Tag Archive for: homes under $500k in Jackson hole

Entry level sales remain low, only 7 so far in 2017!

The Colbert Real Estate Report

Monthly Market Update for April 2017

Jackson Hole, WY

What Sold in Mar 2017?

  • 52% :: Percentage of residential properties selling for over $1 million (highest in past 12 months)
  • 48% :: Percentage of residential properties selling for under $1 million 
  • 12% :: Percentage of residential properties selling for under $500,000 (low, same as last month)
  • 56% :: Percentage of single family home sales (up after low last month)
  • 16% :: Percentage of condo/townhome sales (lowest in over a year)
  • 28% :: Percentage of Land Sales (high for second month)

What it means:  Property sales under $500,000 remained low, recording only 3 sales for the second month in a row. So far in 2017, only 7 properties have sold in this price range! Entry level sales in March included two small lots in Rafter J and south of town, and a 2 bedroom condo in the Town of Jackson. Sales in the $500,000 – $1,000,000 range (usually a hot spot for larger condos and small homes) were also down, with only 3 single family homes selling under $1 million in March – all located in the Cottonwood Park neighborhood. Property sales over $1 million increased 12% from February, accounting for over half of all sales in Teton County in March. This is the first time we’ve seen this statistic exceed the 50% mark since last March 2016.  Single family home sales increased in March, accounting for 56% of all sales (an uptick after a low last month). Several older homes located north of town (all with over 2 acres of land) sold in the low $1 million price point, while six homes sold between $1.5M – $4.5M, including 3 homes on the west bank of the Snake River. On the other hand, condo sales dropped significantly as only 4 condos sold in March, including a 3 bed / 3 bath unit in The Aspens (backing up to open space), which sold for an astonishing $1.35M! Given that general inventory remains low, it’s no surprise to see buyers continue to flock to vacant land. Land sales accounted for nearly 30% of all sales for the second month in a row and included sales in the Gill Addition, Teton Village, Moulton Ranches and Squaw Creek. 



What Is Your Home Worth?

Curious about the value of your home? Complete the Home Valuation Request form to receive an estimate of the market value of your home. 

 placeit (3)

Featured Listings

Browse Katie’s “Top Picks” for current values in the Jackson Hole real estate market. Updated with new listings weekly. Browse now.