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.
For more information visit www.jacksonholereport.com
Q3 2023
Is the Local Real Estate Market Cooling?
The answer is a definitive “YES,” but the situation is nuanced. To begin with, comparing the first nine months of 2023 to the same period in 2022 reveals a 22% decline in overall sales, a 29% drop in dollar volume, and a 24% increase in available inventory. However, this isn’t a straightforward case of supply versus demand. While inventory has increased by 66% since the end of the COVID era, it’s important to note that we are still at historically low levels. For perspective, between 2010 and 2019, the average number of active listings at the end of Q3 was 517, compared to the current 259—a 50% decrease.
NUMBER OF SALES
The overall number of sales (255) and dollar volume ($1.013 billion) decreased 22% and 29%, respectively. Following suit, the average sale price decreased 8%, and the median sale price decreased 9% for the first nine months of 2023.
SINGLE-FAMILY HOME AVERAGE PRICE
Single-family home sales are down 11% when compared to the first nine months of 2022. In contrast, the average sale price is up 10%, shattering yet another record at $5.2 million. Over half of the activity (60%) was in the $3+ million segment (77 sales).
ACTIVE LISTINGS VALLEY WIDE
Overall inventory of active listings has increased by 24% with 259 listings. Following suit, the average listing price is up 4% ($6.56 million), breaking yet another record for the first nine months of the year.
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
