The overall market trends continued in 2016. The average and median sale prices remained strong with a 3% and 2% gain, respectively. The decrease in number of transactions and increase in average and median sale prices can be attributed to the continued shortage of inventory, down about 13% when compared to 2015. Another indicator was the decrease in average days on the market; properties sold 10% faster in 2016 than they did in 2015. The number of transactions in 2016 decreased when compared to 2015, with about 13% fewer transactions. Transactions in the under $500,000 price segment were sporadic with about 31% fewer transactions. The majority of transactions took place in the $500,000-$1 million price segment.
The number of active listings dropped in 2016, down 13% compared to 2015. Low inventory continued to be a factor in the supply and demand of Jackson Hole’s real estate market.
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