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JACKSON HOLE REAL ESTATE REPORT

2021 First Quarter

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.

Available Inventory Plummets 77% In Just 12 Months

On March 31, 2020 we reported 274 “Overall Active Listings” in our valley—the second lowest level of available inventory in over 30 years at that time. Twelve months later, Overall Active Listings decreased 77% to 64 total listings.

Our Q1 2020 report noted our strong concerns about COVID-19’s potential effect on our local real estate market. Those concerns melted away by the time we debuted our Q2 2020 report. In fact, 2020 ended up breaking records across the board, including the overall dollar volume of $2.455 billion—55% higher than the previous record set in 2007.

What happened in the last 12 months?

It’s clear many Buyers vacated large cities due to both COVID-19 and civil unrest. What came as a BIG surprise was the number of Zoom Towner’s whose companies went virtual for the foreseeable future. Most had been contemplating a move for some time, or had planned to retire in Jackson Hole someday, and felt that 2020 was the right time. Today, while the COVID-19 vaccines offer hope, the desire to exit larger cities, retire early, or telecommute continues. In fact, there are hundreds of Buyers who have hired local Realtors to be their advocates, to help them find something—anything! Many of these Buyers have already moved here, putting pressure on our rent pool while they wait for new listings to hit the market.

Why are we not seeing more inventory hitting the market?

With the exception of a few high-end spec homes, and a handful of new luxury condos in the Town of Jackson, we are not seeing any significant new inventory. Even resale inventory has plummeted. With the exception of a few Sellers retiring, and some locals cashing in and moving over the hill or to Alpine, our resale inventory has taken a nose-dive.

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.

  • 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 David, Devon and Luke 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 2021 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.
  • 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 – 2021 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.

© Copyright Jackson Hole Report 1995 - 2021 & Jackson Hole Luxury Report 2013 - 2021
© Copyright Engel & Völkers 2021. All rights reserved. Each brokerage independently owned and operated. All information provided is deemed reliable but is not guaranteed and should be independently verified. If your property is currently represented by a real estate broker, this is not an attempt to solicit your listing. Engel & Völkers and its independent License Partners are Equal Opportunity Employers and fully support the principles of the Fair Housing Act.