Jackson Hole Market Report
Third Quarter 2019
Jackson Hole Real Estate Associates is pleased to present the Third Quarter Market Report for the Jackson Hole area. Derived from our proprietary, forty-year old database (not just MLS data) and our team’s decades of combined experience, Jackson Hole Real Estate Associates’ Market Report is the most trusted and accurate real estate report in the region.
The greater Jackson Hole market in general continues to show stability in single family homes. At the end of the third quarter of 2019, despite an 20% drop in number of homes sold the average sale price rose 13% year over year. During the same period in 2018, the average sales price gained 7% over prior year 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 Q3. This is an improvement over mid-year numbers where total sales volume dipped 16%.