On behalf of our team of dedicated professionals at Jackson Hole Real Estate Associates, we are pleased to present our comprehensive market report for the 2016 year-end. In this detailed report, you will find information on the market segments making up the Jackson Hole area. As the market leader in Jackson Hole, we have developed a more dynamic report that sheds fresh light on the insights and trends that are shaping our real estate market.
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. Click here to view full report.
Jackson Hole Real Estate Associates exclusively owns and maintains the valley’s oldest and most comprehensive database. The Jackson Hole Real Estate Associates’ Market Report, unlike others in the valley, is derived from the JHREA proprietary, forty year old database (not just mls data) as well as decades of history and success, making this the most trusted and accurate real estate report in the region. No other real estate company or agent has the resources available to offer this depth of expertise or insight regarding current or previous market conditions. The unmatched resources and knowledge of Jackson Hole Real Estate Associates, the largest and most dynamic real estate company in the region, combined with the largest global luxury real estate network, Christie’s International Real Estate, we are able to offer the ideal balance of local expertise and global reach. As the market leader in the Jackson Hole region, we believe the success of our company is based on the value that we provide for our clients, community and agents. Contact one of our real estate professionals for a market report in your specific area.