Luxury home sales ruled Teton County’s first-quarter real estate market for 2023, according to recent statistics.
Most of the first quarter sales in Teton County were priced at $1 million or higher, with only 10 sales under the $1M mark, according to Compass Real Estate’s Jackson Hole Real Estate Market Report. The highest sale was for $48M, and no sales were under $500K.
There were a total of 59 transactions. A 40% decrease year-over-year. Total dollar volume decrease of 59% year-over-year. Inventory levels remain below pre-pandemic numbers at 143 active listings, a 147% increase year-over-year.
Lack of inventory has also kept prices steady with the average single-family home sale price increasing 3% year-over-year to $4,561,628. The overall median sale price increased by 30% year-over-year to $2,105,000.
The average sale price for condominiums increased 9% year-over-year, and the average sale price for vacant land increased by 97% to $6.35M.
“While transactions are down in some segments, every segment has seen average sale increases, indicating the desire to own in Jackson is still strong. Both buyers and sellers, continue to have great opportunities in this adjusting market.” Says Graham-Faupel-Mendenhall & Associates.
This Market Report has been provided by
Graham-Faupel-Mendenhall & Associates