The rate of new inventory hitting the market has dropped significantly in each of the last 2 months. October new listings were only half of the new listings in September and a third of what they were in August 2019. While the busy listing season may be over, thanks to two very high end listings (see below), the overall list volume in October actually increased 26% from September (which saw 50% more listings). The majority of new inventory in October was in the $1-3 million price range where we’ve been seeing the majority of the sales take place for the past 3 months. Only two properties came on under $500,000 – a Hansen Meadows 1 bedroom condo in Town and a deed restricted two bedroom condo south of town – both of which received immediate interest and went under contract quickly. Meanwhile, 10 new listings in October exceeded $3 million, including two very high-end properties: a 6,500 square foot contemporary house up on Spring Creek Ranch for $15 million and a 3 lot, 20 acre estate south of Wilson, listed for just under $25 million. Of the 34 new listings in October, nearly one-third are already under contract or closed illustrating that high demand still exists in the market for well-priced properties.

The busy summer listing season continued through August with 93 new listings hitting the market last month. Since May, 389 new properties have entered the market. Quite a high number considering there were 494 total sales recorded in MLS in all of 2018. While the number of new listings was similar to July, the dollar volume of August listings was down over $100 million from July and equated to only half of the listing volume seen in June (with 101 new listings). As such the average listing price dropped to $2.345 million from $3.5 million in July, and down from a staggering $4.2 million back in June 2019. The median list price also dropped; down slightly in August to just under $1.6 million from a high of $1.85 million in June. Over half of the new listings in August were between $1-3 million dollars, also the hot spot for sales this past month. Since May, 188 new listings have entered the market in this price range, by far eclipsing the 63 summer sales in the same price point. Luxury new listings are still very active with 15 new homes coming onto the market above $3 million. Since May, nearly 100 properties have come on to the market in this high-end segment – an increase of nearly 20% over luxury listings during the same time in 2018. Inventory under $500,000 continues to shrink as just 4 new listings entered the market in August, making a total of 21 for the entire summer and representing just 5% of all new listings.

The busy summer selling season continues in Jackson Hole with 91 new listings hitting the market in July, bringing the new summer inventory total to nearly 300 over the last 3 months. While paling in comparison to a record-setting June, where 104 new listings hit the market totaling a staggering $439 million, July new listing volume was still strong at $320 million, more volume then we saw in May despite fewer listings. Another way to see this trend is to look at the average and median list prices throughout the past few months. May kicked off the summer selling season with a bang, June was record-setting, and July has leveled off a bit but remained very strong, ahead of May numbers (volume wise). New listings in the luxury segment continue to flood the market with 28 new July listings priced over $3 million, adding to the 52 luxury properties added to the market in May and June. Compare that to the under $500,000 market, where only 17 new listings came on the market during the past 3 months. The $1-3 million segment has seen the most new listings this summer, with 52 new properties hitting the market in July alone, and reaching a total of 140 throughout the past 3 months. This represents roughly half of all new inventory this summer. Twenty of July’s new listings are already under contract as of August 12th, representing 22% of new monthly listings.