Tag Archive for: jackson wy real estate stats

2020: January Sales in Jackson Hole

What happened in January?

What Sold

The New Year started out strong with 41 real estate sales in January 2020, an increase of 20% from December 2019. Those 41 sales translated to $90 million in sales volume, the highest monthly volume in the past 3 months. As a result, the average sale price for January 2020 reached $2.2 million, breaking $2 million for the first time since August 2019. The median sale price dropped $130,000 to $1.27 million in January with 34% of all sales occurring under $1 million and another 12 sales occurring between $1,000,000 – $1,300,000. Days on market increased slightly in January, with the average property selling in 191 days, however high demand and well priced listings are selling much more quickly. The sale to list price ratio remained at 95% for the third month in a row, with 7 of the 41 sales occurring at or above the listing price including a stand-alone townhome on East Hall, that received five offers in the first few days of listing, quickly selling for full price of $1,095,000 . The majority (41%) of the sales in January were single family homes, while townhomes accounted for 37% of all sales. Interestingly, there were 9 lot sales in January representing nearly 1 in every 4 sales last month, quite the increase considering that vacant land accounted for an average of 14% of all sales over the last 8 months. Nearly half (44%) of all sales occurred in the $1-3 million range, perhaps signalling a trend after representing 50% of all sales in Dec 2019. The high end segment started the New Year strong with 9 sales over $3 million in January, including several homes around Teton Village in Shooting Star, Granite Ridge, and Lake Creek Ranch.

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$89,912,254

Total Sales Volume

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191

Average Days on Market

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$1,270,000

MEDIAN SALES PRICE

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

41%

Single Family Home Sales

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

66%

of property sales over $1M

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

4

TRANSACTION UNDER $500,000

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[siteorigin_widget class=”SiteOrigin_Widget_Cta_Widget”][/siteorigin_widget]
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.

2019: November Sales in Jackson Hole

What happened in November?

What Sold

Real Estate sales dropped 31% from October recording only 40 sales in November. While down from the past few months, November’s sales were in line with levels seen in May/June 2019. Overall sales volume was also down in November, falling short of $80 million and dropping below $100 million for the first time in 4 months. The average sale price inched up to just under $2 million, however the median sales price has stayed steady around $1.1 million for the third month in a row. While properties are selling at a similar amount of time (150+/- days in 3 of the last 4 months), they were selling at more of a discount to list price in November. Last month, properties sold on average at 95% of their listing price with only 3 properties selling at or above list price. Note that in October, 15 properties sold at or above list price (representing 25% of all sales). Townhome and condo sales increased significantly, representing nearly 50% of all sales in November – a strong showing considering this segment represented 36%-39% of all sales over the past few months. Usually accounting for 43-52% of sales, transactions in the $1-3 million range dropped significantly in November with only 11 transactions representing 28% of all sales. The majority (40%) of November sales were in the $500,000 – $1,000,000 price point. On the other end of the spectrum, property sales in the high-end saw an uptick with 10 sales over $3 million, accounting for 1 out of every 4 sales in November.

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$79,639,304

Total Sales Volume

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153

Average Days on Market

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$1,100,000

MEDIAN SALES PRICE

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

40%

Single Family Sales

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

53%

of property sales over $1M

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3

TRANSACTION UNDER $500,000

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[siteorigin_widget class=”SiteOrigin_Widget_Cta_Widget”][/siteorigin_widget]
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.

2019: October Sales in Jackson Hole

What happened in October?

What Sold

The Jackson Hole real estate market does not appear to be slowing down one bit as October sales (58) kept pace with a busy end of summer. Total sales volume topped $100 million for the third month in a row! – An unprecedented stretch not seen in our recent market (since I began tallying stats in 2013 anyway). The average sales price of $1.87 million was a slight increase from September but was still below the high of $2.022 million from August 2019. Median sales price remained steady at just above $1.1 million. The average days on market increased after a low of 111 days in September, however properties were still selling at 96% of list price on average. In particular, 15 properties (25% of all sales) sold AT or ABOVE their listing price in October. Single family homes represented an even 50% of all October sales, while land purchases showed no signs of slowing, accounting for 14% of all sales for the second month in a row. Properties selling under $500,000 increased in October thanks to several sales of the last remaining Virginian Village condos in the Town of Jackson. The majority (43%) of all sales occurred in the $1-3 million price point for the third month in a row. The high-end segment of the market remained strong with 8 more sales over $3 million, accounting for a solid 14% of sales seen in October.

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$108,812,139

Total Sales Volume

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152

Average Days on Market

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$1,157,500

MEDIAN SALES PRICE

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50%

Single Family Sales

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57%

of property sales over $1M

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7

TRANSACTION UNDER $500,000

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[siteorigin_widget class=”SiteOrigin_Widget_Cta_Widget”][/siteorigin_widget]
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.

2019: September Sales in Jackson Hole

What happened in September?

