Jackson Hole Real Estate Market Report | Year End 2018
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.