News from Jackson Hole Radio January 11, 2021

Real Estate Reaches Records

by Jackson Hole Radio News

Jackson Hole Real Estate reported yesterday that the popularity of living in Jackson Hole has set records. The trend that started in the second quarter of 2020, the exodus from cities to locations with open space and safety, ramped up substantially pushing demand for local real estate to new heights. By the end of the third quarter of 2020, the Jackson Hole real estate market closed over $1.5-billion of residential transactions, more than the entire year in 2019. According to data collected from the Teton County Multiple List Service along with proprietary off-market data, the overall Total Sales Volume for 2020 increased an incredible 90% over 2019 to over $2.3-billion. In addition, Total Transactions increased 27% in 2020 over 2019. The overall average sales price for real estate in Teton County jumped 50% to $2.8-million from 2019 prices. In the Single-Family-Home category, the average sales price rocketed to $3.7-million, pushed up by an explosion in the Luxury Segment of the market of properties valued at $3-million and higher. The single-family home segment drove the 2020 market growth with an increase in total sales volume of 127% and the land segment by 133%.