Budge Realty Group is proud to present our comprehensive Market Report for Year End 2019. Assembled from Jackson Hole Real Estate Associates’ proprietary database, the most extensive source of information about the region’s real estate market, and insight from our dedicated team of professionals, the report provides valuable insight into the market segments that make up the Jackson Hole area.
After the banner year of 2018, the overall housing statistics for the Jackson Hole market show a modest cooling off. Using our proprietary data base accounting for sales that were not reported through the Teton County MLS. The total dollar volume dipped 10% and the number of transactions declined by 4%. The average sales price declined 6% to $1,850,190 but the median price increased by 8% to $1,075,000.
The story about inventory:
Overall, in Teton County the inventory remains fairly level 2019 vs 2018. Single family home inventory is up 19%, pending listings are up 4%. Days on market is down 7% showing continued growth. The condo/townhome inventory is down 12%. This category is also seeing a shorter time on market, as the demand in this category rises. Pending sales for condos is up a whopping 75%.
Once again Jackson Hole Real Estate Associates is proud to report that while overall sales volume in Teton County dropped 10%, our sales volume grew 12%. This increase indicates JHREA’s growing market share as our team proudly represented the most buyers and sellers of any brokerage in the region in 2019.
We are heading into 2020 with a 40% increase in pending listings indicating a strong start to the year.