I am pleased to present our comprehensive market report for Year End 2020. 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.
The popularity of living in Jackson Hole has never been greater. The trend that started in the second quarter of 2020, the exodus from cities to locations with open space and safety, ramped up substantially pushing demand for local real estate to new heights. By the end of the third quarter of 2020, the Jackson Hole real estate market closed over $1.5B of residential transactions, more than the entire year in 2019. And it didn’t stop there.
According to data collected from the Teton County Multiple List Service (MLS) along with proprietary off-market data (transactions that were not disclosed in the MLS), the overall Total Sales Volume for 2020 increased an incredible 90% to over $2.3B. In addition, Total Transactions increased 27% Year-Over-Year 2020 vs 2019.
The overall average sales price for real estate in Teton County jumped 50% to $2.8M Year-Over-Year 2020 vs 2019. In the Single-Family-Home category, the average sales price rocked to $3.7M, pushed by an explosion in the Luxury Segment of the market (listings trading at $3M mark and higher). The single family home segment and land segment drove the 2020 market uptick with an increase in total sales volume of 127% and 133% respectively.
For more information, or to learn more about specific market details, contact Bomber.