market review dec 14' 4th qrt
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Jackson HoleMLS Areas 1 - 10
4th Quarter & Year to Date2014 Vs. 2013
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4th Quarter Ending
December 31, 2014
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Average sales prices fell 14% as sales volume declined 25% and unit volumes dipped 12%.
Source: TBOR MLS
0
30
60
90
120
150
180
$0.0
$30.0
$60.0
$90.0
$120.0
$150.0
$180.0
$210.0
$240.0
$270.0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Units SoldSales Volume
Teton County, WYComparison of the
4th Quarter Ending December, 2005 - 2014(dollars in millions)
Sales Volume Units Sold
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Source: TBOR MLS
South of Town reported the only increases quarter over quarter which included 4 propertiesselling in excess of $3 million vs. none last year.
2013 Sales No. of Town were driven by six properties selling over $5 million vs. two duringQ4-2014.
Source: TBOR MLS
2014 2013 Amount Percent
Sales Volume ($000)
Teton Village 17,969.4$ 21,722.5$ (3,753.1)$ -17.3%
West of Snake River 32,042.3 63,944.5 (31,902.3) -49.9%
North of Town 39,305.0 92,412.5 (53,107.5) -57.5%
Town of Jackson 25,681.7 29,694.9 (4,013.1) -13.5%
South of Town 54,143.5 17,393.2 36,750.3 211.3%
Total Teton County 169,141.9$ 225,167.6$ (56,025.7)$ -24.9%
Unit Sales
Teton Village 14 15 (1) -6.7%
West of Snake River 21 32 (11) -34.4%
North of Town 21 26 (5) -19.2%
Town of Jackson 38 48 (10) -20.8%
South of Town 34 26 8 30.8%
Total Teton County 128 147 (19) -12.9%
4th Quarter Than 2013
Teton CountySales by Area
4th Quarter Ending December 2014 Vs. 2013
2014 Higher/(Lower)
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Source: TBOR MLS
Average prices reflect not only fewer sales above $3.0 million but a lower ASP (-10%) forproperties selling between $850k and $1.5 million.
Days on market improved in all areas except West of the Snake and South of Town whichincluded properties on the market more than five years.
Source: TBOR MLS
2014 2013 Amount Percent
Average Sales Price
Teton Village 1,283.5$ 1,448.2$ (164.6)$ -11.4%
West of Snake River 1,525.8 1,998.3 (472.4) -23.6%
North of Town 1,871.7 3,554.3 (1,682.7) -47.3%
Town of Jackson 675.8 618.6 57.2 9.2%
South of Town 1,592.5 669.0 923.5 138.0%
Total Teton County 1,321.4$ 1,531.8$ (210.3)$ -13.7%
Days on Market
Teton Village 519 609 (90) -14.7%
West of Snake River 428 344 84 24.3%
North of Town 278 404 (126) -31.2%
Town of Jackson 108 191 (83) -43.6%
South of Town 399 249 150 60.3%
Total Teton County 310 315 (4) -1.4%
Teton CountyAverage Sales Price and Days on Market
4th Quarter Ending December 2014 Vs. 2013
2014 Higher/(Lower)
4th Quarter Than 2013
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Decline in single family home sales West of the Snake (down 57%) North of Town (down66%) fueled the 36% decline in sales volume.
