OUR TEAM
We understand that real estate is about relationships – the ties forged between people and place. Our decades-deep knowledge of the valley combined with Engel & Völkers makes us your Local Real Estate Experts.
JACKSON HOLE REPORT
The Jackson Hole Real Estate Report Podcast, sponsored by the Viehman Group, is your local guide to everything real estate in Jackson Hole, WY. Featuring extensive data collected from our Jackson Hole Real Estate Report including interesting, local insight that affects the market. We invite you to listen in and get a new perspective on buying and selling under the Tetons.
To read the full report, visit www.jacksonholereport.com
Q2 2023
INVENTORY IS ON THE RISE, AND SO ARE PRICES
While the overall number of sales is down 32%, inventory levels across the board are on the rise. Overall inventory is up 34% with single-family home inventory up 13%, townhome/condo inventory up 44%, and residential vacant lot inventory up 76%. Normally, rising inventory puts pressure on Sellers to lower their prices, but not in 2023. The average and median sale prices for homes, townhome/condos, and residential vacant lots are all up and all breaking records for the end of Q2. While 22% of the current listings on the market have reduced their list prices since inception, Buyers are still willing to pay more than last year due to the lack of inventory.
NUMBER OF SALES
When compared to the first six months of 2022, the overall market continues to decrease with 32% fewer sales and 34% lower dollar volume. In contrast, the median sale price is up 6% (record breaking). The segment where the number of sales decreased the most was residential vacant lots, down 30% when compared to Q2 2022.
SINGLE-FAMILY HOME AVERAGE PRICE
Demand for single-family homes decreased 22% with 75 sales so far in 2023. In contrast, the average and median sale prices are up 20% and 12%, respectively. Both setting records for mid-year, the average sale price was $5.62 million, and the median sale price was $3.345 million.
ACTIVE LISTINGS VALLEY WIDE
Overall inventory of active listings increased 34% when compared to Q2 2022, marking the third lowest number of overall active listings in over 50 years at mid-year. Single-family homes increased 13%, condo/townhomes went up 44%, and vacant residential lots went up the most at 76%.
WE KNOW WYOMING
When it comes to Jackson Hole, our standards are high and uncompromising. Engel & Völkers has a long and very personal experience with Jackson Hole real estate. After all, we live and work here, and we are happy to share our love and knowledge of this magnificent area with you. For Jackson Hole truly has it all: romantic cabins in the woods, working cattle ranches, grand lodges on hundreds of open acres, even golf course homes with club amenities just steps away. Somewhere in Jackson Hole is a property that will capture your heart. Together, we’ll find it.
Post Office Box 2431
70 King Street
Jackson, WY 83001
(855) 722-2023 Fax
Associate Broker
307.690.4004
david@jacksonholereport.com
Associate Broker
307.690.0621
devon@jacksonholereport.com
Associate Broker
307.699.5921
luke@jacksonholereport.com
Sales Associate
307.690.1614
josie@jacksonholereport.com
