2021: February Sales in Jackson Hole

What SOLD in February?

$138M

Total Sales Volume

Real Estate Transactions

Market Analysis

After a slow start to 2021, monthly sales picked up in February, recording 9 more sales than January. While February's 46 sales may not seem like much compared to the busy months of 2020 (where close to 100 properties sold in every month in Aug/Sept/Oct), there were 20 more sales in Feb 2021 than in Feb 2020 and Feb 2019. February dollar volume was also much higher with $138 million in sales - more than February 2020 and February 2019 COMBINED. At least 3 out of every 4 sales were over $1,000,000 in February, with 14 sales over $3 million, accounting for 30% of all monthly sales. As a result, the average sale price topped $3 million for only the second time since the pandemic's real estate boom hit Jackson Hole. The median sale price was also up topping $2 million for the second time in the past 6 months.

While the average days on market for February was 130 days, the reality was properties were selling very quickly and very close to the asking price. Nearly half of all sales in February or at or above the listing prices, resulting in an average sale to list price ratio of 99% - the first time since I started keeping stats in 2013. Vacant land sales accounted for nearly a third of all February sales - by far the highest monthly representation since I began tracking stats. The spike in lot purchases is a telltale sign of extremely low inventory levels. When buyers can't find what they want already built, they resort to purchasing land and building their own home. As a result, Teton County's land inventory is the lowest it's ever been.

30%

Land Sales

$2,137,500

MEDIAN SALES PRICE

76%

of property sales over $1M

14

TRANSACTIONS OVER $3M

Thinking of Selling?

Demand for Jackson Hole real estate remains extremely high, with interest from out of town buyers and locals alike. Pair that with record low inventory levels, and Jackson Hole sellers are in a very strong position. Please reach out to discuss your opportunities as a seller in this unprecedented real estate 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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