Fueled by an uptick in land sales, the Luxury Sector of the market increased in both listings and sales. Properties that sell above the $3M mark define the luxury threshold in Teton County. More properties entered this category due to an overall increase in average sales price. Luxury transaction growth YD 2021 vs. 2020 is up 18% and total dollar volume increased by 17% as well. The south-of- Jackson area spiked in transaction volume as list prices in those regions surpassed $3M. Pending listings are down significantly as luxury listings closed briskly in Q3 and inventory is down more modestly at 9%. VIEW FULL MARKET REPORT >>
With the significant lack of single-family home availability, building becomes the only viable option driving up Vacant Land sales. Transactions rose 34% to 121 and sales volume increased a whopping 80% to $353M YTD 2021 vs. 2020. Land sales in the $2M to $5M range experienced an uptick from 19 to 36 parcels. There is a significant reduction in inventory at the time of this report down 19%. Pending listings are significantly down to a total of only 8 as land parcel sales closed quickly in Q3 2021. VIEW FULL MARKET REPORT >>
https://jacksonholeexperts.com/wp-content/uploads/2021/11/2021Q3VacantLand_Inforgraphic-01.png25503300Jessica Sheehyhttps://jacksonholeexperts.com/wp-content/uploads/2021/07/LogoBlack.pngJessica Sheehy2021-11-04 15:25:352021-11-04 15:25:35Market Snapshot 2021 Q3: Vacant Land
With the third quarter of 2020 posting banner numbers, Q3 2021 fared relatively well, but the lack of Single Family Home inventory was clearly illustrated. Sold units declined 6% YTD 2021 vs. 2020. Dollar volume was up a modest 6% but surpassed the $1B mark YTD. Sales of homes in the $500K to $1M price range dropped significantly from 38 in 2020 to 12 in 2021, simply due to no lower priced inventory. The lower transaction volume coupled with a modest sales volume equated to a 28% increase in average sales price to $4.1M. Active listings are down 6% (as opposed to 48% last year at this time), a possible indicator that the inventory crisis is leveling slightly. VIEW FULL MARKET REPORT >>
https://jacksonholeexperts.com/wp-content/uploads/2021/11/2021Q3SingleFamily_Inforgraphic-01.png25503300Jessica Sheehyhttps://jacksonholeexperts.com/wp-content/uploads/2021/07/LogoBlack.pngJessica Sheehy2021-11-04 15:18:462021-11-04 15:26:01Market Snapshot 2021 Q3: Single Family Homes
The Jackson Hole real estate market is off to a strong start through the first quarter of 2019, buoyed by continued demand for high-dollar properties. A jump in luxury property sales significantly pushed up the overall average and median sales prices, including one notable property listed above $17 million, even though the number of transactions fell compared to the first quarter of 2018.
The number of sales recorded fell 11% in the first quarter compared to the same period a year earlier, but the average sale price increased 79%. That jump was driven primarily by transactions between $2 – $5 million, which jumped 71%, and sales above $5 million, which grew 83%, compared to the first quarter of 2018. Sales in the luxury market (above $3 million) grew 33 percent. The acceleration on the upper end of the market skews the overall average and median sale prices, which emphasizes the need to consider each segment independently.
Single-family homes made up the lion’s share of transactions, 44%, followed closely by condominiums and townhomes, which accounted for 40%. Overall, inventory dropped again, down 10% from the first quarter of 2018. Properties are also continuing to sell faster, with the average time on market down to 176 days.
Inventory fell 10 percent compared to the first quarter of 2018, continuing a trend of tightening supply in the Jackson Hole market. There were 126 transactions recorded in the first quarter of 2019, which marks an 11 percent decline from a year earlier.
Jackson Hole Real Estate Associates exclusively owns and maintains the valley’s oldest and most comprehensive database. Our Market Report, unlike others in the area, is derived from this proprietary, forty-year old database (not just MLS data) and draws on our brokerage’s decades of success, making it the most trusted and accurate real estate report in the region.
For more information, or to learn more about specific market details, please contact us.
We are proud to present our comprehensive market report for the 2018 year-end. Assembled from Jackson Hole Real Estate Associates’ proprietary database, the most extensive source of information about the region’s real estate market, and insight from us as well as JHREA professionals. The report provides valuable insight into the market segments that make up the Jackson Hole area. CLICK TO VIEW FULL REPORT.
Jackson Hole’s real estate market ended the year predictably strong. The draw of Jackson Hole’s rugged beauty and active lifestyle continues to reflect in our real estate market, with 2018 bringing in 10% more transactions and a 35% increase in dollar volume. Average and median sale prices were also up, increasing 16% and 11%, respectively. Several notable sales drove these figures, including the sale of the Snow King Hotel, a historic ranch property southeast of town, and a ranching / equestrian property on Spring Gulch Road.
Properties under $500,000 have become even more difficult to find, evidenced by a 24% decrease in sales. That category made up only 12% of the year’s transactions. Most sales took place in the $500,000 – $1 million segment, accounting for 36% of sales. Single family homes accounted for about 44% of all transactions this year, a 20% increase over 2017. Overall, inventory dropped about 6% and properties are selling nearly 15% faster.
