Q3 Market Report

Page 1


Introduction Overall Market 7KH -DFNVRQ +ROH UHDO HVWDWH PDUNHW À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ctive vs. Sold by Market Segments (through Quarter 3)

250

206

207

Active

200

173

Sold

154 150

127

100

84

78

50

0

34

Single Family

Condo/ Townhome

Land

Luxury

29

39

Commercial

Market Overview by Segment Single Family Segment 7KH VLQJOH IDPLO\ VHJPHQW PDGH LQFUHGLEOH JDLQV LQ SULFH DSSUHFLDWLRQ FRPSDUHG WR WKH UG TXDUWHU RI 7KH PHGLDQ VDOH SULFH RI D VLQJOH IDPLO\ KRPH LQ -DFNVRQ +ROH UHDFKHG D LQFUHDVH IURP WKLV WLPH ODVW \HDU 7KH PDMRU GLIIHUHQFH EHLQJ WKH VKLIW IURP VDOHV LQ WKH XQGHU FDWHJRU\ GRZQ WR WKH VDOH RI KRPHV RYHU 0 XS )LQGLQJ D VLQJOH IDPLO\ KRPH XQGHU FDQ EH FKDOOHQJLQJ WKHUH KDYH EHHQ WKLV \HDU FRPSDUHG WR WKLV WLPH ODVW \HDU 7KLV JURZWK LV XQGHWHUUHG E\ WKH FRQVLGHUDEOH GURS LQ WKH QXPEHU RI WUDQVDFWLRQV ZKLFK DUH GRZQ RYHU ODVW \HDU $V LV W\SLFDO RI WKH VLQJOH IDPLO\ VHJPHQW WKH PDMRULW\ RI WKH WUDQVDFWLRQV WRRN SODFH LQ WKH 7RZQ RI -DFNVRQ DQG 6RXWK RI -DFNVRQ DOEHLW LQ PXFK VPDOOHU TXDQWLWLHV WKLV \HDU 7KH JUHDWHVW LQFUHDVH LQ VDOHV WRRN SODFH VRXWK RI :LOVRQ ZLWK D LQFUHDVH LQ WUDQVDFWLRQV 7KH VLQJOH IDPLO\ KRPH LQYHQWRU\ UHPDLQV ORZ SDUWLFXODUO\ KRPHV XQGHU 0 ZLWK LQYHQWRU\ GRZQ

MLS #13-1960 | $17,850,000

MLS #14-1246 | $11,000,000

MLS #12-1183 | $6,900,000

MLS #14-428 | $4,995,000

www.thenevillegroup.com  |www.JHREA.com  307.734.9949  |  270  W  Pearl  Ave,  Jackson  WY  WY | 888.733.6060 | 80 W. Broadway, Jackson,


Market Overview by Segment (continued) Condominium & Townhome Segment &RQGRPLQLXPV DQG WRZQKRPHV LQ -DFNVRQ +ROH KDYH EHHQ RQ WKH XSVZLQJ :LWK D PRUH DIIRUGDEOH SULFH WDJ WKDQ VLQJOH IDPLO\ KRPHV FRQGRPLQLXPV DQG WRZQKRPHV KDYH EHHQ YHU\ SRSXODU DQG WUDQVDFWLRQV KDYH UHPDLQHG OHYHO ZKHQ FRPSDUHG WR ODVW \HDU 7KLV VWDELOLW\ FRQWULEXWHG WR D WRWDO GROODU YROXPH LQFUHDVH RI PDNLQJ WKLV WKH RQO\ PDMRU VHJPHQW RI WKH PDUNHW ZLWK DQ LQFUHDVH LQ WRWDO GROODU YROXPH &RQGRPLQLXPV DQG WRZQKRPHV ZHUH DPRQJ WKH À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

Vacant Land Segment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

Sales Distribution by Type

Sales Distribution by Price Over $5M 3%

Over $5M 2% Other 6% Vacant Land 19%

Other 9%

Single Family 44%

Condo/ Townhome 31%

2013 Quarter 3

Vacant Land 18%

$2M - $5M 11% Single Family 39%

Condo/ Townhome 35%

2014 Quarter 3

$1M - $2M 19%

$2M - $5M 14% Under $500K 36%

$500K - $1M 32%

2013 Quarter 3

$1M - $2M 19%

Under $500K 31%

$500K - $1M 34%

2014 Quarter 3

Luxury Market Spotlight -DFNVRQ +ROH :\RPLQJ LV V\QRQ\PRXV ZLWK OX[XU\ DQG LV DQ LQWHUQDWLRQDO PDUNHWSODFH IRU OX[XU\ UHDO HVWDWH 7KH GHPDQG IRU KLJK TXDOLW\ H[FOXVLYH SURSHUWLHV KDV RXWSHUIRUPHG WKLV WLPH SHULRG ODVW \HDU E\ DSSUR[LPDWHO\ ZKHQ ORRNLQJ DW WKH QXPEHU RI WUDQVDFWLRQV 7KH WRWDO GROODU YROXPH RI WKRVH WUDQVDFWLRQV DFFRXQWHG IRU RYHU 0 LQ VDOHV DQ DSSUR[LPDWH LQFUHDVH RYHU ODVW \HDU Record Sale (through Q3):

$24,500,000*

Average Sale Price Above $3M:

$5,706,708

Number of Sales Above $3M:

26

Sold | 14-553 *listing price

www.thenevillegroup.com  |www.JHREA.com  307.734.9949  |  270  W  Pearl  Ave,  Jackson  WY  WY | 888.733.6060 | 80 W. Broadway, Jackson,


Number of Sales by Quarter 300 280 260 240 220 200 180 160 140 120 100 80 60 40

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3Q14

1Q14

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3Q13

1Q13

2Q13

4Q12

3Q12

2Q12

4Q11

1Q12

3Q11

1Q11

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4Q10

3Q10

1Q10

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4Q09

3Q09

1Q09

2Q09

4Q08

3Q08

1Q08

2Q08

4Q07

3Q07

1Q07

0

2Q07

20

Our Locations 307 733 6060 TEL 307 733 3483 FAX www.JHREA.com PO Box 4897 Jackson, WY 83001 80 West Broadway Jackson, WY 83001 270 West Pearl Jackson, WY 83001 Snow King Hotel Jackson, WY 83001 PO Box 3225 181 Alpine Drive Alpine, WY 83128 307 654 7575 TEL

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PO Box 846 235 South Main Street Thayne, WY 83127 307 883 7575 TEL 65 South Main Street Driggs, ID 83422 208 354 7325 TEL

| 888.733.6060 | 80 W. Broadway, Jackson, www.thenevillegroup.com  |www.JHREA.com  307.734.9949  |  270  W  Pearl  Ave,  Jackson  WY  WY


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