Jackson Hole 3rd Quarter Market Update

Continuing the trend of improved activity since the economic downturn in 2008, 3rd quarter unit volumes for 2013 rose 40% above those for 3rd quarter 2012. While all segments of the market have been active, properties under $1.5 million saw a surge in sales of 64% resulting in 87% of total units sold versus 74% in 3rd quarter 2012. The increased activity in 3rd quarter 2013 has caused 2013 year-to-date dollar volume to rise well ahead of 3rd quarter year-to-date for each of the years between 2008 and 2012. Current 2013 unit and sales volumes are at their highest level since 2008. As a result, inventory is waning, with 22% fewer condos and townhomes in September 2013 versus September 2012 and 18% fewer single family homes. If this trend continues, expect to see prices increase to reflect the lack of supply relative to demand. If you would like to know more about the local market, or if you are looking to purchase or sell a piece of Jackson Hole, please contact Tom Evans Real Estate. Tom Evans will put his 26+ years of local market expertise to work for you.