The Jackson Hole Real Estate Market Report for 2016 Mid-Year
We are pleased to announce the all-new Jackson Hole Real Estate Market Report for the first half of 2016. In this detailed report, you will find information on the market segments making up the Jackson Hole area. This newly redesigned market report is a more dynamic report that sheds fresh light on the insights and trends that are shaping our real estate market.
The overall market in the first half of 2016 experienced a decrease in the number of transactions, down about 14% compared to the first half of 2015. While the number of transactions fell, the average and median sale prices were still higher in the first half of 2016 than in the first half of 2015. The average sale price increased by about 9% and the median sale price increased about 10%. The average and median sale prices were higher than in 2015, but lower than in the first quarter of 2016. The difference may be attributed to the shift in the distribution of sales in the $500,000-$1 million price ranch, 39% of total sales. There were 78 transactions under $1 million. Properties also sold more quickly than in the first half of 2015. The average number of days on market decreased by 12%, and by over 18% in the single family and vacant land segments.
The inventory shortage throughout 2015 did not change much in the first half of 2016, with the number of active listings up only 1%. Without a large increase in inventory, low supply will likely continue to be a contributing factor in the balance of 2016. Click to view the full report.