2021: January Sales in Jackson Hole

What happened in January?

What Sold

After an unforgettable 2020, the first month of the New Year saw a decline in both real estate sales and dollar volume. Transactions were down 43% from December and marked the first time monthly sales dipped below 40 since June 2020, which was a slow month due to the COVID shut down in March and April. While January (and winter) is typically a slower month of the year, there were 4 fewer sales this past month than in January 2020. Total dollar volume was down nearly 50% from December, with just under $100,000,000 in January sales. Again, the first time we've seen dollar volume below $100 million since June 2020. Compared to last January 2020, sales volume was up slightly ($5 million), despite seeing 4 fewer sales. The decline in sales and volume is not an indication of a slowing market - quite the contrary, with demand for Jackson Hole properties far outweighing the available inventory levels (see below). The average sales price dipped in January, but was above $2.5 million for the 9th month in a row. The median sales price held steady at $1.65 million, nearly $400,000 higher than in January 2020. Demand for Jackson Hole properties remains very strong, with January sales closing, on average, at 97% of list price. Ten sales were at or above the listing prices in January, as more buyers seem to be circling than there are available listings. Single family homes accounted for just over half of all sales in January, a trend we've seen carry through from the second half of 2020. After 5 months of higher than usual land sales, that saw an average of 18 sales a month, vacant lot transactions dropped off in January, with only 5 sales. While nearly 3 out of every 4 sales in January occurred over $1 million, sales over $3 million declined with only 8 sales in January (after an average of 25 per month since July 2020).

Real Estate Transactions

$95,111,162

Total Sales Volume

138

Average Days on Market

$1,649,217

MEDIAN SALES PRICE

51%

Single Family Home Sales

73%

of property sales over $1M

8

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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