2018: December – What Sold in Jackson Hole?

What happened in December?

What Sold

2018 ended somewhat quietly in the Jackson Hole real estate world. Down from 45 sales in November, December recorded only 32 sales, the lowest monthly total since April 2018. Sales volume was also down, reaching just over $66 million, the lowest volume seen since March 2018. While the average sales price was just above $2 million, the median sales price (a more accurate indication of “middle of the road” values) came in just above $1 million in December, a steady trend seen throughout the 4thquarter. After spiking to 98% in November, the sales price to list price ratio dropped back down to 96% in December, below the average of 97% seen through much of 2018. Only 4 properties sold at or above the listing price, as more sellers appeared willing to negotiate with the year-end approaching. The average days on market increased slightly to 177 days in December, just above the annual average of 153 days. In December, 3 of the new Town Square Condos (atop the new Marriott hotel) closed. After first coming onto the market in October of 2016, 4 of the 9 units are now sold.

Real Estate Transactions

$66,018,286

Total Sales Volume

177

Average Days on Market

$1,005,000

MEDIAN SALES PRICE

$2,063,071

Average Sales Price

3%

of property sales were under $500,000

15

TRANSACTIONS UNDER $1M

Thinking of Selling?

In December, more than 3 out of 4 new listings were priced over $1 million. Inventory for the sub million market remains low, with continued high demand. If you are thinking of selling this spring, why wait? Contact me for a opinion of your property's market value.
Note: All statistics are pulled from Teton Board of Realtors Multiple Listing Service for residential sales/listings in Teton County, WY for the dates specified above. It is estimated that sales outside of MLS account for an additional 10-20% of transactions/volume. Contact Katie for more details.

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