JACKSON, Wyo. — For the Jackson Hole real estate market, 2022 will be remembered as the year that came in like a lion, and went out like a lamb.
Following the heady COVID surge of 2020 and 2021, the valley market cooled off in the first six months of 2022. Rising interest rates, a contentious election cycle and other external forces chilled the regional market further in Q3 and Q4.
Heading into December, the year-end dollar volume had the potential to break the symbolic $1 billion mark for the third year in a row. But a tepid final month of the year that saw only 12 closings for $50.8M landed the year-end dollar volume for the Teton County real estate market at $961.4M (down 49.6% from 2021).
It’s important to note, however, that total is still greater than the pre-covid, year-end total from 2019 of $927.6M (and with nearly 50% fewer transactions than three years ago).
While the market climate is still in a state of flux, Jackson Hole Sotheby’s International Realty (JHSIR) maintained its perennial place as the leading brokerage in the valley. Despite a challenging year on several fronts, JHSIR sales accounted for 41.9% of the overall dollar volume market share in 2022, which was also greater than the next five brokerages’ totals combined.*
As the global pandemic subsides and Teton County returns to its new normal, let the resources and reach of the valley’s leading real estate brokerage help you with your real estate needs in 2023.
Read the full report here.