Jackson Hole real estate market breaks records

When the pandemic came on the scene in late winter, who knew it would lead to the best year ever for Jackson Hole real estate?

The valley's real estate market has broken no less than 42 financial and statistical records already this year, according to the Jackson Hole Report's third-quarter update for 2020. 

One of the most notable figures is the overall dollar volume spent through September – a total of $1.558 billion, an all-time record for sales in the first three quarters.

Prior to 2020, the best year in Jackson Hole real estate history was in 2007 with $1.576 billion in overall dollar volume.

"The difference? Those numbers reflect sales for all 12 months of 2007," wrote Jackson Hole Report's number keepers, David Viehman, Devon Viehman and Luke Smith.

When combining the overall dollar volume in the first nine months of 2020 with the overall dollar volume currently under contract – another $622 million – 2020 is expected to "completely shatter" all previously set year-end dollar volume records.

"And we still have three months to go," the report stated. 

Another notable record isn't so much a high, but an all-time low. The overall numbers of available listings are down 44% from this period in 2019, and in no other period in the last 40 years has overall available inventory been this low, the report stated.

Jackson Hole isn't alone in its real estate boom. The surge in sales is happening in may resort towns, as reported recently in the Wall Street Journal

View the local report summary at JacksonHoleRealEstateReport.com.

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(1) comment

Laurie Elkin

While these numbers are impressive, it also means that affordable housing in Jackson and the surrounding areas is almost non-existent.

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