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 third quarter. 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 Jackson Hole real estate market through the third quarter of this year continued the trends seen earlier in the year with a decrease in the number of transactions, down about 10%, compared to the third quarter of 2015. While the number of transactions were down, the average and median sale prices continued to rise with a 3% and 6% gain, respectively. The majority of transactions, about 37%, took place in the $500,000-$1,000,000 price range. Single family home transactions had the most growth this year, consisting of about 40% of all the transactions through the third quarter. This represented an approximate 16% increase compared to this time last year when the condominium/townhome segment was more prevalent.
The number of active listings dropped slightly this quarter, down about 6% compared to the third quarter of 2015. The persistent low supply will continue to be a contributing factor in the supply and demand in Jackson Hole’s real estate market.
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.