What happened in February?
New listings spiked in February with 42 properties hitting the market, the highest monthly level of new inventory since last September 2019. List volume was also up, reaching nearly $120 million. However, the average list price dropped to $2.85 million from the highs seen in December and January ($3.9M & 3.45M respectively). The median listing price was also down, dropping significantly to $1,650,000, as 14 new properties entered the market under $1 million including two condos and town under $400,000 that went under contract immediately. The majority (21) of February's new listings were condos and townhomes, including short term rental condos in Teton Village, The Aspens and Jackson Hole Golf & Tennis. Only 4 building sites came onto the market including a two lot re-development opportunity in East Jackson, listed at $2.85 million.