Jackson Hole Real Estate Market Report | 2019 Year-End

I am pleased to present the 2019 Year-End Market Report for the Jackson Hole area. Assembled from Jackson Hole Real Estate Associates’ proprietary database, the most extensive source of information about the region’s real estate market, and insight from our dedicated team of professionals, the report provides valuable insight into the market segments that make up the Jackson Hole area.

After the banner year of 2018, the overall housing statistics for the Jackson Hole market show a modest cooling off. Using our proprietary data base accounting for sales that were not reported through the Teton County MLS. The total dollar volume dipped 10% and the number of transactions declined by 4%. (To learn more about our database see our full report here.) The average sales price declined 6% to $1,850,190 but the median price increased by 8% to $1,075,000.

The story about inventory: Overall, in Teton County the inventory remains fairly level 2019 vs 2018. Single family home inventory is up 19%, pending listings are up 4%. Days on market is down 7% showing continued growth. The condo/townhome inventory is down 12%. This category is also seeing a shorter time on market, as the demand in this category rises. Pending sales for condos is up a whopping 75%.

Once again Jackson Hole Real Estate Associates is proud to report that while overall sales volume in Teton County dropped 10%, our sales volume grew 12%. This increase indicates JHREA’s growing market share as our team proudly represented the most buyers and sellers of any brokerage in the region in 2019.

We are heading into 2020 with a 40% increase in pending listings indicating a strong start to the year.

Jackson Hole Real Estate Associates exclusively owns and maintains the valley’s oldest and most comprehensive database. Our market report, unlike others in the area, is derived from this proprietary, forty-year old database (not just MLS data) and draws on our brokerage’s decades of success, making it the most trusted and accurate real estate report in the region.

For more information, or to learn more about specific market details, contact Bomber.

Winter 2020 Property and Lifestyle Catalog

Jackson Hole Real Estate Associates is pleased to present Experience Jackson Hole: The Catalog of Fine Properties and Lifestyles for Winter-Spring 2019/2020. Inside you will find a selection of exceptional properties from across the region, as well as a look at the way of life unique to Jackson Hole and the Greater Grand Teton area.

jackson hole real estate market report

Jackson Hole Real Estate Market Report | 2019 Quarter 3

I am pleased to present the 2019 Quarter 3 Market Report for the Jackson Hole area. Assembled from Jackson Hole Real Estate Associates’ proprietary database, the most extensive source of information about the region’s real estate market, and insight from our dedicated team of professionals, the report provides valuable insight into the market segments that make up the Jackson Hole area.

The Jackson Hole market in continues to show stability particularly in the single family home segment. At the end of the third quarter of 2019, despite a 20% drop in number of homes sold, the average sale price increased 13% year-over-year. During the same period in 2018, the average sale price gained 7% indicating a sustained period of steady, consistent growth. The median price also grew by 17% indicating that the higher-end sector was more active. Once again, the market at the mid to low end of the price spectrum is negatively impacted by the lack of inventory. This lack of inventory also impacted the $2-5M range. Nationally, prices grew at a relatively flat 4%.

The overall year-over-year housing statistics for the greater Jackson Hole market continue to show a modest cooling off vs. the banner year of 2018. Using our proprietary database accounting for sales that were not reported through the Teton County MLS, the total dollar volume dipped 10% over prior year through the end of quarter 3. This is an improvement over mid-year numbers where total sales volume dipped 16%.

Jackson Hole Real Estate Associates exclusively owns and maintains the valley’s oldest and most comprehensive database. Our market report, unlike others in the area, is derived from this proprietary, forty-year old database (not just MLS data) and draws on our brokerage’s decades of success, making it the most trusted and accurate real estate report in the region.

For more information, or to learn more about specific market details, contact Bomber.

Jackson Hole Real Estate Market Report | 2019 Mid-Year

I am pleased to present the 2019 Mid-Year Market Report for the Jackson Hole area. Following an impressive first quarter, real estate sales throughout Jackson Hole cooled off in the second quarter, which caused the cumulative sales volume to finish the first half of the year below 2018 levels. It’s worth noting, however, that the dip owes partly to an impressive performance in 2018, rather than a lackluster second quarter this year.

The Jackson Hole real estate market started off strong in 2019, with total dollar volume up 39 percent at the end of the first quarter compared to Q1 2018. Activity then fell in the second quarter, which caused the mid-year dollar volume and number of transactions to decline 16 percent and 13 percent, respectively.

Last year, by contrast, year-over-year sales volume was down through the first quarter, but the market rallied in the second quarter to put mid-year sales up 33 percent compared to the year prior.

While the overall sales volume was down in Teton County, Jackson Hole Real Estate Associates’ sales volume grew more than 6 percent through the mid-year point. Once again, our team proudly represented the most buyers and sellers of any brokerage in the region.

Following trends over the past several quarters, overall average and median sale prices increased four percent and five percent, respectively. Inventory continued to tighten, down two percent compared to mid-year 2018, however, the average days on market increased modestly, up five percent compared to the same period a year earlier.

