Jackson Hole Market Update©
Third Quarter 2008
October 22, 2008
Top Level Market Data for Total MLS
Total Year To Date MLS Sales Dollar Volume is at Levels Not Seen Since 2002-2003
YTD
Data Source - Teton MLS
Transaction Volume (# of sales) is Tracking at or Near 2002-2003 Levels for Total MLS
Data Source - Teton MLS
Total MLS Dollar Volume Is Down When Compared to Third Quarter of Last Year
49% Decrease
Data Source - Teton MLS
Total MLS Inventory Increases While Jackson Hole Inventory Decreases
Jackson Inventory
Total MLS Inventory
Data Source - Teton MLS
Months of Inventory, Fueled by Growth in Outlying Areas Increases by 3X
Data Source - Teton MLS
Average Days on Market Shows ~10% Increase in Third Quarter 2008
Data Source - Teton MLS
Residential Sales Transactions Out Number All Others in Third Quarter 2008
Data Source - Teton MLS
Areas Outside of Jackson With Largest Inventory Have Most Transactions in Third Quarter 2008
Data Source - Teton MLS
Market Data for Jackson Hole Area
Jackson Hole Residential Sales Dollar Volume Starts To Level Off
Data Source - Teton MLS
However Jackson Hole Residential Sales Volume Decreases Over Same Time Last Year
61% Decrease
Data Source - Teton MLS
Jackson Hole Single Family Median Sales Price Starts To Level Off After Peaking in Second Quarter
Data Source - Teton MLS
Gap Between High and Low Sales Prices Remains Large as More High Priced Property’s Close in Q3
Property Type Condo Town Home Single Family
Low $330,000 $545,000 $553,500
High $4,050,000 $4,250,000 $9,000,000
Data Source - Teton MLS
The Case for Investing in Jackson Hole
Themes and Observations for Jackson Hole Real Estate Market
- Inventory in areas outside of Jackson continues to increase. - Prices in all areas have begun to adjust to reflect effects of slowdown. - Jackson Hole inventory is reducing due to sales and seasonality. - Lack of sales in lower end of market is artificially pushing median prices higher. - Availability of credit is primary factor in reducing sales in lower end of market. - If economy continues to slow prices may continue to move downward especially in areas outside of Jackson. - The Jackson market has seen less pricing pressure due to continued strong supply and demand scenario. - Jackson and the Rocky Mountain Region continue to be the fastest growing areas for baby boomers and those seeking to leave suburbia.
Todays Value of a $1.4M Dollar Real Estate Investment Made In 2003 Compared Against Two Major Stocks
Data Source - BigCharts.Com / Teton MLS
Contact Us
If you or someone you know is considering buying or selling real estate in the Jackson Hole area, please contact us. We would be happy to assist you with your transaction. If you would like more Information about our services or would like to receive future reports please contact us by email or sign up on our website at: Email - info@livinginjacksonhole.com Web - http://www.livinginjacksonhole.com
Disclaimer
The data presented here is deemed reliable but is not guaranteed. All opinions expressed herein are those of the author not the brokerage, Real Estate of Jackson Hole. Before making any investment in real estate you should consult your accountant, financial advisor and legal counsel before proceeding. No representation is being made by the brokerage, Living In Jackson Hole or Dana Harris that any investment in real estate will always provide a return similar to those portrayed herein.