Monthly Market Update for November 2013
Jackson Hole, WY
What Sold in October 2013?
- 49% :: Percentage of single family home sales (a 10% increase from last month’s 39%)
- 37% :: Percentage of condo/townhome sales (vs. 33% last month)
- 14% :: Percentage of Land Sales (down from last month)
- 1.75% :: Percentage of distressed property sales (4 bank sales and 1 short sale)
- 43% :: Percentage of residential properties selling for over $1 million (double last month’s 22%!)
- 57% :: Percentage of residential properties selling for under $1 million (down 20% from Sept)
- 27% :: Percentage of residential properties selling for under $500,000 (down from 39% in Sept)
What it means: The big story in October was the large amount of high end home and property sales in the Teton County area. Almost 1/2 of all sales this past month were for properties over $1,000,000. Ten properties sold for over $3 million and 3 pieces of property sold for over $10 million! (Who was visiting Jackson Hole last month?!) The numbers also tell us that the majority (49%) of sales this past month were single family homes, however there were several high end condominiums that sold as well including a Crystal Springs 2,000 square foot condo at Teton Village and a 2 bed / 2 bath condo at Pearl @ Jackson in downtown. Both condos sold for over $1.3 million (pictured below). After a September without a single distressed property sale, the month of October saw 4 bank sales and 1 short sale. However, currently there are only 2 distressed properties available for sale in Teton County and only 4 properties on the Teton County Sheriff’s Foreclosure List.
Pearl @ Jackson condos in downtown Jackson
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