Source: TBOR MLSSource: TBOR MLS
2014 2013 Amount Percent
Sales Volume ($000)
Residential
Condo 25,418.1$ 33,611.5$ (8,193.4)$ -24.4%
Single Family 81,941.3 127,527.1 (45,585.8) -35.7%
Total Residential 107,359.4 161,138.6 (53,779.2) -33.4%
Land / Farm & Ranch 59,352.5 56,225.0 3,127.5 5.6%
Commercial & Other 2,430.0 7,804.0 (5,374.0) -68.9%
Total Teton County 169,141.9$ 225,167.6$ (56,025.7)$ -24.9%
Unit Sales
Residential
Condo 41 59 (18) -30.5%
Single Family 53 62 (9) -14.5%
Total Residential 94 121 (27) -22.3%
Land / Farm & Ranch 32 20 12 60.0%
Commercial & Other 2 6 (4) -66.7%
Total Teton County 128 147 (19) -12.9%
Teton CountySales by Property Type
4th Quarter Ending December 2014 Vs. 2013
2014 Higher/(Lower)
4th Quarter Than 2013
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Source: TBOR MLSSource: TBOR MLS
2014 2013 Amount Percent
Average Sales Price
Residential
Condo 620.0$ 569.7$ 50.3$ 8.8%
Single Family 1,546.1 2,056.9 (510.8) -24.8%
Total Residential 1,142.1 1,331.7 (189.6) -14.2%
Land / Farm & Ranch 1,854.8 2,811.3 (956.5) -34.0%
Commercial & Other 1,215.0 1,300.7 (85.7) -6.6%
Teton County Avg. 1,321.4$ 1,531.8$ (210.3)$ -13.7%
Days on Market
Residential
Condo 241 296 (54) -18.3%
Single Family 234 281 (47) -16.8%
Average Residential 237 288 (51) -17.7%
Land / Farm & Ranch 526 574 (49) -8.4%
Commercial & Other 558 159 399 250.6%
Teton County Avg. 310 315 (4) -1.4%
4th Quarter Ending December 2014 Vs. 2013
2014 Higher/(Lower)
4th Quarter Than 2013
Teton CountyAverage Sales Price and Days on Market
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Only the $1.5 million to $3.0 million sales category reported sales or unit volume growth in thequarter.
Source: TBOR MLSSource: TBOR MLS
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Condo sales in nearly all price categories were flat to down during the quarter.
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Single family units selling between $850k and $3.0 million experienced 52% increase insales volume as units sold grew by 41%. – Town of Jackson & South of Town.
Over $3 million, unit volumes fell 62% and sales volume declined 70%.
Source: TBOR MLSSource: TBOR MLS
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Year End
2014 Vs. 2013
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Year to Date, sales volume declined 8% vs. 2013 on a less that robust 4th quarter.
Source: Teton County Multiple Listing Service
$0
$100,000,000
$200,000,000
$300,000,000
$400,000,000
$500,000,000
$600,000,000
$700,000,000
$800,000,000
$900,000,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Teton County, WYCumulative Totals - Twelve Months Ended December
2005 through 2014
2005
2006
2007
2008
2009
2010
2011
2012
2013
20142010
2011
2007
2006
2005
YTD Dec Sales Volume2005 748 $737.72006 664 726.12007 581 803.72008 282 480.12009 203 229.22010 261 387.82011 344 392.12012 430 596.22013 559 658.22014 498 608.2
2009
2008
2014
2013
2012
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Despite slowing unit and sales volume in 2014, we have seen five straight years of growth.
Source: TBOR MLS
0
100
200
300
400
500
600
700
800
$0.0
$100.0
$200.0
$300.0
$400.0
$500.0
$600.0
$700.0
$800.0
$900.0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Units SoldSales Volume
Teton County, WYComparison of the
Year to Date December, 2005 - 2014(dollars in millions)
Sales Volume Units Sold
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The 13 month trend of unit sales is slightly positive thanks to a strong third quarter.
Source: TBOR MLS
$26,561.5
$33,538.5
$46,983.1
$36,586.7
$51,219.9
$32,814.4
$52,254.4$57,179.3
$101,958.1
$87,122.0
$44,163.9
$37,856.0
$26,420.2
28
33
41 42 41
30
41
61
53
60
32
36
24
0
10
20
30
40
50
60
70
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
Units SoldSales Volume
Teton County, WYUnits Sold & Sales Volume
January, 2014 through January, 2015(dollars in thousands)
Sales Volume Units Sold Unit Volume Trend
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Source: TBOR MLS
Teton Village included the sale of a $19 million home in 2013.West of the Snake reflects a renewed interest in sales of vacant land as units rose 44% andsales volume increased 114% North of Town included 3 sales over $5 million vs. 8 last year.
