2019: November Sales in Jackson Hole

What happened in November?

What Sold

Real Estate sales dropped 31% from October recording only 40 sales in November. While down from the past few months, November's sales were in line with levels seen in May/June 2019. Overall sales volume was also down in November, falling short of $80 million and dropping below $100 million for the first time in 4 months. The average sale price inched up to just under $2 million, however the median sales price has stayed steady around $1.1 million for the third month in a row. While properties are selling at a similar amount of time (150+/- days in 3 of the last 4 months), they were selling at more of a discount to list price in November. Last month, properties sold on average at 95% of their listing price with only 3 properties selling at or above list price. Note that in October, 15 properties sold at or above list price (representing 25% of all sales). Townhome and condo sales increased significantly, representing nearly 50% of all sales in November - a strong showing considering this segment represented 36%-39% of all sales over the past few months. Usually accounting for 43-52% of sales, transactions in the $1-3 million range dropped significantly in November with only 11 transactions representing 28% of all sales. The majority (40%) of November sales were in the $500,000 - $1,000,000 price point. On the other end of the spectrum, property sales in the high-end saw an uptick with 10 sales over $3 million, accounting for 1 out of every 4 sales in November.

Real Estate Transactions

$79,639,304

Total Sales Volume

153

Average Days on Market

$1,100,000

MEDIAN SALES PRICE

40%

Single Family Sales

53%

of property sales over $1M

3

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.
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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