2019: May Sales in Jackson Hole

What happened in May?

What Sold

Sale transactions increased in May, recording 41 transactions, the highest monthly level so far in 2019. Dollar volume increased from April but was in line with previous months this year, suggesting that while more sales occurred in May, they were at lower price points. In fact, two thirds of May sales were under $1 million, with nearly 20 sales in the $500,000-$1,000,000 price point (commonly referred to as the "local's market"). While a few high sales pulled the average sales price up towards $1.5 million, the median sales price remained under $1 million for the second month in a row. The majority of May sales were for condos/townhomes, including several in the newly remodeled Virginian Village complex in town. The average days on market increased in May, in part thanks to 4 vacant lots that finally sold after 1-2 years on the market. The sale price to list price ratio held strong at 96% as many properties sold close to their listing prices. There were 9 sales that occurred at or above full listing price, illustrating high demand and tough competition for desirable properties that are priced in line with the market.

Real Estate Transactions

$59,646,869

Total Sales Volume

176

Average Days on Market

$839,000

MEDIAN SALES PRICE

61%

Townhome/Condo Sales

66%

of property sales under $1,000,000

6

TRANSACTION OVER $3M

Thinking of Selling?

Is now the right time to sell? 2018 was an explosive year in the Jackson Hole real estate market and Q1 stats suggests those trends are continuing. Contact me for a opinion of your property's value in this competitive seller's market.
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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