When compared to 2018, the number of sales and dollar volume were up 8% and 6% respectively. Following suit, the median sale price was up 7%. Of the 256 sales, 186 sold for under $1 million and 73 sold for under $500,000. With only one condo currently on the market for under $500,000, and a total of 15 for under $1 million, expect this segment of the condo market to increase in value in 2020.

NOTE: The $500,000 to $1 million segment accounted for 44% of all condo sales activity in 2019.

Condo/townhome hot spot: Spring Creek Resort boasted the highest increase in the number of condo sales in 2019, up 83%. The area with the most activity was the Town of Jackson with 159 sales, up 34% when compared to 2018.

Condo/townhomes currently under contract: The number of condo/townhomes currently under contract increased 39%, but the average and median list prices are down 26% and 51% respectively. The decrease in the average and median list prices can be directly attributed to the increase in listings under contract for less than $1 million.

Current condo/townhome market inventory is down slightly when compared to the same period in 2018, with only 45 available units. The average and median listing prices are up 25% and 63% respectively. Of the 45 condo/townhomes currently on the market, one is listed for under $500,000, 13 between $500,000 and $1 million (down 35%), 18 between $1 million and $2 million and eight between $2 million and $6 million.

Least expensive condo/townhome listing at year-end: $320,000, which buys you a 474 sq. ft. 1-bedroom and 1-bath condo in the Virginian Village in the Town of Jackson

Most expensive condo/townhome listed in MLS at year-end: $5.75 million, which buys you a new 3,305 sq. ft. 3-bedroom, 3.5-bath townhome in Shooting Star (Teton Village).

Jackson Hole Mountain Resort (Teton Village): 54 sold (down 13%) with an average sale price of $1.99 million (up 5%) and a median sale price of $1,075,000. The increase in the average sale price was due to a larger number of sales over $5 million, all in Shooting Star.

Jackson Hole Racquet Club/The Aspens: 22 sold (down 24%) with an average sale price of $697,383 (up 15%) and a median sale price of $660,000 (up 22%). The most expensive sale was $1.15 million for a fully furnished 1,296 sq. ft. condo with 3 bedrooms and 2.5 baths, built in 1978.

Teton Pines: Three condo sales (down 40%) with an average sale price of $1.81 million (up 10%).

Town of Jackson: 159 units sold (up 34%) with an average sale price of $793,062 (up 14%) and a median sale price of $625,000 (up 8%). NOTE: The average and median sales prices are the highest ever in the Town of Jackson. Also note; the Town of Jackson claimed 62% of all condo sales in Jackson Hole.

Jackson Hole Golf & Tennis: Five condos sold (down 45%) with an average sale price of $866,800 (up 6%).

Rafter J Ranch: Six sold with an average sale price of $ 666,667. Total sales volume was $4,000,000.

Spring Creek Resort: 11 sold in 2019 (up 83%) with an average sale price of $9037,636 and a median sale price of $760,000.

*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 2019 compared to sales in 2018.
*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 – 2020 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.