2020: July New Listings in Jackson Hole

What happened in July?

New Listings

The rate of new inventory entering the market remained strong in July with nearly 100 new listings coming online. Down from June's high of 110, more properties hit the market this July than in July of 2019 (91 new listings). The total listing volume topped $300 million for only the second time since last July 2019 ($320 million). The average listing price remained above $3 million for the second month in a row, and the 4th time in 2020. The median list price dropped in July, down to just under $1.8 million from $2.175 million in June. Despite the declining median list price, the majority of new listings in July we're in the $3+ million segment, the first time we've ever seen the majority of a month's new listings in this price point. A staggering 35 new listings hit the market in excess of $3 million with 4 listings over $10 million, including homes in 3 Creek Ranch and up at the Amangani, and a slope side private residence at the Four Seasons. Nearly 30 properties hit the market in both the $500 - $1 million "locals market" and the $1-3 million segment. Over half of the new listings in July were for single-family homes, a section of the market that has seen healthy sale activity over the past few months. Nearly 60 new lot listings have entered the market since May, more than in the previous 9 months combined.

New Listings

$302,261,500

New Listing Volume

19

Vacant Lot Listings

$3,116,098

Average List Price

$1,795,000

MEDIAN LIST PRICE

5

listings under $500,000

35

Listings over $3M

Is now a good time to buy?

An influx of out of town buyers has definitely put added pressure on the market, with many properties receiving multiple offers upon hitting the market. Now more than ever, it's important to be ready to jump when the right opportunity arises. Know the market, follow the comps, make sure your financing plan is lined up, be ready to act on the right property. If you are looking to buy in this market, please connect with me so that we can make sure you are being alerted to new listings as soon as they hit the market. If I know what you are looking for, I can keep an eye out for soon to be listed properties as well, alerting you before they hit the market.
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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