When compared to 2015, the number of sales dipped 8%, and the dollar volume dropped 15%. Bucking the trend, the median sale price rose 11%. Why? Supply and demand! This segment was the first segment to rebound after the recession, especially under $500,000. Consider 2013: 137 condo/townhomes sold for under $500,000 versus 77 in 2016. Today, there are only 13 units currently available for under $500,000 (1 under $300K). NOTE: The sub-$500,000 segment accounted for 36% of all condo sales activity in 2016.
Condo/townhouse hot spot: JH Racquet Club/The Aspens boasted the highest increase in the number of condo sales in 2016, up 36%. Following suit, the average sale price rose to $553,196 (up 4%) and the median sale price was $550,000 (up 11%).
This information came from the Hole Report, found here: http://jacksonholerealestatereport.com/