2017 inventory levels continue to stabilize across market segments.
JACKSON, WY – The past several years have seen a noticeable decline in active listings on the market for properties under $850k in Teton County, Wyoming.<.p>
Properties within this market segment have seen a corresponding decline in absorption rates as buyers looking for single-family homes and condominiums are jumping at the opportunity to own a piece of Jackson Hole. Available listings have continued to correct from a peak established in 2012 (See Figure 2) with levels normalizing within the last two years.
Inventory of listings priced between $850k and $1.5M have seen only a slight decline through seasonal averages during the same period, while listing inventory numbers in the luxury segments of the market at $3M and above have remained essentially constant.
Across the market as a whole, the average number of days-on-market is down as buyers move quickly to secure quality inventory.
With the increased desire for lifestyle-inspired home purchases and a continued need for workforce housing solutions within Teton County, the lower-priced market segment continues to see robust activity amidst tightening inventory levels.
New Yorkers who fall in love with Wyoming’s natural beauty during visits to Jackson Hole have another reason to consider relocating. For the fifth year in a row, the Cowboy State will take the top ranking in the Tax Foundation’s State Business Tax Climate Index, due out Wednesday.
Wyoming is followed closely by South Dakota and it’s easy to see why. Both states collect neither an individual nor corporate income tax. Rounding out the top five are Alaska, Florida and Nevada, which also have no income tax.
A northeasterner thinking of putting down roots in one of these friendly climes wouldn’t be the first. Providing a powerful incentive to go west, New Jersey once again finished dead last, slightly worse than 49th-ranked New York.