YEAR OVER YEAR | JACKSON HOLE, WY
Q1 2024 | Year Over Year
$5.26 Million
153 Active Listings
Difference Since Q1 2023
+33%
Despite a 20% increase in overall inventory compared to the previous year, the number of properties for sale remains exceptionally low. This persistent low-inventory environment, coupled with strong demand, has kept real estate prices resilient.
Q1 ’23
122
Q1 ’24
153
% Change
+20%
Q1 ’23
77
Q1 ’24
73
% Change
-5%
$6.67 Million
57 Active Listings
Difference Since Q1 2023
+18%
This year began with nearly 37% of home sales exceeding the $5 million mark including an estate on the Snake River selling at an astonishing $37 million. The strength of the luxury home market propelled the average sale price up roughly 18% and the median price climbed sharply, up 50%.
Q1 ’23
48
Q1 ’24
57
% Change
+16%
Q1 ’23
35
Q1 ’24
25
% Change
-39%
$1.43 Million
42 Active Listings
Difference Since Q1 2024
-39%
With sales predominantly concentrated in the lower-priced inventory, both average and median sale prices have seen a considerable decline compared to the first quarter of last year, dropping by 39% and 44%, respectively.
Q1 ’23
16
Q1 ’24
42
% Change
+62%
Q1 ’23
19
Q1 ’24
26
% Change
+28%
$3.34 Million
40 Active Listings
Difference Since Q1 2023
+137%
Land transactions in the first quarter of this year have been notably sparse, continuing the trend observed in both 2022 and 2023. The market for land sales reached a peak in 2021, with transactions in the first quarter of that year surpassing this year’s by 78%. This year, sales were primarily in the $3 million and above category, driving average and median prices up by 137% and nearly 150%, respectively.
Q1 ’23
42
Q1 ’24
40
% Change
-5%
Q1 ’23
9
Q1 ’24
10
% Change
+10%
The luxury segment of the market, is defined as residential and land sales over $5 million.
$17.54 Million
45 Active Listings
Difference Since Q1 2023
+42%
Despite a small number of transactions, the market for unique and luxurious properties in prime locations has witnessed consistent price growth. Notably, the median price saw a 20% increase, while the average sale price surged by over 40%, in comparison to the same timeframe last year.
Q1 ’23
45
Q1 ’24
45
% Change
–
Q1 ’23
13
Q1 ’24
16
% Change
+16%
CINDEE GEORGE
Associate Broker
(307) 690-3996
cindee@jhreteam.com
KELSEY SPAULDING
Associate Broker
(218) 410-0624
kelsey@jhreteam.com
JAMES DOYLE
Sales Associate
(307) 690-9768
james@jhreteam.com
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