What happened in April?
We are on the front end of the busy spring/summer listing season here in Jackson Hole, as we see more and more properties coming to market each month, including 41 new listings in April. The overall dollar volume of these new April listings totaled $65 million, equating to an average listing price of just under $1.6 million, a slight dip from last month, but a number much lower than monthly averages typically seen in the past year. The median list price also dropped in April, down more than $200,000 from March 2019. While new listings in April were equally split between over/under $1 million, 17 of those new listings occurred in the $500,000 - $1,000,000 segment -- including townhomes in Town, The Aspens and Teton Village, and one single family home in Porcupine Creek, listed for $949,000. This comes as good news for local buyers, who have been frustrated with consistently low inventory levels in this segment. Demand remains strong and competition is high however, as over a third of April listings are already under contract.