2020: December New Listings in Jackson Hole

What happened in December?

New Listings

New listings slowed in December, with only 29 properties hitting the market. After a surge in new inventory throughout the third quarter and an unusually busy November (44 new listings), December marked the second lowest monthly listings of this busy year. December is not a typically popular time to list a home for sale, and December’s new listing level was in line with December 2019 (30 listings). While only 29 listings hit the market, the average list price last month was a staggering $4M (again!) The median list price fell slightly to $2.35M, down about $350,000 from November, but still higher than December 2019 ($1,972,500).

The luxury market (properties priced over $3M) continued to be the dominant price point, accounting for 12 new listings in December. On the other end of the market, the $500,000 price point saw only 1 new listing – a mobile home listed for $315,000. Single-family homes were again the most popular new listing type, with 18 new homes hitting the market in December. While we saw an average of 20 new monthly land listings through the summer and fall, only 3 new vacant lots hit the market December, which is not usually a busy month for new lot listings. Inventory levels are extremely low as we enter 2021. The inevitable questions remain – with so much inventory moved in 2020, what is left to move in 2021?  Will we see a spring offseason in 2021? Or will the demand to relocate to Jackson Hole continue indefinitely?

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$116,366,000

New Listing Volume

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3

Vacant Lot Listings

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$4M

Average List Price

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$2.35M

MEDIAN LIST PRICE

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1

listing under $500,000

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20

Listings over $1M

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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.