2019: December Sales & New Listings

What happened in December?

What Sold

December was a slow month for real estate sales, recording only 34 transactions, the third slowest month in 2019. While not typically a busy selling month (December 2018 recorded 32 sales), the dollar value of December sales remained strong, with an average sale price just under $2 million. December saw 3 sales over $5 million including a 6,400 square foot contemporary home in the Snake River Sporting Club, and two 35 acre tracts in Bar BC Ranch. However it wasn't just the high-end segment of the market that was busy at the end of the year, prices were up across the board as the median sale price jumped up to $1.4 million after holding steady at $1.1 million for the previous 3 months. The sale price to list price ratio remained at 95%, with only 4 properties selling at or above their listing price, perhaps an indication of sellers motivation at year-end. Fifty percent of December sales were for single-family homes and 50% of all monthly sales occurred in the $1-3 million range, highs for both those metrics.

Real Estate Transactions

$66,348,239

Total Sales Volume

167

Average Days on Market

$1,400,000

MEDIAN SALES PRICE

35%

Townhome/Condo Sales

65%

of property sales over $1M

2

TRANSACTION UNDER $500,000

Thinking of Selling?

As new inventory entering the market goes down, Buyers options are dwindling. If you are thinking about selling, now may be a good time to capture interested buyers attention. Contact me to chat about your property's value in today's market.

New Listings

December saw a slight uptick in new listings with 30 properties hitting the market last month.  Not deterred by the slow time of year, 9 new listings came on over $3 million, including a 100+ acre big view property north of town for $14,450,000 and a newly-built 18,000+ square foot home with guest home and barn on 215 acres in the heart of Jackson Hole. Listed at $35 million, it's rumored to be the most expensive new listing in the country. Skewed by the influx of high-end listings in December, the average listing price jumped up to nearly $4 million. The median listing price also increased in December up to just under $2 million as 21 new listings entered the market priced over $1,000,000 vs just 8 under $1 million (and only two under $500,000). Of December's 30 new listings, 8 are already under contract or closed.

New Listings

$117,512,000

New Listing Volume

3

Vacant Lot Listings

$3,917,067

Average List Price

$1,972,500

MEDIAN LIST PRICE

2

listings under $500,000 Price Point

9

Listings over $3M

Winter is a Great Time to be a Buyer

Because winter is not a desirable time to list a property for many sellers, those that do list can have a compelling reason to sell. This can present great opportunities for buyers to take advantage of some sellers added motivation. Contact me to learn where I see the best winter deals.
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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