new listings). The total listing volume topped $300 million for only the second time since last July 2019 ($320 million). The average listing price remained above $3 million for the second month in a row, and the 4th time in 2020. The median list price dropped in July, down to just under $1.8 million from $2.175 million in June. Despite the declining median list price, the majority of new listings in July we’re in the $3+ million segment, the first time we’ve ever seen the majority of a month’s new listings in this price point. A staggering 35 new listings hit the market in excess of $3 million with 4 listings over $10 million, including homes in 3 Creek Ranch and up at the Amangani, and a slope side private residence at the Four Seasons. Nearly 30 properties hit the market in both the $500 – $1 million “locals market” and the $1-3 million segment. Over half of the new listings in July were for single-family homes, a section of the market that has seen healthy sale activity over the past few months. Nearly 60 new lot listings have entered the market since May, more than in the previous 9 months combined.

New Listing :: Love Ridge Condominium

August 7, 2020/in Buyers, Featured Listing, Featured Listings, Housing, Jackson Hole Real Estate, New Listings, Over $1 million, Property Search, Snow King, Town of Jackson, WY/by Molly Stewart

You will love the convenient location of this Love Ridge Condominium! You are just minutes from the excitement of Jackson’s downtown and the outdoor pursuits of Snow King Mountain including skiing, hiking, mountain biking and horseback riding. The southeast orientation allows for a sun filled home as you are welcomed into the living space. Enjoy northeast views over the Elk Refuge from the second floor balcony. These spacious 3 bedroom condominiums have the option for 1 & 2 bed lock off arrangements, which can maximize rental income and add flexibility for owners. Each unit comes with a sizable storage unit as well as 2 parking spots in the underground garage. Sold fully furnished and turnkey for the new owner.

2020: Q2 Sales & New Listings

July 15, 2020/in Asking Prices, Average Sales Price, Inventory Levels, Jackson Hole Real Estate, Jackson Hole Report, Land/Building Sites, Listing Prices, Luxury Property, Market Report, Market Reports, Market Statistics, Monthly Market Update, Multi-family, Over $1 million, Past Sales, Properties under $500, Real Estate Sales, Sale to List Price Ratio, Sales Volume, Sellers, Single family homes, The Jackson Hole Report, Town of Jackson, Townhome, Under $500, WY/by Molly Stewart

The Jackson Hole real estate market saw 63 sales in the second quarter of 2020, a far cry from the 110 sales in the second quarter of 2019. While 2019 was a strong year all around, this decline of 43% is significant. Every month of the second quarter showed notably fewer sales with the largest gap happening in May, when 2020 sales were less than half of sales in May 2019. This decline suggests that the pandemic played a role (at least initially) in buyer’s collective willingness to make real estate purchases in Jackson Hole. That being said, it appears the gap may be closing, with only 10 fewer sales in June vs 2019, perhaps an early indication of increasing interest/sales as we move through the summer with the influx of out of town visitors and buyers. Despite 42% fewer sales, dollar volume was nearly identical ($145 million in Q2 2020 vs $148 million in Q2 2019). As a result, the average sale price jumped nearly $1 million from the second quarter last year to Q2 this year, outpacing 2019 in every month (twice as high in the month of May!). The median sales price followed a similar trend, exceeding 2019 median sales prices by roughly 40% in every month of the second quarter.

In looking at the breakdown by price point, the $500,000 to $1 million segment saw 20 fewer sales in Q2 2020, while only 4 sales occurred under $500,000 (vs. 28 sales in Q2 2019). On the other end of the spectrum, the luxury end remained strong with an identical number of sales over $3 million (despite overall sales being down). More than 3 out of every 4 sales in the second quarter of 2020 was for a single family home vs. 35% in Q2 2019, no doubt a contributing factor to the higher prices/values.

The number of new listings was down roughly 17% in the second quarter of 2020 with just over 200 properties hitting the market in April/May/June. Compare that to the second quarter of last year when 246 new properties entered the market. New listings in 2020 lagged 2019 in April and May, no doubt a result of sellers’ hesitation in the first few months of the COVID pandemic. Only in June of 2020 did new listings exceed 2019 with 6 more properties entering the market.

The dollar volume of new listings in Q2 2020 also declined, down 17% from Q2 2019. After seeing a similar listing dollar volume in April, both May and June under performed levels seen in 2019. The monthly average listing price fluctuated in 2020, from $3.3 million in April dropping to $2.3 million in May and jumping back up in June. The median list price followed a similar trend, but exceeded 2019 median list prices in every month of the second quarter, illustrating an overall increase in listing prices. The majority (46%) of new listings in Q2 2020 were in the $1-3 million range. Despite fewer listings, the luxury segment saw a similar number of new listings priced over $3 million (53 vs 56), while the entry level (under $500,000) dropped 50% from 16 to 8 new listings.

