2020: April Sales in Jackson Hole

What happened in April?

What Sold

Since COVID-19 shut down much of Jackson Hole in mid-March, real estate activity has definitely slowed. While March numbers were still strong thanks to a busy first half of the month, April sales numbers seem to better reflect the effects of the Coronavirus on our market. There were only 18 sales in April 2020, totaling $26 million in total sales volume. While April is considered the "off-season" in Jackson, with consistently slower real estate activity, it was much slower this year in particular, recording roughly half of the 33 sales seen in April 2019. Sales volume was also lower, with approximately $12 million less than in April 2019 and marking the lowest monthly sales volume since April 2016. After exceeding $2 million for each month of the first quarter this year, the average sale price dropped significantly in April, down to $1.4 million, the lowest monthly average sale price in the last 11 months. The median sale price was also down, dropping from $1.6 million in March 2020 to $1.323 million in April 2020, which was however, still nearly double the median sale price in April 2019 ($785,000). April's lower average sale price can be explained by two other monthly stats.
1) Nearly half of April sales this year were under $1 million vs. Q1 2020, where sales in this segment accounted for 30-34% of all sales.
2) Only 2 sales occurred over $3 million, the lowest monthly number of high-end sales since April last year.
Properties that sold in April were not on the market long selling within an average of 133 days, the lowest days on market in the past 7 months. Sale prices remain strong seeing an average sale to list price ratio of 97%, with 5 properties selling at or above their asking price in April. Condo and townhome sales represented 50% of all sales in April, the highest monthly percentage since nearly a year ago in May 2019. Only 1 lot sold in April, the only time that has happened since I began tracking stats in 2013

Real Estate Transactions


Total Sales Volume


Average Days on Market




Single Family Home Sales


of property sales under $1M



Thinking of Selling?

Given the recent economic disruptions of the coronavirus, is now the right time to sell? Jackson Hole inventory is currently low, which can be an advantage for Sellers, but are there enough buyers ready to make a move right now? How can we effectively show properties while social distancing? Do virtual tours add enough value to convert Buyers? The answers may not be clear. In reality, every seller situation is unique and each market segment will experience these changes differently. I'm here to help you navigate this unprecedented time. Please reach out for an informal discussion; let's chat about your unique situation.
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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