What Sold

Contrary to what some national forecasts are predicting, the Jackson Hole real estate market is not slowing down! Real estate sales increased again, recording 57 sales in September, the highest monthly total since August 2018. Dollar volume topped $100 million for the second month in a row, crossing that threshold for only the second time in 2019. The average sales price dropped to just under $1.8 million while the median sale price also dropped down to $1.1 million after spiking at $1.326 million in August. While it appears properties were selling for a little bit less in September, they were selling very quickly. The average days on market was the lowest monthly average (111 days) since I began tracking this statistic 6 years ago. Properties may be selling faster as sellers motivation increases as we approach winter and year-end. On average, properties sold at a 5% discount to listing price, with only 9 properties selling at or above their listing price in September. After spiking in August, single-family home sales represented just under half of all sales in September. Townhome and condo sales increased last month representing nearly 40% of all sales. Land sales remained steady with 8 lot sales occurring in September. The majority of sales last month happened in the $1-3 million price point. However, September also saw 22 sales in the $500,000$1,000,000 range (the local’s market”), accounting for nearly 40% all sales. The high and low end remained consistent in September representing 5% and 11% of all sales respectively.

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$102,172,388

Total Sales Volume

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111

Average Days on Market

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$1,100,000

MEDIAN SALES PRICE

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39%

Condo/Townhome Sales

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44%

of property sales under $1M

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3

TRANSACTION UNDER $500,000

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[siteorigin_widget class=”SiteOrigin_Widget_Cta_Widget”][/siteorigin_widget]
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.

2019: August Sales in Jackson Hole

What happened in August?

What Sold

Real Estate Sales were up in August in Jackson Hole, reaching 50 sales and recording the highest monthly total of the year. Overall Sales Volume was also up this past month, topping $100 million for the first time in 2019. Thanks to 7 high-end sales over $3 million in August (including a 13 acre private estate in Wilson- selling for just under $18 million), the average sale price surpassed $2 million for the first time in the past 6 months. The median sale price was also up, reaching $1,326,000 and illustrating that August prices were up across the board, not just in the high-end. Case in point, over half of August sales were in the $1-3 million range, a price point usually accounting for 20-35% of monthly sales. Only 3 sales occurred under $500,000, the lowest monthly level seen in 2019, representing only 6% of total sales. Single family homes dominated the sale sheet in August, representing 60% of all sales while the number of townhome sales dipped, accounting for less than a quarter of August sales. The average days on market increased slightly in August while the sale to list price ratio dropped back down to 96%, illustrating that properties selling in August sat on the market a little longer and sold for a little less that previous months, perhaps signalling a slowing of the fast paced appreciation seen in the early summer months.

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$101,121,575

Total Sales Volume

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150

Average Days on Market

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$1,326,250

MEDIAN SALES PRICE

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60%

Single Family Home Sales

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66%

of property sales over $1M

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3

TRANSACTION UNDER $500,000

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_Cta_Widget”][/siteorigin_widget]
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.

2019: July Sales in Jackson Hole

What happened in July?

What Sold

Real Estate Sales jumped in July with nearly 50 transactions occurring, the highest monthly total since October 2018. While more properties sold in July, they were also selling for higher prices, as total dollar volume jumped up to $84 million – the highest monthly dollar volume seen in all of 2019. As a result, the average sales price increased to over $1.7 million in July, after two months hovering right around $1.4 million. After spending the last three months below the $900,000 mark, the median sales price crept up to just over $1 million in July, indicating that prices were up across the board not just in the high-end. The average days on market drop significantly to 129 (after 2 months right below 180 days). Not only were homes selling more quickly in July, they were also selling closer to listing price. The sale to list price ratio reached 97% (the first time this year) as a whopping 18 properties sold at or above their list price!  Townhome and condo sales were hot in the hottest month of the year, representing nearly 50% of all sales and including 3 Ponderosa Village condos and several townhomes in West Jackson. As a result the $500,000 to $1 million price point saw a bump, accounting for 37% of all sales. However, the luxury market was still well represented with 8 sales over $3 million including 2 newly built Caddis homes in the Snake River Sporting Club.

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$84,472,775

Total Sales Volume

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129

Average Days on Market

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$1,022,500

MEDIAN SALES PRICE

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

49%

Townhome/Condo Sales

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

49%

of property sales under $1,000,000

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

8

TRANSACTION OVER $3M

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_Cta_Widget”][/siteorigin_widget]
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.

2019: June Sales in Jackson Hole

What happened in June?

What Sold

Real estate sales in Jackson Hole actually dipped in June, down to 36 transactions (after 41 sales occurred in May). Sales volume also dropped, totaling roughly $50 million in June (down from $59 million in May). Otherwise, the start of the busy summer selling season (May and June) were quite similar, with an average sales price hovering right around $1.4 million and a median sales price just under $900,000. The average days on market and sale price ratio were also identical between May and June, with properties selling, on average, at 96% of their listing price in just under 180 days. However, what made June unique was that nearly 1/3 of the closed sales occurred at or ABOVE their listing price, illustrating the continued competitiveness of the Jackson market. While the majority of sales in June occurred in the $1-3 million range, there were 10 sales under $500,000, including five condos in the Virginian Village and Ponderosa Village developments, seemingly a hot segment right now with many of these condos selling at or above the listing prices. Two-thirds of all sales in June were for single family homes, an increase from a trend seen over the last few months.
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$50,963,867

Total Sales Volume

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179

Average Days on Market

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$869,500

MEDIAN SALES PRICE

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

56%

Single Family Home Sales

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

53%

of property sales under $1,000,000

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

5

TRANSACTION OVER $3M

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]
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.

