With sales at the high end of the market leading the charge, the average sales price of a single-family home in Jackson Hole increased by 19.6% year-over-year in the first quarter of 2023, to more than $5 million.
Though overall sales volume rose by $10 million to $212 million, total transactions dipped slightly from 59 to 54 units – a 8.47% decrease – as higher interest rates and stubbornly elevated prices kept a swath of buyers and sellers watching from the sidelines.
During the past year, inventory has gradually ticked upward from historically low levels during the pandemic, but there has yet to be a game-changing shift on the market to break loose a standoff between buyers and sellers. It’s only a matter of time before this shift occurs, however, given the continued high demand for property in the perennially alluring Tetons.
If you’re interested in buying or selling, it helps to have an experienced Jackson Hole Realtor to monitor the market and get ahead of the curve. Please do not hesitate to contact us at jhpropertygroup@jhsir.com or (307) 739 8190.
In the meantime, you can view the entire Teton County, Wyoming Market Report for First Quarter 2023 from Jackson Hole Sotheby’s International Realty below.