Source: TBOR MLS
2014 2013 Amount Percent
Sales Volume ($000)
Teton Village 76,911.8$ 96,764.6$ (19,852.7)$ -20.5%
West of Snake River 184,051.9 155,624.0 28,427.9 18.3%
North of Town 91,799.8 192,212.7 (100,412.9) -52.2%
Town of Jackson 126,094.0 121,008.5 5,085.4 4.2%
South of Town 129,380.2 92,618.9 36,761.3 39.7%
Total Teton County 608,237.6$ 658,228.7$ (49,991.0)$ -7.6%
Unit Sales
Teton Village 60 65 (5) -7.7%
West of Snake River 113 94 19 20.2%
North of Town 63 78 (15) -19.2%
Town of Jackson 163 209 (46) -22.0%
South of Town 99 113 (14) -12.4%
Total Teton County 498 559 (61) -10.9%
Year to Date Than 2013
Teton CountySales by Area
Year to Date - December 2014 Vs. 2013
2014 Higher/(Lower)
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Source: TBOR MLSSource: TBOR MLS
2014 2013 Amount Percent
Average Sales Price
Teton Village 1,281.9$ 1,488.7$ (206.8)$ -13.9%
West of Snake River 1,628.8 1,655.6 (26.8) -1.6%
North of Town 1,457.1 2,464.3 (1,007.1) -40.9%
Town of Jackson 773.6 579.0 194.6 33.6%
South of Town 1,306.9 819.6 487.2 59.4%
Total Teton County 1,221.4$ 1,177.5$ 43.8$ 3.7%
Days on Market
Teton Village 385 467 (82) -17.6%
West of Snake River 291 329 (38) -11.5%
North of Town 344 417 (73) -17.5%
Town of Jackson 188 250 (62) -24.9%
South of Town 515 299 216 72.4%
Total Teton County 320 322 (2) -0.6%
Teton CountyAverage Sales Price and Days on Market
Year to Date - December 2014 Vs. 2013
2014 Higher/(Lower)
Year to Date Than 2013
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Source: TBOR MLSSource: TBOR MLS
Single Family unit sales fell 34% in the Town of Jackson and 44% North of Town while Westof the Snake sales rose 8%.
Land/Farm & Ranch includes a $19 million sale in the current year.
2014 2013 Amount Percent
Sales Volume ($000)
Residential
Condo 102,080.9$ 107,666.9$ (5,586.0)$ -5.2%
Single Family 315,319.4 407,133.9 (91,814.6) -22.6%
Total Residential 417,400.2 514,800.8 (97,400.5) -18.9%
Land / Farm & Ranch 150,088.0 122,847.4 27,240.6 22.2%
Commercial & Other 40,749.4 20,580.5 20,168.9 98.0%
Total Teton County 608,237.6$ 658,228.7$ (49,991.0)$ -7.6%
Unit Sales
Residential
Condo 188 199 (11) -5.5%
Single Family 190 255 (65) -25.5%
Total Residential 378 454 (76) -16.7%
Land / Farm & Ranch 95 85 10 11.8%
Commercial & Other 25 20 5 25.0%
Total Teton County 498 559 (61) -10.9%
Year to Date Than 2013
Teton CountySales by Property Type
Year to Date - December 2014 Vs. 2013
2014 Higher/(Lower)
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Source: TBOR MLSSource: TBOR MLS
Single family prices rose principally West of the Snake, Town of Jackson and South of Town. Condo days on market reflects tight inventories which have declined 16% in the past year.
