real estate inventory jackson wy Archives - Page 2 of 3

2019: September New Listings in Jackson Hole

October 15, 2019/in Jackson Hole Real Estate, Market Report, Market Reports, Market Statistics, Monthly Market Update, New Listings, Real Estate Sales/by Molly Stewart

After averaging nearly 100 new listings for the previous four months, the busy listing season slowed a bit with only 63 new properties hitting the market in September. While it is lower than levels seen in May, June, July and August, September’s new listings still outpaced typical winter / spring levels. The volume of all new listings last month was $92 million dollars, less than one-third of the monthly average of $300 million during the busy summer listing season. The average listing price dropped significantly down to $1.4 million from highs of $4.2 million seen in June 2019. The median listing price also dropped, down $470,000 to $1.125 million in September. The biggest change in the price breakdown was in the high-end ($3+ million). After seeing an average of 24 new listings a month in this price range, only 7 of these high end listings came on the market in September, including two Pine Glades Townhomes on Snow King (listed for $3.25 million and $3.95 million). The entry-level (under $500,000) increased slightly in September with 6 new listings including the last available Virginian Village condo at $327,500 and a deed restricted Town Creek townhome for $350,000. While new listings in the local’s market ($500,000 – $1 million) remained consistent in September, the majority of new listings were in the $1-3 million range however still represented 20 fewer listings than seen in August.

2019: August New Listings in Jackson Hole

September 12, 2019/in Jackson Hole Real Estate, Market Report, Market Reports, Market Statistics, Monthly Market Update, New Listings, Real Estate Sales/by Molly Stewart

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.

2019: July New Listings in Jackson Hole

August 12, 2019/in Jackson Hole Real Estate, Market Report, Market Reports, Market Statistics, Monthly Market Update, New Listings, Real Estate Sales/by Molly Stewart

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.

2019: June New Listings in Jackson Hole

July 17, 2019/in Jackson Hole Real Estate, Market Report, Market Reports, Market Statistics, Monthly Market Update, New Listings, Real Estate Sales/by Molly Stewart

Over 100 new listings hit the market in June for the second month in the row as the busy summer selling season continues in Jackson Hole. While June and May were similar in their number of new listings, their volume certainly was not. June saw nearly $440 million in listing volume, approximately double the volume seen in May for a similar number of listings. One particular new listing certainly tipped the scales – a 7 parcel assemblage totaling nearly 300 acres along the Snake River, listed for a cool $80 million. However, even without that listing, June 2019 had by far the highest monthly listing volume seen since I began tracking volume in June 2015. As expected, the average listing price jumped up in June to just over $4 million, however the median listing price was up as well, reaching $1,845,000. To put that in perspective, compare it to the busy summer selling season of 2018, when median list prices were in the $1.6 million range. In addition to the $80 million listing, there were four other new listings in excess of $15 million including two homes in Fairway Estates north of town, a home in Teal Trace in Wilson and a large ski chalet in Teton Village at the base of Jackson Hole Mountain Resort. The influx of luxury listings didn’t stop there, with 9 additional listings priced over $5 million entering the market last month. While June saw a similar number of listings coming online in the local’s market ($500,000 to $1,000,000), only 2 new property options came on under $500,000 (compared to 11 in May).

2019: May New Listings in Jackson Hole

June 8, 2019/in Market Reports, Uncategorized/by Molly Stewart

Listing activity exploded in May with over 100 new listings hitting the market last month. New listings in May of this year exceeded all of the busy summer months of 2018. In fact, the last time we saw over 100 new listings in a single month was back in July 2017. May’s new listings totaled nearly $225 million, a monthly dollar volume not seen since August 2018. Of the 101 new listings in May, 35 of them were for vacant land, an activity level not matched since May of 2014. These available building sites covered the entire Valley from Solitude down to the Snake River Sporting Club, Ranging in price from $345,000 – $16,000,000. The average listing price of May’s new inventory is $2.2 million, the highest monthly average we’ve seen so far this year. The median sales price also increased in May, up to just under $1.3 million. The majority (40%) of new listings in May were in the $1-3 million price range. Twenty-two new listings entered the market priced above $3 million, including homes in Granite Ridge and Shooting Star out at Teton Village and two lots in the newly-created Seven Springs subdivision along the Snake River on the Westbank. On the other end of the spectrum, only 10% of the new inventory was under the $500,000 mark and included 1-2 bedroom condos in Ponderosa Village and Virginia Village in the Town of Jackson. Nearly 1/4 of May’s new listings are already under contract or closed, signaling a strong start to what should be a very busy summer selling season.

2019 Q1: New Listings in Jackson Hole

April 14, 2019/in Market Reports, Uncategorized/by Molly Stewart

New Listings were up 15% in Q1 2019 compared to this time last year, as 113 new properties hit the market so far this year. Sellers, perhaps motivated by the hot market in 2018, were encouraged to list their homes at the start of 2019, with nearly half of the quarterly listings (55) coming onto the market in January, usually a slow month for new listings. The dollar volume of new listings was also up 23%, increasing from $174 million in Q1 2018 to $213 million in Q1 2019. January was again the busy month, accounting for 56% of the new dollar volume of the first quarter. The average listing price increased from $1.775 million in Q1 2018, to just under $1.9M this year, in part thanks to a strong January where the new listing average hit $2,176,000. The median list price fluctuated in the first quarter of 2019, reaching $1.12M in January, dropping to below $1 million in February and then spiking up to over $1.3M in most recently in March.

In breaking down the price point of these new listings, the “hot spot” of the first quarter was new listings in the $500,000 – $1M range, accounting for nearly 30% of all new listings in the first quarter. While this is welcomed news for local buyers faced with limited inventory, the market remains competitive in this price point, with more than half of the 32 new listings already sold or under contract. After starting out the year strong, with 11 new listings over $3 million in January, high-end listings slowed as only 8 hit the market in February and March.

