Only in the figurative sense, fortunately. There have been ample forest fires in the West this summer, but, thankfully, the only thing on fire in Jackson Hole is the real estate market, and it’s HOT. It really is an excellent time to list if you are considering selling.
Overall Market Statistics for the first half of 2018:
- Market is currently showing 15% more sales than same period 2017.
- The lowest available inventory in over 35 years (down 20%).
- Homes under the $1M mark are scarce and very few exist below $300,000.
- Average sales price is up by 16% to $1,202,000
- The town of Jackson continues to be a hot spot with 38% of overall sales occurring there.
- The luxury market is on fire! It is up 107% over same period last year with a total of 60 sales. Of those 60 sales 24 were for sales of homes over 5M.
- Teton Village continues to be very active with properties being snatched up quickly.
- The only segment that seems slow is the single-family vacant land sales which are down 16%.