What happened in August?
Real Estate Sales were up in August in Jackson Hole, reaching 50 sales and recording the highest monthly total of the year. Overall Sales Volume was also up this past month, topping $100 million for the first time in 2019. Thanks to 7 high-end sales over $3 million in August (including a 13 acre private estate in Wilson- selling for just under $18 million), the average sale price surpassed $2 million for the first time in the past 6 months. The median sale price was also up, reaching $1,326,000 and illustrating that August prices were up across the board, not just in the high-end. Case in point, over half of August sales were in the $1-3 million range, a price point usually accounting for 20-35% of monthly sales. Only 3 sales occurred under $500,000, the lowest monthly level seen in 2019, representing only 6% of total sales. Single family homes dominated the sale sheet in August, representing 60% of all sales while the number of townhome sales dipped, accounting for less than a quarter of August sales. The average days on market increased slightly in August while the sale to list price ratio dropped back down to 96%, illustrating that properties selling in August sat on the market a little longer and sold for a little less that previous months, perhaps signalling a slowing of the fast paced appreciation seen in the early summer months.