Condo/townhome sales across the valley continue to burn, with 119 sales so far in 2018 (up 13%). Following suit, the average and median sale prices increased 8% and 7% respectively, when compared to 2017. Fueling these increases is the lack of available inventory, down 19%.

The number of sales under $300,000 is almost completely out of fuel (down 82%), whereas the number of sales between $500,000 and $1 million is on the rise, up 23%.

  • The Town of Jackson has 1,453 free-market condos/townhomes. The second highest number of free market condos/townhomes is in Teton Village, with 682 deeds.
  • Currently there are 2,942 free-market condos/townhomes in Jackson Hole. They break down as follows: Westbank (1,147); Town of Jackson (1,453); North of the Gros Ventre River (92); South of Gros Ventre River to County line (250)—all free-market (not deed restricted or timeshare).
  • There are 144 luxury condos/townhomes worth at least $3 million throughout the valley. All are located in Teton Village, with the exception of one in the Town of Jackson.

The hot spot: Teton Village, where the number of sales is up 50% and creating bidding wars. The average days on the market is under 30.

The number of condos/townhouses under contract is on the rise with 43* properties currently in negotiations (up 8%), and an average list price of $2.78* million (up 20%). Fueling the increase is the luxury market ($3+ million) where 20 townhomes – all in Shooting Star – are under contract (up 18%).

Available inventory of condos/townhomes has seen a drop of 19% (52 listings). The average list price cooled to $1.07 million (down 20%), due to the decrease in listings over $2 million (down 42%). Based on mid-year results, current inventory offers less than three months of condo/townhome stock. NOTE: Of the current available inventory, 58% is listed for less than $1 million, and 21% under $500,000.

*While other local Real Estate Brokers attempt to report on the local real estate market, we are the only ones to track every single transaction. Therefore, if you want the most accurate information to help guide you through your next real estate transaction, please call Devon and David today.  “We are the Experts”.
*All statistics are supplied by sources that have been deemed reliable but are not guaranteed.
*All statistics quoted in this newsletter are based on sales in 2018 compared to sales in 2017.
*Median sale price is the cost of a property that has an equal number of sales above and below it on the price scale.
*Average sale price is the total combined dollar volume divided by the number of sales.
*In this report, “overall” refers to all sales in Teton County combined (homes, lots, condos, commercial, ranch), minus Alta, WY.
*The term “Market Value” means the value of property in terms of what it can be sold for on the open market; current value.

© Copyright 1995 – 2018 by David E. Viehman and Devon Viehman. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means without explicitly written permission from David E. Viehman.