2019: October New Listings in Jackson Hole

What happened in October?

New Listings

The rate of new inventory hitting the market has dropped significantly in each of the last 2 months. October new listings were 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.

New Listings

$116,318,000

New Listing Volume

5

Vacant Lot Listings

$3,421,118

Average List Price

$1,712,500

MEDIAN LIST PRICE

5%

under $500,000 Price Point

10

Listings over $3M

November is a Great Time to be a Buyer

As we approach 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.

Leave a Reply

Your email address will not be published. Required fields are marked *