Monthly Market Update for July 2014
Jackson Hole, WY
What Sold in July 2014?
- 52.5% :: Percentage of single family home sales (much higher than typical)
- 25% :: Percentage of condo/townhome sales (down significantly from last month’ s 46%)
- 22.5% :: Percentage of Land Sales (up from last month’s 14%)
- 2.5% :: Percentage of distressed property sales (1 short sale in July)
- 25% :: Percentage of residential properties selling for over $1 million (down again from last month’s 29%)
- 75% :: Percentage of residential properties selling for under $1 million (up slightly from last month’s 71%)
- 36% :: Percentage of residential properties selling for under $500,000 (down from last month’s 43%)
What it means: The month of July saw the highest amount of single family home sales in almost a year. Single family homes sales accounted for 52.5% of all sales last month and included several high end properties in Teton Pines, Stilson Ranch (pictured below) and Teton Village (which had been on the market for 564 days!). There were also two high end lot sales in Crescent H and Shooting Star, listed at $5.5 million and $2.3 million, respectively. Neither sale price was disclosed. Conversely, condo and townhome sales were down significantly last month representing only 1/4 of all sales. This trend mirrors the available inventory, where there are 213 single family homes for sale and only 91 condos available for sale. Land Sales were up again, representing 22.5% of all sales in July. Last month there was one short sale, only the third distressed sale in all of 2014. It was a small condo on Snow King Drive that went under contract back in March 2014.
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