Budge Realty Group is proud to present our comprehensive Market Report for Mid Year 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.
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%.