The Q2 Real Estate Market Reports are in!
Mountain Standard is here to be your resource for all things Jackson Hole and Teton Valley real estate. Wondering what's been going on in the market lately and how it could affect your buying or selling plans? We're here to break it down for you.
Jackson Hole, Wyoming
In the second quarter of 2024 the overall market brought intriguing developments in Jackson Hole’s real estate market. The overall market saw 125 total transactions, a 13% decrease when compared to Q2 of 2023. These transactions totaled $603 million, an 11% decrease. At the time of this report there are 302 active listings, and 45 pending listings, increasing by 8% and 18% respectively. In summary, the overall Q2 2024 stats illustrate the market is starting to favor buyers. This is proven by the increase in inventory and days on market, partnered with slight decreases in the number of transactions and listing prices of Single Family Homes and Condos and Townhomes. The correlation between these statistics suggests that although interest rates are high, now may be the time to buy. Once interest rates drop, we can expect to see bidding wars on listings from each market segment.
Teton Valley, Idaho
In the first half of 2024, the market has showcased intriguing dynamics across various property types. There were 282 sales, that totaled $180 million, representing a 4% increase when compared to Q2 2023. The single family saw a decline by 12%, the condo and townhome market surged by a whopping 43%, the vacant land market also surged by 42%, the commercial sector decreased with a big downward shift of 57% and farm and ranch segment remained stable. When it comes to real estate in Teton Valley, there is no one-size-fits all recommendation for timing your buying and selling. Now, more than ever, it's important to have a realtor in your corner who understands the nuances and trends within EACH of these unique segments.
What does this mean for me?
Check out the full reports below:
