What happened in July?
Jackson Hole Real Estate sales exploded in July recording 57 transactions, more than double the sales seen just last month and also topping sales levels from this time last year (49 sales in July 2019). What is even more impressive was the monthly sales volume - a staggering $165 million, far surpassing the previous monthly sales volume record of $118 million April 2018. There is no doubt about it - the Jackson Hole real estate market is on fire! The average sale price increased to $2.88 million in July, the highest level seen in the last 12 months. The median sale price also increased up to $1.9 million, the highest monthly level since I began keeping these stats back in 2013. Out-of-town buyers continue to come to Jackson Hole, putting added demand on an already tight market. July sales occurred, on average, at 97% of their listing prices. Fourteen properties (25% of all sales) sold at or above their asking prices, many a result of multiple offer situations. Single family homes made up more than two-thirds of July sales, also a high not seen in the last 7 years. Nearly 72% of July sales were for more than $1 million with the majority of sales (25) occurring in the $1 - 3 million range. A whopping 16 properties sold above $3 million, with three properties in excess of $10 million, including two large homes north of town and a home with 360 degree views atop Gros Ventre North.