While it is not business as usual, Jackson Hole Real Estate Associates is open for business. We are leveraging remote technology to fully operate and ensure our clients are supported. We understand our clients continue to transact business for many reasons and during these unprecedented times tracking market conditions is critical.
The Teton County real estate market for Q1 2020 showed steady growth as Total Sales Volume increased by 29%, in a year-to-date comparison. The Average Sale Price for all properties in Teton County also grew by 25% and the number of transactions grew a modest 3%.
While Teton County and the Jackson Hole region will always struggle with a high demand for real estate and a lack of inventory, Q1 of 2020 reports an 8% increase in active listings over Q1 2019, offering an increase in selection for those ready to buy. However, with over 97% of Teton County permanently protected in national park, forest, BLM, and conservation lands, the scarcity of available land will remain in perpetuity.
Jackson Hole Real Estate Associates posted a record breaking first quarter in 2020 and the overall Teton County market was up nearly 30% in total dollar volume sold. Armed with the knowledge we gained in the first part of this year and the collective experience our team has navigating all market conditions we will continue to be a resource for you in these ever-changing times.
Although there are uncertainties ahead, the market’s strength over the past three months is a positive indicator that Teton County will still be a good place to buy and sell homes throughout 2020 and beyond.
To learn more about the Jackson Hole Quarter One Market Report or for more information specific to your area, please contact our dedicated team.