2019: New Listings in Jackson Hole

February 7, 2019/in Market Reports, Uncategorized/by Molly Stewart

The New Year was off to a very strong start from an inventory perspective too, as 55 new listings hit the market in January. Unusually high for this time of year (Jan 2018 saw only 39 new listings), January saw the most new listings since Aug 2018. Dollar volume of the new inventory topped $100 million for the second month in a row. After peaking at nearly $2 million in Dec 2018, the median list price dropped back down to $1.12 million in January, closer to typical levels seen in 2018. The average listing price also dipped after a high of nearly $3.3 million in December (thanks to several high end listings entering the market in late 2018). While a similar number of new high-end listings ($3+ million) entered the market in January (11 vs 12 in Dec 2018), the “local’s market” saw the largest surge in inventory as 22 new properties came onto the market. This is the highest level of new inventory seen in this price point since Aug 2018 – great news for local buyers, who struggled with limited available inventory for much of 2018.

2018: December – What Sold in Jackson Hole?

January 8, 2019/in Market Reports, Uncategorized/by Molly Stewart

2018 ended somewhat quietly in the Jackson Hole real estate world. Down from 45 sales in November, December recorded only 32 sales, the lowest monthly total since April 2018. Sales volume was also down, reaching just over $66 million, the lowest volume seen since March 2018. While the average sales price was just above $2 million, the median sales price (a more accurate indication of “middle of the road” values) came in just above $1 million in December, a steady trend seen throughout the 4^thquarter. After spiking to 98% in November, the sales price to list price ratio dropped back down to 96% in December, below the average of 97% seen through much of 2018. Only 4 properties sold at or above the listing price, as more sellers appeared willing to negotiate with the year-end approaching. The average days on market increased slightly to 177 days in December, just above the annual average of 153 days. In December, 3 of the new Town Square Condos (atop the new Marriott hotel) closed. After first coming onto the market in October of 2016, 4 of the 9 units are now sold.

2018: November – What Sold?

December 10, 2018/in Market Reports, Uncategorized/by Molly Stewart

November recorded 45 real estate sales, down from last month (53 sales) and also down from November 2017 (50 sales). However, despite having 8 fewer transactions than October, the sales volume in November was $10 million higher. In fact, November was only the third month all year where total sales volume exceeded $100 million. This spike in total volume was helped by 3 large sales: 2 houses in the exclusive Indian Springs neighborhood (both listed slightly over $10 million), and a 170 acre ranch parcel at the end of Boyles Hill Road, which was listed for $23 million. As a result, the average sales price jumped up to $2.2 million in November, however the median sales price dropped to $965,000 as 53% of all sales last month occurred under $1 million. The sales to list price ratio reached 98% for the first time since I began tracking these stats in 2013! Nearly 30% of all November sales occurred at or ABOVE their listing price, with several other sales occurring very close to the listing price, an indication that our market remains very competitive with limited inventory. The average days on market increased to 157 days in November as a few older listings finally sold, including a unique inholding on Mormon Row in Grand Teton National Park, that was ultimately sold to the National Park Foundation. That being said, over 40% of property sales in November were on the market less than 90 days.

2018: Q1 Review

April 18, 2018/in High End Real Estate, Jackson Hole Real Estate, Jackson Hole Report, Land/Building Sites, Listing Prices, Luxury Property, Market Report, Market Reports, Market Statistics, Real Estate Sales, Sale to List Price Ratio, Sales Volume, Short Sales, Single family homes, Town of Jackson, Townhome/by Molly Stewart

The number of new listings hitting the market in first quarter of 2018 is up slightly when compared to last year, thanks to an usually busy January 2018, where nearly 40 new listings hit the market (vs. 21 in Jan 2017). However, the overall dollar volume of these new listings is down slightly in Q1 2018. As a result, the average listing price for the first quarter is down 15%, from $2.092 million to $1.78 million. The decrease was helped by the strong Jan 2017 (which saw an average listing price of $3.3m) and a somewhat weaker March 2018 (which saw an average listing price of $1.2m).

We are officially entering the “busy listing season” of April/May/June, so it will be interesting to see how much new inventory hits the market (and at what price points). Stay tuned….

Tag Archive for: real estate inventory jackson wy

What happened in September?

New Listings

$92,172,500

New Listing Volume

14

Vacant Lot Listings

$1,463,056

Average List Price

$1,125,000

MEDIAN LIST PRICE

55%

over $1M Price Point

6

Listings under $500k

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 August?

New Listings

$218,169,900

New Listing Volume

11

Vacant Lot Listings

$2,345,913

Average List Price

$1,595,000

MEDIAN LIST PRICE

70%

over $1M Price Point

4

Listings under $500k

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 July?

New Listings

$320,331,000

New Listing Volume

10

Vacant Lot Listings

$3,520,121

Average List Price

$1,675,000

MEDIAN LIST PRICE

88%

over $1M Price Point

4

Listings under $500k

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

$439,163,000

New Listing Volume

17

Vacant Lot Listings

$4,222,721

Average List Price

$1,845,000

MEDIAN LIST PRICE

75%

over $1M Price Point

2

Listings under $500k

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.

New Listings

$224,672,000

New Listing Volume

35

Vacant Lot Listings

$2,224,475

Average List Price

$1,295,000

MEDIAN LIST PRICE

22%

over $3M Price Point

11

Listings under $500k

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.

New Listings – What’s New?

$1,891,549

AvERAGE LIST PRICE

$213,744,999

LIST PRICE Volume