Real Estate Industry Adjusting to

Handle COVID-19

Open houses have been suspended and replaced with virtual or video-chat tours with the listing agent. There are no more driving tours in the Realtor’s car. Instead, we meet at the property, or the buyer can follow us to showings. If the home is occupied, either by the owner or tenant, the occupants leave the house during the showing, and we bring foot booties, gloves and mask to minimize our visit. It’s worth noting that 68% of all current listings are either vacant land or second home (non-occupied this time of year). This allows us to show two-thirds of the active listings and still practice physical distancing. Our weekly office meetings are also being held virtually via video conferencing.

According to the National Association of Realtors, 98% of all Buyers start their search online. Virtual tours recently helped sell one of our listings in Teton Village. The Buyer never stepped foot on the property before closing.  And, with video chat, we were recently able to (in just four days) secure a contract to purchase a new listing in the Town of Jackson. We are also seeing a huge uptick in website traffic, indicating Buyers are still looking. In fact, our new Town of Jackson listing had over 1,200 unique views before it went under contract. The key is to provide as much information on-line as possible (professional photos, virtual tours, aerial and plat maps, etc.)

Jackson Hole’s Current Market – In the full report, we have provided a look at the first quarter of 2020. And, we also took a quick look at just the month of March when COVID-19 started creeping into our lives compared to the month of March in 2019.

Uncharted territory – We are all living in uncertain times, and there is no way to predict what the immediate future will bring. What we can guarantee is timely and accurate real estate data and commentary as we navigate our way through this crisis. To discuss our current market further, or just to say hi, please call us at (307) 690-4004 or email david@jacksonholereport.com

It is very important that we all do our part to distance ourselves from others until we turn the corner on this crisis. Our community is counting on you!

Our complete 1st & 3rd quarter reports are not posted on this website, but instead are only available by email.  To receive the rest of this first quarter report, and sign up for all four quarterly reports via email please sign up here.

*While other local Real Estate Brokerages attempt to report on the local real estate market, we are the only Realtors who track every single transaction.  Therefore, if you want the most accurate information to help guide you through your next real estate transaction, call us 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 2019 compared to sales in 2020.
*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.
*The word “Overall” in this newsletter refers to all sales in Teton County combined (homes, lots, condos, commercial and ranch).
*Alta, Wyoming is not included in this report.
*The term “Market Value” means; the value of a property in terms of what it can be sold for on the open market; current value.

© Copyright 1995 – 2020 by David Viehman and Devon Viehman, dba Engel & Volkers Jackson Hole. 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 Viehman.