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{"id":2911,"date":"2020-01-07T14:51:35","date_gmt":"2020-01-07T21:51:35","guid":{"rendered":"https:\/\/www.jacksonholerealestatetoday.com\/?p=2911"},"modified":"2020-01-07T14:51:35","modified_gmt":"2020-01-07T21:51:35","slug":"hindsight-in-2020-jackson-hole-real-estate-review","status":"publish","type":"post","link":"https:\/\/briansiegfriedjh.com\/hindsight-in-2020-jackson-hole-real-estate-review\/","title":{"rendered":"Hindsight in 2020: Jackson Hole real estate review"},"content":{"rendered":"\n
\"\"
The record heights reached by the Jackson Hole real estate market in 2018 were duplicated in 2019, unofficially surpassing $1 billion in total sales volume for the second time.<\/figcaption><\/figure>\n\n\n\n

Jackson Hole real estate\nsales topped $1 billion in 2019 for the second consecutive year as unit sales\nand sales volume mirrored almost exactly the record-breaking numbers set in\n2018.<\/p>\n\n\n\n

The numbers are slightly\nlower than $1 billion according to Teton County Multiple Listing Service*,\nwhich reported 532 sales \u2013 including residential, building site and farm and\nranch properties \u2013 for a total sales volume of approximately $921.6 million. In\n2018 the topline statistics were almost identical with 532 sales for $922\nmillion in reported sales. <\/p>\n\n\n\n

(On average about 20 percent of all deed transfers in Teton County,\nWyoming, are not reported to the MLS so it is safe to say off-market sales\npushed total sales volume above $1 billion in 2018 and 2019.<\/em>)<\/p>\n\n\n\n

The market previously topped out in 2007 when 581 units were sold (still a record) for a reported sales volume of $804 million. Total sales volume approached or may have slightly exceeded $1 billion that year as well. That peak, however, was followed by a steep decline in 2008 to about 275 sales for $375 million, a trend that continued in 2009, which saw just 225 transactions result in approximately $220 million in sales. <\/p>\n\n\n\n

\"\"
Vacant land sales near the Jackson Hole Airport helped boost sales volume for building sites to approximately $144 million in 2019.<\/figcaption><\/figure>\n\n\n\n

But as the new decade began the\nmarket rebounded slowly and steadily until values returned to pre-recession\nhighs segment by segment. Many micro-markets \u2013 such as single-family homes, county\nbuilding sites, and Town of Jackson townhouses and development parcels \u2013\nexceeded the highs of 2007 in the last two years. Overall, the Jackson Hole\nreal estate market has more than quadrupled in annual sales volume and more than\ndoubled unit sales since 2009.<\/p>\n\n\n\n

[The overall market tracks similarly to the Teton Village market, which is explored extensively in \u201cTeton Village real estate matures\u201d <\/a>posted in December<\/em>] <\/p>\n\n\n\n

Residential property breakdown<\/strong><\/p>\n\n\n\n

Looking at the residential\nhome market in Jackson Hole (from Hoback Junction to the south to Moran\nJunction to the north and everything in between), there were 435 sales for\napproximately $777 million in sales volume*. <\/p>\n\n\n\n

This is also almost identical\nto 2018, which saw 434 sales of condos, townhouses and single-family homes.<\/p>\n\n\n\n

Residential sales highlights\ninclude:<\/p>\n\n\n\n