Jackson Hole Real Estate Market – 2018: Q1 in Review

New Listings – What’s New?

$1,781,873

AvERAGE LIST PRICE

NEW LISTINGS

$174,002,500

LIST PRICE Volume

Market Analysis

The number of new listings hitting the market in first quarter of 2018 is up slightly when compared to last year, thanks to an usually busy January 2018, where nearly 40 new listings hit the market (vs. 21 in Jan 2017). However, the overall dollar volume of these new listings is down slightly in Q1 2018. As a result, the average listing price for the first quarter is down 15%, from $2.092 million to $1.78 million. The decrease was helped by the strong Jan 2017 (which saw an average listing price of $3.3m) and a somewhat weaker March 2018 (which saw an average listing price of $1.2m).

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Contact Katie for access to more market stats and analysis.

We are officially entering the “busy listing season” of April/May/June, so it will be interesting to see how much new inventory hits the market (and at what price points). Stay tuned….

Transactions/Sales Volume – What Sold?

$1,272,155

Average Sales PRICE

TRANSACTIONS

$132,681,658

Total Sales Volume

Market Analysis

Sales transactions are up nearly 40% in Q1 2018 (vs. this time last year). February 2018 in particular was a very busy month, with 45 sales (vs. only 25 sales in Feb 2017). Sales Volume, however is down 8% in the first quarter of this year. Much of this decline can be attributed to the usually high sales volume of January 2017, where nearly $90 million in property sales occurred (compare that to Jan 2018 where we saw only half that volume).

Want to know more?

Contact Katie for access to more market stats and analysis.
Note: All statistics are pulled from Teton Board of Realtors Multiple Listing Service for residential sales/listings in Teton County, WY for the dates specified above. It is estimated that sales outside of MLS account for an additional 10-20% of transactions/volume. Contact Katie for more details.