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 | Q3 2017

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 third quarter of 2017. 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 Real Estate Market Report | Midyear 2017


When comparing the first half of 2017 to the first half of 2016, the overall number of transactions increased 10%. The area furthest south of Jackson experienced the largest increase in transactions, up about 1200%. The Town of Jackson continued in popularity garnering the most transactions of any area in the valley with 115 transactions. The price segment with the most market share was the $500,000 – $1 million price segment, 40% of the transactions. Approximately 40% of the transactions in the first half of 2017 were cash transactions.

The lack of inventory continued to be a significant issue in the Jackson Hole real estate market. As of mid-year 2017, there were 12% fewer listings when compared to this time last year. The inventory shortage was a contributing factor in increased sale prices, average sale price was up about 5%.

Vacant Land Q1 2017

Single-family vacant land sales have reversed course with 23 sales in Q1 2017 (up 64%). Meanwhile, average and median sale prices were down 37% and 15% respectively when compared to Q1 2016. The decrease in average and median sale prices can be directly attributed to the increase in the number of vacant land sales under $1 million (up 157%). NOTE: In 2005 and 2006 there were two times the number of sales in the first quarter, and yet the same number of available listings at the end of the first quarter. The hot spot for vacant land sales was the Westbank, where 48% of the sales occurred.

Who is buying vacant land today? While 61% of these buyers have local addresses, the majority are still second homeowners and retiring baby boomers. Most have either exhausted their search of existing home inventory and decided to build their dream home, or purchased an adjoining lot for privacy and/or view protection. Of course, this continues to be great news for our local construction industry. NOTE: To date in 2017, 61% of all residential vacant land purchases were also cash.

Single-family vacant lots under contract are showing signs of continued improvement with 14 properties currently under contract (up 75%). Of these, 21% are listed for under $500,000 and 7 are listed for under $1 million.

Available inventory of lots for sale are down 6% from Q1 2016, yet the average and median list prices are unchanged. This indicates that listing prices for single-family residential vacant land have stabilized. NOTE: Even though supply will continue to outpace demand, expect to see some appreciation in this segment in 2017. Based on year-end 2016 results, there are currently 19 months of available single-family vacant land inventory.


This information was derived from the Hole Report, the full report can be found here: http://jacksonholerealestatereport.com/2017-first-quarter-report/

Melody Ranch Home: $829,900 4Br/3Ba, 2581 SqFt

One of the few actively listed properties in the Melody Ranch subdivision, this South Valley four bedroom single-family house features outstanding views of Glory Bowl. The improvement has been very well maintained inside and out, has an open floor plan, great sunlight, and the master is on the first floor –much of which you can see yourself in this short video.

In addition to this short 40 second clip, you can also view an image gallery showing this home’s open kitchen, appliances, bedrooms and well-maintained landscaped lot below.

Thayne, WY 83127
MLS# 17-1641

Property Description
Own your own Mountain! This pristine parcel of land sits one mile south of Thayne on the east side of the road. The property is under virgin forest and has 185 acres lease adjacent to the east boundary line featuring rolling hills and forest. Perfect for hiking and grazing of horses or cattle. The property is not to steep and has a partial four tract road that could be upgraded that already exists. This mountain property is located just five minutes from the public fishing access to the Salt River.

Listing Information
Current Price: $499,000
Listing Price: 499000
Status: Active
Location, Legal & Taxes
Number: TBD
Street: HWY 89
County: Lincoln
State: WY
Zip Code: 83127
Area: 11 - Star Valley/Lincoln County, WY
Subdivision: None
Property Features

Listing Office: RE/MAX Valley 1 Realty

Last Updated: December - 13 - 2018

DISCLAIMER: Information provided through the Teton IDX Program is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties and individual consumers interested in purchasing. Properties displayed through the Teton IDX Program may be selected by and displayed by an IDX participant, who may not necessarily be the listing agent. Any information contained herein is deemed reliable, but not guaranteed and the Teton MLS is not responsible or liable for the information.

Friday 14th of December 2018 06:20 AM