Condo/townhome sales took a big hit with only 73 sales so far in 2020 (down 47%). In contrast, the average sale price increased 60%, when compared to 2019. The increase in the average sale price is due to an increase in the number of sales over $3 million.

The number of sales under $500,000 is down 72%, whereas the number of sales between $500,000 and $1 million is down 34%. The sale of 21 Virginian Village Condos in 2019, all listed below $400,000, greatly contributed to the under $500,000 decrease in 2020. NOTE: Both Teton Village and the Town of Jackson took big hits with number of sales, down 48% and 54% respectively. Of the 40 sales so far in 2020, 13 sold for over $1 million.
The number of condos/townhomes under contract has increased with 38 properties currently in negotiations (up 6%), and an average list price of $2.44 million (up 6%). The increase in the average list price reflects the luxury market ($3+ million) where 10 townhomes are under contract (up 10%).

Available inventory of condos/townhomes has seen a huge increase of 46% (73 listings). The average list price hit an all-time high at $1.6 million (up 8%), due to the increase in listings over $2 million (up 100%). Based on mid-year results, current inventory offers six months of condo/townhome stock. NOTE: Of the current available inventory, 49% is listed for less than $1 million, and one for under $500,000.

  • Currently there are 3,130 free-market condos/townhomes in Jackson Hole. They break down as follows: Westbank (1,147—with 681 in Teton Village); Town of Jackson (1,635); North of the Gros Ventre River (92); South of Gros Ventre River to County line (256)—all free-market (not deed restricted or timeshare).
  • There are 165 luxury condos/townhomes worth at least $3 million throughout the valley. All are located in Teton Village, with the exception of 5 in the Town of Jackson.

*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 2020 compared to sales in 2019.
*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.