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2019 Quarter 1 Jackson Hole Market Report

April 13, 2019

The Jackson Hole real estate market is off to a strong start through the first quarter of 2019, buoyed by continued demand for high-dollar properties. A jump in luxury property sales significantly pushed up the overall average and median sales prices, including one notable property listed above $17 million, even though the number of transactions fell compared to the first quarter of 2018. 

The number of sales recorded fell 11% in the first quarter compared to the same period a year earlier, but the average sale price increased 79%. That jump was driven primarily by transactions between $2 – $5 million, which jumped 71%, and sales above $5 million, which grew 83%, compared to the first quarter of 2018. Sales in the luxury market (above $3 million) grew 33 percent. The acceleration on the upper end of the market skews the overall average and median sale prices, which emphasizes the need to consider each segment independently.

Single-family homes made up the lion’s share of transactions, 44%, followed closely by condominiums and townhomes, which accounted for 40%. Overall, inventory dropped again, down 10% from the first quarter of 2018. Properties are also continuing to sell faster, with the average time on market down to 176 days.

Inventory fell 10 percent compared to the first quarter of 2018, continuing a trend of tightening supply in the Jackson Hole market. There were 126 transactions recorded in the first quarter of 2019, which marks an 11 percent decline from a year earlier. 

Jackson Hole Real Estate Associates exclusively owns and maintains the valley’s oldest and most comprehensive database. Our Market Report, unlike others in the area, is derived from this proprietary, forty-year old database (not just MLS data) and draws on our brokerage’s decades of success, making it the most trusted and accurate real estate report in the region. 

For more information, or to learn more about specific market details, please contact us. 

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https://grahamfaupelmendenhall.com/wp-content/uploads/2019/04/Screen-Shot-2019-04-13-at-11.17.37-AM.png 1614 2092 Jessica Sheehy https://grahamfaupelmendenhall.com/wp-content/uploads/2021/11/GrahamFaupelMendenhall_Black.png Jessica Sheehy2019-04-13 12:36:442019-04-15 10:27:322019 Quarter 1 Jackson Hole Market Report

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Our Team

Karen Terra

Founding Partner, Associate Broker
(307) 690-8186
karen.terra@compass.com

Matt Faupel

Founding Partner, Associate Broker
(307) 690-0204
matt.faupel@compass.com

Julie Faupel

Founding Partner, Associate Broker
(307) 690-0812
julie.faupel@compass.com

Mack Mendenhall

Founding Partner, Associate Broker, GRI
(307) 690-0235
mack.mendenhall@compass.com

Emily Eldredge

Associate Broker
(307) 732-7476
emily.eldredge@compass.com

Tess Hartnett

Sales Associate
Contract Coordinator
(541) 385-2410
tess.hartnett@compass.com

Allie Detwiler

Marketing Manager
(307) 249-3030
allie.detwiler@compass.com

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