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