When compared to 2017, the number of sales and dollar volume were up 10% and 24% respectively. Following suit, the average and median sale prices were up 13% and 17% respectively. Of the 238 sales, 178 sold for under $1 million and 54 sold for under $500,000. With only 8 condos currently on the market for under $500,000, and a total of 28 for under $1 million, expect this segment of the condo market to increase in value in 2019.

NOTE: The $500,000 to $1 million segment accounted for 53% of all condo sales activity in 2018.

Condo/townhome hot spot: North of Jackson boasted the highest increase in the number of condo sales in 2018, up 125%. The area with the most activity was the Town of Jackson with 119 sales, down slightly when compared to 2017.

Condo/townhomes currently under contract: The number of condo/townhomes currently under contract decreased 30%, but the average list price is up 31% to $3.45 million. The increase in the average list price can be directly attributed to the decrease in listings under contract for less than $1 million, down 33%.

Current condo/townhome market inventory is up slightly when compared to the same period in 2017, with only 47 available units. While the average listing price is up slightly to $1.4 million, the median listing price decreased 7% to $830,000. Of the 47 condo/townhomes currently on the market, 8 are listed for under $500,000, 20 between $500,000 and $1 million, 11 between $1 million and $2 million and 8 between $3 million and $5 million.

Least expensive condo/townhome listing at year-end: $330,000, which buys you a 618 sq. ft. studio with 1-bath condo in the Snake River Lodge & Spa in Teton Village.

Most expensive condo/townhome listed in MLS at year-end: $5.495 million, which buys you a new 3,111 sq. ft. 3-bedroom, 3.5-bath townhome in Shooting Star (Teton Village).

Jackson Hole Mountain Resort (Teton Village): 62 sold (up 44%) with an average sale price of $1.915 mil- lion (down 11%) and a median sale price of $1,075,000 (down 26%). The decrease in the average and median sale prices were due to a larger number of sales under $1 million (up 81%) and a decrease in the number of Shooting Star townhome sales in 2018 (down 38%).

Jackson Hole Racquet Club/The Aspens: 29 sold (up 7%) with an average sale price of $605,534 (up 20%) and a median sale price of $543,500 (down 14%). The most expensive sale was $1,303,500 for a 2,110 sq. ft. townhome with 3 bedrooms and 3 baths, built in 1985 with a one-car detached garage.

Teton Pines: 5 condo sales (up 150%) with an average sale price of $1,658,000.

Town of Jackson: 119 units sold with an average sale price of $693,321 (up 22%) and a median sale price of $580,000 (up 12%). NOTE: The Town of Jackson claimed 50% of all condo sales in Jackson Hole.

Jackson Hole Golf & Tennis: 9 condos sold (up 125%) with an average sale price of $817,866 (up 16%).

Rafter J Ranch: 4 sold with an average sale price of $ 623,875. Total sales volume was $2,495,500.

Spring Creek Resort: 6 sold in 2018 with an aver- age sale price of $908,167 and a median sale price of $765,000.

*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.