2020: June Sales in Jackson Hole

What happened in June?

What Sold

Real estate sales picked up in June - recording 26 sales - however sales are still below levels seen this time last year (36 sales). However, the total sales volume of $65 million is the highest monthly volume since January and slightly higher than dollar volume seen in June last year ($51 million). The average sale price was just above $2.5 million, a decrease from May but nearly $1 million higher than June last year. The median sale price picked up in June to $1.44 million, higher than the previous 12 month average of $1.3 million. Property selling in June sold more quickly than average, spending an average of 134 days on the market. While 6 properties sold at or above their listing prices, properties on average sold at a 5% discount to asking price, a drop from the 96-97% levels seen in the previous 4 months. Single-family homes made up the majority (62%) of sales in June, representing the highest monthly percentage in the past year. While 38% of sales occurred in the $500,000 - $1 million range, nearly 1 in 4 sales in June were in excess of $3 million including a Shooting Star cabin (listed for $5.5 million) and the historic 199 acre Gill Huff Ranch, located at the base of Teton Pass, listed for $8.9 million.

Real Estate Transactions

$34,116,499

Total Sales Volume

134

Average Days on Market

$1,440,000

MEDIAN SALES PRICE

62%

Single Family Home Sales

58%

of property sales over $1M

1

TRANSACTIONS UNDER $500,000

Thinking of Selling?

Given the recent economic disruptions of the coronavirus, is now the right time to sell? More inventory is entering the market, but certain segments still lack options for buyers. Are local buyers ready to make a move right now? What about out of town buyers looking to escape to Jackson Hole - what properties are they most interested in right now? The answers may not be entirely clear yet. As we navigate into the busy Jackson Hole summer, every seller situation will be unique and each market segment will react differently. I'm here to help you in this unprecedented time. Please reach out for an informal discussion; let's chat about the market and how it affects your property's value.
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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