2020 Mid-Year Market Report

 
What an unprecedented year 2020 has been so far. After a record breaking first quarter for Jackson Hole Real Estate Associates and a 30% increase in the overall Teton County market in Q1, the world was suddenly upended by an international pandemic. In response, our firm ramped up its operations with an understanding that it was critical for our clients to closely track market information.
 
The Teton County real estate market “hit pause” as the uncertainty of the pandemic rippled through the region starting mid-March 2020, when the shut down began. According to MLS data, overall transactions lagged nearly every week through the first week of June, 2020 vs. 2019. In the same period, new listings and pending listings were also down. But beginning in June 2020, the local real estate market started heating up. 
 
 
Single Family home pending listings, those that are under contract and slated to close, are up 62% YTD 2020 vs. 2019. Buoyed by a recent, significant demand in the second home market, Luxury Listings, those priced above the $3M mark, reports a 164% increase in pendings YTD 2020 vs. 2019. This is a strong indicator the local market has quickly bounced back due to pent up demand created by the pandemic.
 
The number of transactions declined 22% while the average sale price leaped up 52% further confirming a robust upper end of the market. The number of sales over the $2M mark increased dramatically YTD through 2020 vs. 2019. Transaction volume overall continues to decline, down 22%. Active listings are slightly down at 5% and average days on market declined.
 
As the world continues to carefully re-open, many are discovering the unique lifestyle benefits and quality of life that Jackson Hole offers to its residents.
 
View the full report here.
 
To learn more about the Jackson Hole Mid-Year Market Report or for more information specific to your area, contact me.

Recent Blog Posts

Stay up to date on the latest real estate trends.

The State of Real Estate in The Time of Covid-19

Camille Thomas  |  June 30, 2022

Leaders of Jackson Hole Real Estate Associates hosted a community forum.

Style by Fire – How to Choose the Perfect Fire Pit to Heat Up Your Outside Space

Camille Thomas  |  September 25, 2020

A fire pit is a way for us outdoorsy types to get some use out of the backyard

Tips for Starting Your Home Search

Camille Thomas  |  September 8, 2020

Finding your dream home is an exciting adventure that, at times, can feel all-consuming.

5 Ways to Prepare to Buy or Sell Later

Camille Thomas  |  August 8, 2020

Summer is usually the perfect time to buy or sell a home. And for some people, it still is.

2020 Mid-Year Market Report

Camille Thomas  |  July 22, 2020

The Teton County real estate market “hit pause” as the uncertainty of the pandemic rippled through the region starting mid-March 2020.

Summer Is the New Spring for Real Estate

Camille Thomas  |  July 8, 2020

The usual spring busy season has been pushed back this year as many home buyers and sellers delayed their original plans.

Curb Appeal Upgrades That Can Add Value

Camille Thomas  |  June 20, 2020

Keep it in great condition, and you’ll likely see high property values and serious marketability when it comes time to sell.

How Tech Helps You Buy or Sell a Home

Camille Thomas  |  May 15, 2020

With much of the country mostly staying home, it’s not your typical spring homebuying season.

A Guide To Social Distancing In Jackson Hole

Camille Thomas  |  April 13, 2020

There are still ways to support our local businesses and have a good time! The Jackson Hole Chamber of Commerce is here to help.

Work With Camille

Working alongside Compass Real Estate Jackson Hole, she helps clients far and wide in their purchase or sale of residential and commercial properties. Contact Camille today?