Most property sales in 2019 have been in the $1 million to $2 million range. Condos and townhomes stole some market share from the single-family segment, accounting for 42 percent of transactions in the first half of the year. The near sell-out of the Virginian Village condominium units (which were listed by Jackson Hole Real Estate Associates) helped drive up sales under $500,000 by 38 percent.

Jackson Hole Real Estate Associates exclusively owns and maintains the valley’s oldest and most comprehensive database. Our market report, unlike others in the area, is derived from this proprietary, forty-year old database (not just MLS data) and draws on our brokerage’s decades of success, making it the most trusted and accurate real estate report in the region.

For more information, or to learn more about specific market details, contact Bomber.

Summer 2019 Property and Lifestyle Catalog

Jackson Hole Real Estate Associates is pleased to present Experience Jackson Hole: The Catalog of Fine Properties and Lifestyle for Summer 2019. Inside you will find a collection of exceptional properties, as well as a look at the people, organizations and lifestyles unique to Jackson Hole and the Teton Region.

Jackson Hole Real Estate Market Report | 2019 Quarter 1

The Jackson Hole real estate market is off to a strong start through the first quarter of 2019, buoyed by continued demand for high-dollar properties. A jump in luxury property sales significantly pushed up the overall average and median sales prices, including one notable property listed above $17 million, even though the number of transactions fell compared to the first quarter of 2018.

The number of sales recorded fell 11% in the first quarter compared to the same period a year earlier, but the average sale price increased 79%. That jump was driven primarily by transactions between $2 – $5 million, which jumped 71%, and sales above $5 million, which grew 83%, compared to the first quarter of 2018. Sales in the luxury market (above $3 million) grew 33 percent. The acceleration on the upper end of the market skews the overall average and median sale prices, which emphasizes the need to consider each segment independently.

Single-family homes made up the lion’s share of transactions, 44%, followed closely by condominiums and townhomes, which accounted for 40%. Overall, inventory dropped again, down 10% from the first quarter of 2018. Properties are also continuing to sell faster, with the average time on market down to 176 days.

Inventory fell 10 percent compared to the first quarter of 2018, continuing a trend of tightening supply in the Jackson Hole market. There were 126 transactions recorded in the first quarter of 2019, which marks an 11 percent decline from a year earlier.

Jackson Hole Real Estate Associates exclusively owns and maintains the valley’s oldest and most comprehensive database. Our market report, unlike others in the area, is derived from this proprietary, forty-year old database (not just MLS data) and draws on our brokerage’s decades of success, making it the most trusted and accurate real estate report in the region.

For more information, or to learn more about specific market details, contact Bomber.

Jackson Hole Real Estate Market Report | Year End 2018

Jackson Hole Real Estate Associates, the region’s largest and most dynamic real estate company, is proud to present our comprehensive Market Report for the year end of 2018. Assembled from Jackson Hole Real Estate Associates’ proprietary database, the most extensive source of information about the region’s real estate market, and insight from our dedicated team of professionals, the report provides valuable insight into the market segments that make up the Jackson Hole area.

 

Winter Property and Lifestyle Catalog

Jackson Hole Real Estate Associates is pleased to present the Catalog of Fine Properties and Lifestyle for the Winter and Spring, 2018 – 2019. Inside you will find a collection of the region’s premiere homes and properties, as well as a look at the people, organizations and culture that make this area so remarkable.

Jackson Hole Real Estate Market Report | Quarter 3 2018

Jackson Hole’s real estate market remains on a strong path through the third quarter, with 12 percent more sales and a 13 percent increase in median sale price compared to the same period last year. Rising prices have caused supply of properties under $500,000 to dwindle, which is apparent in the 21 percent decline in transactions below that price point.

The most sales took place in the $500,000 to $1 million segment, which accounts for more than one-third of sales this year. The $2 million to $5 million segment notched the largest gain in transactions, up 83 percent compared to a year ago.

The Town of Jackson continues to lead the area by far in sales volume. Even so, overall, inventory fell again, down nearly 20 percent, which contributed to a 16 percent decrease in the average property’s days-on-market.

Jackson Hole Real Estate Market Report | Mid Year 2018

 

On behalf of our team of dedicated professionals at Jackson Hole Real Estate Associates, we are pleased to present our comprehensive market report for the mid-year 2018. In this detailed report, you will find information on the market segments making up the Jackson Hole area. As the market leader in Jackson Hole, we have developed a more dynamic report that sheds fresh light on the insights and trends that are shaping our real estate market.

Jackson Hole’s real estate market started very strong in the first half of 2018 with number of transactions up 11% and average sale price up 10%. Even more important to note was the increase in median sale price, a more accurate indicator, up 22% from a year ago. The majority of transactions were in the $500,000 – $1 million price segment, however, there was a sharp increase in transactions over $5 million, up 77%. This sharp increase drove total dollar volume up by 33% compared to a year ago. The single family home segment was the most popular among buyers achieving 41% of the mid-year market share. Inventory continued to decrease as did well-priced new inventory, which was a contributor to the 23% decrease in active listings and 13% decrease in average days on market.