2019: May Sales in Jackson Hole

What happened in May?

What Sold

Sale transactions increased in May, recording 41 transactions, the highest monthly level so far in 2019. Dollar volume increased from April but was in line with previous months this year, suggesting that while more sales occurred in May, they were at lower price points. In fact, two thirds of May sales were under $1 million, with nearly 20 sales in the $500,000-$1,000,000 price point (commonly referred to as the “local’s market”). While a few high sales pulled the average sales price up towards $1.5 million, the median sales price remained under $1 million for the second month in a row. The majority of May sales were for condos/townhomes, including several in the newly remodeled Virginian Village complex in town. The average days on market increased in May, in part thanks to 4 vacant lots that finally sold after 1-2 years on the market. The sale price to list price ratio held strong at 96% as many properties sold close to their listing prices. There were 9 sales that occurred at or above full listing price, illustrating high demand and tough competition for desirable properties that are priced in line with the market.

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$59,646,869

Total Sales Volume

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

176

Average Days on Market

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

$839,000

MEDIAN SALES PRICE

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

61%

Townhome/Condo Sales

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

66%

of property sales under $1,000,000

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

6

TRANSACTION OVER $3M

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_Cta_Widget”][/siteorigin_widget]
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.

2019: April Sales in Jackson Hole

What happened in April?

What Sold

Real estate transactions increased slightly from last month (30 sales) and are tracking slightly higher than this same time last year (29 sales in Apr 2018). However, overall sales volume in Jackson Hole dropped significantly, down $20 million from last month, recording the lowest monthly volume since March 2018. As a result, the average monthly sales price ($1,143,000) also reached its lowest level in the last year. Likewise, the median monthly sales price was the lowest seen since June 2017 and only the 3rd time in the past year it has dipped below $1 million. The average days on market dropped 120 days, as half of all properties sold in April were on the market less than 3 months before closing.  Properties sold, on average, at 96% of list price in April, despite the fact that only 5 of the 33 properties sold at or above listing price, illustrating the strong buyer demand across the market. As suggested by the low sales volume and low average sales price, a large majority (69%) of the property sales occurred under $1 million in April, including 6 sales of remodeled Virginian Village condos in Town, selling between $303,000 – $417,000. After a yearlong stretch with at least 5 high-end ($3M+) property sales per month, only one sale occurred in this segment in April (a 4,500 sq ft home in 3 Creek Ranch, listed for $3.7 million.) While usually representing over half of all monthly sales, single family home sales slowed in April, with only 7 transactions (21% of all sales). On the other hand, 10 land sales occurred in April, the highest monthly tally since Nov 2017. These lot sales represented every corner of the Valley including Bar B Bar, Solitude and JH Golf & Tennis up north, lots in Town, the Westbank and 3 Creek Ranch and 3 contiguous lot sales in Riverview Ranch, a newly platted subdivision south of Wilson.

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[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

$37,730,289

Total Sales Volume

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

120

Average Days on Market

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

$785,000

MEDIAN SALES PRICE

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

48%

Townhome/Condo Sales

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

30%

of property sales under $500,000

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

1

TRANSACTION OVER $3M

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_Cta_Widget”][/siteorigin_widget]
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.

2019 Q1: Sales in Jackson Hole

Transactions/Sales Volume – What Sold?

$2,096,616

Average Sales Price

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$199,178,515

Total Sales Volume

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[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

Market Analysis

Overall real estate sales were down slightly in Q1 2019, recording 6 fewer sales than Q1 2018. While January and March 2019 saw a high level of sale activity, an unusually slow February, when only 26 properties sold, pulled down the total transactions for the quarter. Despite slightly fewer sales this year, overall dollar volume actually increased 50% from Q1 2018, jumping from $132 million last year to nearly $200 million this quarter.

You’ll recall that 2018 was an explosive year in the Jackson Hole Real Estate market. Well, it seems that the trend has continued into the start of 2019. The average sales price in Q1 2019 was up a staggering 60% compared to this time last year, strongly outpacing average sale prices in each month of the first quarter. Sometimes high-end sales can skew average sales prices, however the median sales price for Q1 2019 was also up significantly each month so far this year, in some cases double the average median sales prices seen in the first several months of 2018.

In analyzing transactions by price point, the “hot spot” of the first quarter was homes in the $1-3M price range, accounting for 40% of all sales. While sales in the $500,000 – $1,000,000 range started out the year strong with 10 sales in January, activity slowed after that, with only 11 sales occurring in the next two months combined.

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[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]
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.