2019: November New Listings in Jackson Hole

What happened in November?

New Listings

New listings continued to decline as we enter the winter season in Jackson Hole. Only 26 properties came to market in November, roughly one-quarter of new monthly inventory levels seen in the busy spring / summer listing season. Overall dollar volume of November's listings was $45 million, also a far cry from monthly levels of $200-400 million seen in the spring and summer of this year. While November is historically a slow month for new listings, this November appears to be even slower than last year, when 31 properties came on totaling $64 million. After peaking at $3.4 million in October, the average listing price was cut in half, dropping to $1.7 million in November. The median listing price also declined, dipping to $1.125 million. Interestingly, November was one of the few months where the median LIST price was in line with the median SALES price, as inventory that sold in the month was being replaced with inventory of a similar price point (on average). The majority of November new listings were split between the $500,000- $1,000,000 and the $1-3 million price segments, together accounting for 80% of all new November listings. Five high end listings hit the market in November including two homes in Teton Village for $3.5 and $5.4 million, and the iconic Miller House, a historic yellow building on the corner of Broadway and Willow downtown, listed for $4.5 million dollars. Two of the 5 new listings in this high-end segment are already under contract. For the first time since I began tracking new listings in January 2014, there were 0 new listings priced under $500,000 this past month.

New Listings

$45,061,000

New Listing Volume

4

Vacant Lot Listings

$1,733,115

Average List Price

$1,187,500

MEDIAN LIST PRICE

0

listings under $500,000 Price Point

5

Listings over $3M

Winter is a Great Time to be a Buyer

As we enter winter, many sellers' motivation increases, especially for properties first listed in the summer. This can present great opportunities for buyers. Contact me to learn where I see the best off season 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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