2020: June New Listings in Jackson Hole

July 13, 2020/in Inventory Levels, Jackson Hole Real Estate, Market Report, Market Reports, Market Statistics, Monthly Market Update, New Listings, Real Estate Sales/by Molly Stewart

New listings exploded in June, exceeding the highs seen during last year’s busy summer listing season. It’s the first time we’ve seen this many new monthly listings in over 4 years! The total list volume of $366 million was the highest since last June 2019, which saw a record volume of $439 million. While the average listing price was down vs last June, the median list price was up, topping $2 million for only the second time since I began tracking this stat in April 2017. Three out of every 4 new listings in June was above $1 million. A staggering 36 new homes entered the market above $3 million, beating out last June’s high of 30 properties in this price point. High end new listings in June included a 65 acre property with a 4,700 sq ft home in Dairy Ranches for $18.9 million, a 6,700 sq ft home in Indian Springs for $13.9 million and a 120 acre ranch with live water and panoramic mountain views, listed for just under $16 million. Only 5 properties entered the market under $500,000 in June, including 3 condos in town, all of which are already under contract. Over half of June’s new listings were for single family homes. After seeing 0 lot listings in April, vacant land has been entering the market at a fast pace with 20 new listings in May and 18 in June.

2020: May New Listings in Jackson Hole

June 8, 2020/in Inventory Levels, Jackson Hole Real Estate, Market Report, Market Reports, Market Statistics, Monthly Market Update, New Listings, Real Estate Sales/by Molly Stewart

While the COVID-19 pandemic no doubt kept new listings quiet in April, it appeared many sellers were feeling more confident in May, collectively putting 76 new properties on the market in Jackson Hole. These new listings represent 75% of the new listings seen in May of 2019, a strong number considering our current economic environment. Overall listing volume was $175 million in May, the highest monthly volume since August 2019. The average listing price of $2.3 million was down from April’s high of $3.3 million, but in line with the average listing price seen last year in May ($2.22 million). The median listing price dropped significantly, down $800,000 from April to $1.56 million in May, which is slightly below the average median list price seen throughout the last year. Why did the average and median price listing price drop in May? While the majority (39) of new listings were priced between $1-3 million, 26 new listings came on line under $1 million (2 of those under $500,000), the highest monthly inventory seen in this price range since Aug 2019.

Twenty condo / townhomes were listed in May, with 15 of those priced under $1 million, a great selection for local buyers and second homeowners looking for a Jackson Hole getaway. Surprisingly, 20 vacant lots were listed in May, the highest number of monthly lot listings in the past year. Thirteen of the 20 new lots were listed over $1 million, including a large 21 acre redevelopment parcel on the Westbank, currently home to the Bar J Chuckwagon, listed for $14 million. The least expensive new lot listing is a .32 acre lot on Snow King Ct with stunning Teton views over the Elk Refuge.

Tag Archive for: for sale in jackson hole

Transactions/Sales Volume – What Sold?

$2,940,989

Average Sales Price

$735,247,347

Total Sales Volume

Market Analysis

New Listings – What’s New?

$3,410,444

AvERAGE LIST PRICE

$836,169,000

LIST PRICE Volume

Market Analysis

Note: All statistics are pulled from Teton Board of Realtors Multiple Listing Service for residential sales/listings in Teton County, WY for the dates specified above. It is estimated that sales outside of MLS account for an additional 10-20% of transactions/volume. Contact Katie for more details.

What happened in September?

New Listings

$276,805,500

New Listing Volume

23

Vacant Lot Listings

$4,258,546

Average List Price

$3,075,000

MEDIAN LIST PRICE

0

listings under $500,000

33

Listings over $3M

Note: All statistics are pulled from Teton Board of Realtors Multiple Listing Service for residential sales/listings in Teton County, WY for the dates specified above. It is estimated that sales outside of MLS account for an additional 10-20% of transactions/volume. Contact Katie for more details.

Property Details

265 ASPEN DR #8, JACKSON, WYOMING

What happened in August?

New Listings

$257,102,000

New Listing Volume

15

Vacant Lot Listings

$2,856,689

Average List Price

$1,605,000

MEDIAN LIST PRICE

8

listings under $500,000

29

Listings over $3M

Note: All statistics are pulled from Teton Board of Realtors Multiple Listing Service for residential sales/listings in Teton County, WY for the dates specified above. It is estimated that sales outside of MLS account for an additional 10-20% of transactions/volume. Contact Katie for more details.

Property Details

517 S CACHE ST, JACKSON, WYOMING

What happened in July?

New Listings

$302,261,500

New Listing Volume

19

Vacant Lot Listings

$3,116,098

Average List Price

$1,795,000

MEDIAN LIST PRICE

5

listings under $500,000

35

Listings over $3M

Note: All statistics are pulled from Teton Board of Realtors Multiple Listing Service for residential sales/listings in Teton County, WY for the dates specified above. It is estimated that sales outside of MLS account for an additional 10-20% of transactions/volume. Contact Katie for more details.

Property Details

531 SNOW KING LOOP #3140 JACKSON, WYOMING

Transactions/Sales Volume – What Sold?

$2,303,461

Average Sales Price

$145,118,024

Total Sales Volume

Market Analysis

New Listings – What’s New?

$2,996,894

AvERAGE LIST PRICE

$605,785,000

LIST PRICE Volume

Market Analysis

Note: All statistics are pulled from Teton Board of Realtors Multiple Listing Service for residential sales/listings in Teton County, WY for the dates specified above. It is estimated that sales outside of MLS account for an additional 10-20% of transactions/volume. Contact Katie for more details.

What happened in June?

New Listings