2018: November – What Sold?

What happened in November?

What Sold

November recorded 45 real estate sales, down from last month (53 sales) and also down from November 2017 (50 sales). However, despite having 8 fewer transactions than October, the sales volume in November was $10 million higher. In fact, November was only the third month all year where total sales volume exceeded $100 million. This spike in total volume was helped by 3 large sales: 2 houses in the exclusive Indian Springs neighborhood (both listed slightly over $10 million), and a 170 acre ranch parcel at the end of Boyles Hill Road, which was listed for $23 million. As a result, the average sales price jumped up to $2.2 million in November, however the median sales price dropped to $965,000 as 53% of all sales last month occurred under $1 million. The sales to list price ratio reached 98% for the first time since I began tracking these stats in 2013! Nearly 30% of all November sales occurred at or ABOVE their listing price, with several other sales occurring very close to the listing price, an indication that our market remains very competitive with limited inventory. The average days on market increased to 157 days in November as a few older listings finally sold, including a unique inholding on Mormon Row in Grand Teton National Park, that was ultimately sold to the National Park Foundation. That being said, over 40% of property sales in November were on the market less than 90 days.

Real Estate Transactions

$101,494,388

Total Sales Volume

157

Average Days on Market

$965,000

MEDIAN SALES PRICE

$2,255,431

Average Sales Price

11%

of property sales were under $500,000

24

TRANSACTIONS UNDER $1M

Thinking of Selling?

In November, 40% of properties sold within 90 days of hitting the market and sold at 98% of their listing prices. Demand for Jackson Hole properties remain high from both local and out of town buyers. Don't wait until spring - take advantage of lower inventory. 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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