2021: January New Listings in Jackson Hole

What happened in January?

New Listings

After a very slow end to the year (with only 29 new listings in Dec 2020), 38 properties hit the market in January to kick off the New Year. January 2021 marks the first time since June 2020 that there were MORE listings than monthly sales (albeit only 1 more), ending a trend that saw at one point more than twice as many sales as monthly listings. As a result of the unprecedented sales levels in the second half of 2020, Jackson Hole inventory is the lowest I've ever seen it. There are currently only 69 residential properties for sale in all of Teton County, with only 12 under $1,000,000. Exacerbating this trend, 29 of January's 38 new listings were above $1 million, with 12 new listings over $3 million. The average list price of the properties entering the market in January was $3.6 million, actually a decline from December when the average list price pushed above $4 million. The median list price dipped below $2 million for the first time in the past 3 months. The majority (23) of new listings in January for were single family homes, including two homes in Teton Village above $10 million. Despite the winter weather, 7 new lot listings hit the market, including two lots in Jackson Hole Golf & Tennis (listed for $995,000 and $1,450,000) and a lot in Game Creek for $789,000, all of which have already sold or are under contract. In fact, of the 38 new listings in January, 25 are already under contract, further illustrating the fast pace of the market thanks to limited inventory and continued high levels of demand for Jackson Hole properties.

New Listings

$138,506,000

New Listing Volume

7

Vacant Lot Listings

$3.65M

Average List Price

$1.92M

MEDIAN LIST PRICE

2

listing under $500,000

29

Listings over $1M

Is now a good time to buy?

With limited inventory and many buyers circling, now more than ever, it's important to be ready to jump when the right opportunity arises. If you are looking to buy in this market, please connect with me so that we can make sure you are aware of new listings as soon as they hit the market. If I know what you are looking for, I can keep an eye out for off market 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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