The Mid-Year 2023 Market Report is In!
The post pandemic era is unfolding, and while we are seeing some substantial decreases across the overall market, Jackson Hole is still experiencing record highs. There were 59 transactions in the single family home segment, representing a 37% decrease compared to the previous period. However, despite the decrease in transactions, inventory levels saw a significant increase of 33%, providing far more options for buyers. The median price for homes sold in Jackson Hole was $3.3 million, showing a slight 1% decrease from the previous quarter.
In the luxury real estate market, the total dollar volume for properties priced at $5 million and above reached $342.5 million, showing a robust 15% increase from the previous quarter. The median sale price experienced a 17% increase, reaching $7.5 million, and a 10% increase in active listings, suggesting a growing inventory of high end properties.
While the Jackson Hole real estate market has seen a decrease in overall transactions (down 32%) and a decline in total dollar volume (down 39%), specific property types have shown unique trends and opportunities for buyers, with increased inventory, shifts in median prices, and
potential longer days on the market.
Although general trends are decreases quarter over quarter, the market is still dynamic as ever. Jumps in volume from April to May highlight the significance of the ever changing market and having a qualified, in-the-know team in your corner to help you navigate inevitable market adjustments in real time is as important as ever. Curious how this report affects your home value or buying opportunities? As the #1 team at Compass Jackson Hole, we are happy to lend more insight and advice—reach out to [email protected] today.
