The Colbert Real Estate Report

Monthly Market Update for April 2017

Jackson Hole, WY

What’s new in March 2017? (New Listing Analysis)

• 46 :: Total New Listings in March
  • New Listing Volume: $75,261,000
  • Average List Price: $1,636,000
• 38 :: New Residential Properties (single family, townhome, condo)
  • Average List Price: $1,769,000
  • New listings priced under $1 million :: 22  (58%)
  • New listings already under contract or sold: 14  (37%)
• 8 :: New Building Sites
  • Average List Price: $1,003,000
  • New listings priced under $1 million :: 5 (63%)
  • New listings already under contract or sold: 0 (0%)

What it means: After a 5 month trend of less than 30 new listings per month (less than 1 per day of the month), new listings spiked in March as nearly 50 new properties came onto the market, totally over $75 million in listing volume. So far in 2017, new listings have followed a similar pattern to last year, which saw 48 new listings in March 2016. The average price of March’s new listings was just over $1.6 million as a half dozen high end homes hit the market including a $19 million estate in 3 Creek Ranch. That being said, over half (58%) of the new inventory hitting the market in March was priced under $1 million. We continue to see high demand for this price segment, as 9 of these new listings are already under contract (as of April 10th). Five more listings priced over $1 million are also pending, including a large home in the Gill Addition bordering the Elk Refuge (listed for $6.5 million) and a Love Ridge condo at Snow King, that received 3 offers in the first week on the market. With nearly 40% of March’s new inventory already snatched up, we may be seeing a preview of hot real estate market this coming summer. As the snow melts and spring arrives in Jackson, 8 new building sites hit the market in March, with an average listing price just over $1 million. Four of the eight new lot listings are located down in the Snake River Sporting Club, a golf and equestrian club south of Hoback Junction. 

Notable new listings in March include:

• Two Eagle Village condos with underground parking – $550,000 & $595,000
• An older cabin on a 0.17 acre lot in Kelly – $499,000 – UNDER CONTRACT
• Four bedroom Snow King condo zoned for short term rentals in Town – $930,000

Click HERE to view all available March residential listings (excluding 14 pending sales).

Click HERE to view all available March land listings.

(Contact me to view any pending or sold properties from March.)

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