Overall, Jackson Hole real estate sales through the first three quarters of 2014 are down slightly at 16% when compared to 2013. A 20% decrease in listing inventory appears to be a major factor for this downturn with single-family home sales down the most out of vacant land and attached homes sales. Analysis of the mid year market report theorized that the early recovery of the single-family home market encouraged sellers to raise asking prices, which in turn caused a standoff between sellers and buyers. As the 3rd quarter closed list prices remained up, resulting in a downturn in overall sales when compared to the previous banner year in 2013. Another reason for the slight drop off; fewer “ultra luxury” home sales occurred in 2014, with only one sale in excess of $10,000,000 compared to four such sales in the previous year.
Attached homes sales were down 7.45% from 2013, but the average attached home price increased by nearly 7%. Vacant land sales were down 16.49% and single-family homes were down 23%.