What happened in October?
What Sold
Real Estate Transactions

$287,205,637
Total Sales Volume

159
Average Days on Market

$1,535,000
MEDIAN SALES PRICE

48%
Single Family Home Sales

64%
of property sales over $1M

33
TRANSACTIONS OVER $3M

Thinking of Selling?
Early concerns that the coronavirus would slow down the Jackson Hole real estate have not come to fruition. In fact the opposite has occurred with out of town buyers flooding the real estate market seeking an "escape" from city life. We are seeing properties sell more quickly and for higher prices as a result. Sellers have a unique opportunity to take advantage of this unprecedented level of demand. Please reach out for an informal discussion; let's chat about the exploding Jackson Hole real estate market and how it affects your property's value.
New Listings
Despite the continued RED HOT SALES side of the market, new listings dropped off again this month, with just 41 new listings hitting the market. The gap continued to widen between the 98 sales transaction, and this month's new listings being less than half of that number. The dollar volume also dropped off, with just under $140M in new inventory, which is just about half the dollar volume that hit the market in September. The average list price of this new inventory also corrected itself somewhat, but still boasted a staggering $3.34M in average price, down almost $1M from September's $4.26M. The median list price significantly corrected itself, dropping to $1.95M after September's incredible $3M price point.
While we saw 36 new listings over $1M enter the market this month, there were no new listings in the under-$500,000 market. There were only 9 new building sites that hit the market which is the least we've seen per month since February of this year. With the amount of land transactions that have been listed and sold this year, it begs the question, how much is actually left to sell? The 23 single family homes that came on the market in October continue to be the dominant property type in highest demand so if you've ever considered selling, this certainly seems to be the right time to list!
New Listings

$138,836,500
New Listing Volume

9
Vacant Lot Listings

$3,386,256
Average List Price

$1,950,000
MEDIAN LIST PRICE

0
listings under $500,000

36
Listings over $1M
