Transactions/Sales Volume – What Sold?
Average Sales Price
Total Sales Volume
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.