The Colbert Real Estate Report

Monthly Market Update for January 2018

Jackson Hole, WY

What’s new in Dec 2017? (New Listing Analysis)

• 33 :: Total New Listings
  • New Listing Volume: $76,462,000
  • Average List Price: $2,317,000
• 28 :: New Residential Properties (single family, townhome, condo)
  • Average List Price: $2,055,000
  • Median List Price: $1,225,000
  • New listings priced under $1 million :: 11  (39%)
  • New listings priced under $500,000 :: 2 (7%)
  • New listings already under contract or sold: 12 (43%)
• 5 :: New Building Sites
  • Average List Price: $3,780,000
  • Median List Price: $2,500,000
  • New listings priced under $1 million :: 1 (20%)
  • New listings priced under $500,000 :: 0 (0%)
  • New listings already under contract or sold: 3 (60%)

What it means: After a predictably slow November, new listings ticked up in December as 33 properties hit the market last month. Along with an increase to sales volume, the average listing price also increased for the second month in a row and reached over $2.3 million for the first time since June 2017. Six new listings hit the market priced in excess of $3 million, including two homes in Teton Village and two homes on the Westbank. Five new lot listings hit the market, including one of the last true ski-in, ski-out vacant lots at the base of Jackson Hole Mountain Resort. The most telling statistic this month, is that nearly 50% of the new December listings are already under contract or sold (by Jan 10th). With inventory being so tight, buyers are ready to move quickly on well priced and/or high demand properties. Some of the listings that have gone under contract quickly include: several condos and condo hotels in Teton Village, a higher end penthouse condo in downtown, and a single family home in Wilson priced under $750,000.

**During times of low inventory and high demand (i.e. the current state of our market), many properties aren’t even hitting the open MLS market before selling. If you have a specific property type/location/price in mind, please contact me so that I can be on the look out for off-market or soon-to-be-listed properties for you. 

Notable new listings in December include:

• Newly updated log cabin home in Hoback – $575,000
• Three bedroom townhome with private backyard in Cottonwood Park – $629,000
• Newly built contemporary home in the Town of Jackson – $1,699,750

Click HERE to view all Dec residential listings.

Click HERE to view all Dec land listings.

(Note: Links above are good for one month after report is published.)

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