2014 2013 Amount Percent
Average Sales Price
Residential
Condo 543.0$ 541.0$ 1.9$ 0.4%
Single Family 1,659.6 1,596.6 63.0 3.9%
Total Residential 1,104.2 1,133.9 (29.7) -2.6%
Land / Farm & Ranch 1,579.9 1,445.3 134.6 9.3%
Commercial & Other 1,630.0 1,029.0 601.0 58.4%
Teton County Avg. 1,221.4$ 1,177.5$ 43.8$ 3.7%
Days on Market
Residential
Condo 242 305 (63) -20.6%
Single Family 270 274 (4) -1.6%
Average Residential 256 287 (32) -11.0%
Land / Farm & Ranch 512 476 36 7.6%
Commercial & Other 310 326 (15) -4.7%
Teton County Avg. 320 322 (2) -0.6%
Year to Date - December 2014 Vs. 2013
2014 Higher/(Lower)
Year to Date Than 2013
Teton CountyAverage Sales Price and Days on Market
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Lower inventory (under $850k is down 20%) likely resulted in a 19% decline in unit sales.
On the other hand, inventory was steady in the $1.5 to $5.0 million categories, and unitsales rose 24%.
Source: TBOR MLSSource: TBOR MLS
$0.0
$20.0
$40.0
$60.0
$80.0
$100.0
$120.0
$140.0
$160.0
$180.0
$200.0
< $850,000 $850K to $1.5 Million $1.5 to $3.0 Million $3.0 to $5.0 Million > $5.0 Million
Teton County, WYSales Volume by Price Category
Year to Date - December, 2013 & 2014(dollars in millions)
2013 2014
366
295
10098 55
67
19
12
Units Sold
Sales Vol-21%Units-19%
Sales Vol-6%
Units-3%
Sales Vol+28%Units+24%
Sales Vol+33%Units+30%
20
26
Sales Vol-36%Units-37%
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Source: TBOR MLSSource: TBOR MLS
Overall sales volume declined 23% as unit volumes fell 26%. ToJ reported a 34% decline in units but only a 4% decline in sales volume due to 4 more unitssold over $1 million one of which exceeded $4 million. South of Town includes 6 homes selling in excess of $3 million vs. 1 last year.
2014 2013 Amount Percent
Sales Volume ($000)
Teton Village 28,267.5$ 54,465.0$ (26,197.5)$ -48.1%
West of Snake River 113,056.8 117,387.5 (4,330.7) -3.7%
North of Town 47,528.8 125,059.7 (77,530.9) -62.0%
Town of Jackson 43,468.6 45,282.1 (1,813.5) -4.0%
South of Town 82,997.7 64,939.7 18,058.0 27.8%
Total Teton County 315,319.4$ 407,133.9$ (91,814.6)$ -22.6%
Unit Sales
Teton Village 6 11 (5) -45.5%
West of Snake River 57 53 4 7.5%
North of Town 24 43 (19) -44.2%
Town of Jackson 45 68 (23) -33.8%
South of Town 58 80 (22) -27.5%
Total Teton County 190 255 (65) -25.5%
Average Sales Price
Teton Village 4,711.3$ 4,951.4$ (240.1)$ -4.8%
West of Snake River 1,983.5 2,214.9 (231.4) -10.4%
North of Town 1,980.4 2,908.4 (928.0) -31.9%
Town of Jackson 966.0 665.9 300.1 45.1%
South of Town 1,431.0 811.7 619.2 76.3%
Total Teton County 1,659.6$ 1,596.6$ 63.0$ 3.9%
2014 Higher/(Lower)
Year to Date Than 2013
Teton CountySingle Family Homes
Year to Date - December 2014 Vs. 2013
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Under $850k unit sales fell 51% reflecting a 47% decline in inventory. On the other hand, in the $1.5 million to $3.0 million range, sold units were virtually
unchanged and inventory was down 4%.
Source: TBOR MLSSource: TBOR MLS
$0.0
$20.0
$40.0
$60.0
$80.0
$100.0
$120.0
$140.0
< $850,000 $850K to $1.5 Million $1.5 to $3.0 Million $3.0 to $5.0 Million > $5.0 Million
Teton County, WYSingle Family Homes -- Sales Volume by Price Category
Year to Date - December, 2013 & 2014(dollars in millions)
2013 2014
136
67
51
60
3939
Units Sold
Sales Vol-46%Units-51%
Sales Vol+6%Units+6%
1617
Sales Vol+14%Units+18%
Sales Vol-55%Units-46%
13
7
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West of the Snake River was the only area reporting increases in unit sales althoughvolume declined slightly.
