“What” sold in the Jackson Hole Real Estate market in September 2013?

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Monthly Market Update for October 2013

Jackson Hole, WY

What Sold in September 2013? 

  • 39% :: Percentage of single family home sales (an sharp decline from last month’s 54%)
  • 33% :: Percentage of condo/townhome sales (vs. 28% last month)
  • 16% :: Percentage of Land Sales (identical to last month)
  •   0% :: Percentage of distressed property sales (NO short sales or bank sales!)
  • 22% :: Percentage of residential properties selling for over $1 million (vs. 36% in Aug)
  • 77% :: Percentage of residential properties selling for under $1 million (vs. 64% in Aug)
  • 39% :: Percentage of residential properties selling for under $500,000 (vs. 30% in Aug)

What it means: In the month of September we saw another shift in the breakdown of types of properties sold. While single family home sales usually make up at least 1/2 of all sales, last month this segment represented only 39% of all sales.  Condo/townhome sales, on the other hand, increased to 1/3 of all sales with 9 condos/townhomes selling for under $500,000. Land sales remained steady, representing 16% of all sales in September. It will be interesting to see if this trend continues as we enter the Fall and Winter months, which typically see fewer lot sales than the Spring and Summer months. There were NO distressed sales in the month of September, the first month in all 2013 without a short sale or bank sale (see chart below), suggesting almost all of this ‘shadow’ inventory has been absorbed by the market.

Distressed

Please visit the Monthly Market Update tab for the entire October Market Report.

 

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