The Jackson Hole real estate market does not appear to be slowing down one bit as October sales (58) kept pace with a busy end of summer. Total sales volume topped $100 million for the third month in a row! - An unprecedented stretch not seen in our recent market (since I began tallying stats in 2013 anyway). The average sales price of $1.87 million was a slight increase from September but was still below the high of $2.022 million from August 2019. Median sales price remained steady at just above $1.1 million. The average days on market increased after a low of 111 days in September, however properties were still selling at 96% of list price on average. In particular, 15 properties (25% of all sales) sold AT or ABOVE their listing price in October. Single family homes represented an even 50% of all October sales, while land purchases showed no signs of slowing, accounting for 14% of all sales for the second month in a row. Properties selling under $500,000 increased in October thanks to several sales of the last remaining Virginian Village condos in the Town of Jackson. The majority (43%) of all sales occurred in the $1-3 million price point for the third month in a row. The high-end segment of the market remained strong with 8 more sales over $3 million, accounting for a solid 14% of sales seen in October.

The rate of new inventory hitting the market has dropped significantly in each of the last 2 months. October new listings we're only half of the new listings in September and a third of what they were in August 2019. While the busy listing season may be over, thanks to two very high end listings (see below), the overall list volume in October actually increased 26% from September (which saw 50% more listings). The majority of new inventory in October was in the $1-3 million price range where we've been seeing the majority of the sales take place for the past 3 months. Only two properties came on under $500,000 - a Hansen Meadows 1 bedroom condo in Town and a deed restricted two bedroom condo south of town - both of which received immediate interest and went under contract quickly. Meanwhile, 10 new listings in October exceeded $3 million, including two very high-end properties: a 6,500 square foot contemporary house up on Spring Creek Ranch for $15 million and a 3 lot, 20 acre estate south of Wilson, listed for just under $25 million. Of the 34 new listings in October, nearly one-third are already under contract or closed illustrating that high demand still exists in the market for well-priced properties.