Strong Demand Drives Days on Market Down
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.