What happened in October?
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.