Interested in a market update in your specific neighborhood or area? CONTACT Christy and Garth Gillespie for a market specific report.
00https://jacksonholeexperts.com/wp-content/uploads/2021/07/LogoBlack.png2019-01-16 11:44:562019-01-16 11:44:56Jackson Hole Real Estate Market Report | Year End 2018
On behalf of our team of dedicated professionals at Jackson Hole Real Estate Associates, we are pleased to present our comprehensive market report for 2018 quarter 1. In this detailed report, you will find information on the market segments making up the Jackson Hole area. As the market leader in Jackson Hole, we have developed a more dynamic report that sheds fresh light on the insights and trends that are shaping our real estate market.
While the total dollar volume in quarter 1 of 2018 was almost the same as 2017, number of transactions increased significantly, up 22%. Average sale price decreased by 36%, this figure was skewed by a large transaction in 2017. The median sale price decreased by 11% and was a function of the type of property transactions that took place in the beginning of 2018. Nearly 60% of the transactions in quarter 1 were in the under $1 million price segment, a 40% increase when compared to the same period last year. New inventory remained very low driving average days on market down, decreased 15%.
On behalf of our team of dedicated professionals at Jackson Hole Real Estate Associates, we are pleased to present our comprehensive market report for 2017 year-end. In this detailed report, you will find information on the market segments making up the Jackson Hole area. As the market leader in Jackson Hole, we have developed a more dynamic report that sheds fresh light on the insights and trends that are shaping our real estate market.
Persistent demand and lean supply drove prices upward in 2017. Even though the number of transactions remained steady, average and median sale prices increased by 15% and 3%, respectively. The south of Jackson area received the largest increase in the number of transactions, up nearly 60% compared to last year. This is primarily due to the success of the Snake River Sporting Club development, which had 26 transactions in 2017. Properties in the $500,000- $1 million price range were the most popular representing about 37% of total transactions. Active listings declined 23% compared to last year which caused an even more competitive environment for buyers. With 50 properties under contract at 2017 year-end, the start to the new year is expected to follow much of the same pattern of 2017.
00https://jacksonholeexperts.com/wp-content/uploads/2021/07/LogoBlack.png2018-01-22 12:12:552018-01-22 12:12:55Jackson Hole Real Estate Market Report | Year End 2017
On behalf of our team of dedicated professionals at Jackson Hole Real Estate Associates, we are pleased to present our comprehensive market report for the first quarter of 2017. In this detailed report, you will find information on the market segments making up the Jackson Hole area. As the market leader in Jackson Hole, we have developed a more dynamic report that sheds fresh light on the insights and trends that are shaping our real estate market.
The Jackson Hole real estate market remained strong at the start of the new year. The overall number of transactions increased about 14% and total dollar volume increased 20% when compared to the first quarter of 2016.
The Jackson Hole real estate market remained strong at the start of the new year. The overall number of transactions increased about 14% when compared to the first quarter of 2016. The vast majority of transactions took place in the $500,000-$1 million price segment. This was a change from the first quarter of 2016 when transactions were more evenly distributed between the $500,000-$2 million price segment. This change can be attributed to an increase in vacant land transactions, up about 50%. Inventory remained at historical lows, down about 13% when compared to the first quarter of last year.
The number of active listings decreased, down about 13%, and the number of listings under contract decreased about 7% when compared to the first quarter of 2016. View Full Report Here
Jackson Hole’s real estate market in 2014 could be defined as continued recovery and the return of a seller’s market, which is a refreshing sentiment for those invested in the real estate market, and stability for those looking to get into the market. The overall trends of 2014 showed more of the same – fewer overall transactions, increased average sale prices and very low inventory. The overall number of transactions in 2014 dropped about 13% when compared to 2013. As appreciation became reality, particularly in the lower-priced segments, the average sale price increased over 6%. Also, greatly affected was the median sale price, which climbed nearly 17% over last year, rising to $750,000. Nonetheless, the climb in sale prices was not enough to outpace the lack of transactions, which resulted in a decrease in overall dollar volume of about 5%. This decrease in total dollar volume can also be attributed to the distribution of sales, which overwhelmingly consisted of properties under $1M, or about 65% of all sales. Also notable, and comprising about 14% of 2014’s transactions, were property sales between $2M and $5M, which increased by 10%. The low supply of Jackson Hole inventory, down about 18% in 2014, has been consistent over the past 2 years, and this we anticipate driving appreciation in most market segments.
Thanks to the hard work of the staff at Jackson Hole Real Estate Associates we are able to provide you with an excellent graph outlining the recent history of sales in Jackson Hole, Wyoming.
As we can see the 3rd quarter was very strong and recorded the 6th strongest quarter since 2007. The lower end market continues to be extremely strong but we saw good sales market wide. If you would like additional information please contact Christy and Garth Gillespie at 307-413-5243 or email us at firstname.lastname@example.org.
00Garth Gillespiehttps://jacksonholeexperts.com/wp-content/uploads/2021/07/LogoBlack.pngGarth Gillespie2014-10-24 15:10:322014-10-24 15:10:32Real Estate Sales in Jackson Hole – Graph
Christy & Garth Gillespie is a team of real estate agents affiliated with Compass Real Estate, a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.