Sales volume South of Town reflects six homes selling for over $3 million vs. one last year. Declines in all other areas resulted in lower volume and units of 30% and 34% respectively.
Source: TBOR MLSSource: TBOR MLS
$0.0
$20,000.0
$40,000.0
$60,000.0
$80,000.0
$100,000.0
$120,000.0
$140,000.0
Teton Village West of Snake River North of Town Town of Jackson South of Town
Teton County, WYSingle Family Homes - Sales Volume & Units
Year to Date - December, 2014 & 2013(dollars in thousands)
2013 2014
11
6
5753
43
2468 45
80
58
Units Sold
Sales Vol-4%
Units+8%ASP-10%
Sales Vol-48%Units-46%ASP-5%
Sales Vol-62%Units-44%ASP-32%
Sales Vol-4%
Units-34%ASP+45%
Sales Vol+28%Units-28%ASP+76%
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Source: TBOR MLSSource: TBOR MLS
West of the Snake, condo units jumped 38% and volume 70% in part reflecting the sale ofthree more units selling over $1 million in 2014 than in 2013.
2014 2013 Amount Percent
Sales Volume ($000)
Teton Village 32,179.3$ 37,249.6$ (5,070.2)$ -13.6%
West of Snake River 19,809.1 11,671.5 8,137.6 69.7%
North of Town 6,126.0 7,065.0 (939.0) -13.3%
Town of Jackson 40,749.0 49,445.2 (8,696.2) -17.6%
South of Town 3,217.5 2,235.7 981.9 43.9%
Total Teton County 102,080.9$ 107,666.9$ (5,586.0)$ -5.2%
Unit Sales
Teton Village 47 51 (4) -7.8%
West of Snake River 33 24 9 37.5%
North of Town 13 11 2 18.2%
Town of Jackson 87 106 (19) -17.9%
South of Town 8 7 1 14.3%
Total Teton County 188 199 (11) -5.5%
Average Sales Price
Teton Village 684.7$ 730.4$ (45.7)$ -6.3%
West of Snake River 600.3 486.3 114.0 23.4%
North of Town 471.2 642.3 (171.0) -26.6%
Town of Jackson 468.4 466.5 1.9 0.4%
South of Town 402.2 319.4 82.8 25.9%
Total Teton County 543.0$ 541.0$ 1.9$ 0.4%
2014 Higher/(Lower)
Year to Date Than 2013
Teton CountyCondos & Townhomes
Year to Date - December 2014 Vs. 2013
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The Racquet Club/Pines reported the only increases in 2014.
Source: TBOR MLSSource: TBOR MLS
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Source: TBOR MLSSource: TBOR MLS
Fractional sales as a percent of total condo/fractional units sold in 2014 was 47% vs 27% in2013. Fractional units jumped 57%, sales volume doubled.
2014 2013 Amount Percent
Sales Volume ($000)
Teton Village 32,179.3$ 37,249.6$ (5,070.2)$ -13.6%
Condo 30,007.4 36,207.1 (6,199.6) -17.1%
Fractional 2,171.9 1,042.5$ 1,129.4 108.3%
Unit Sales
Teton Village 47 51 (4) -7.8%
Condo 25 37 (12) -32.4%
Fractional 22 14 8 57.1%
Average Sales Price
Teton Village 684.7$ 730.4$ (45.7) -6.3%
Condo 1,200.3 978.6 221.7 22.7%
Fractional 98.7 74.5 24.3 32.6%
2014 Higher/(Lower)
Year to Date Than 2013
Teton VillageCondo & Fractional Sales
Year to Date - December 2014 Vs. 2013
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Source: TBOR MLSSource: TBOR MLS
Area
# Area 2014 2013 % Chng 2014 2013 % Chng 2014 2013
1 Teton Village 684.7$ 730.4$ -6% 370.0$ 585.0$ -37% 47 51
2 Racquet Club/Pines 610.1 486.3 25% 500.0 422.5 18% 30 24
3 W.Snake N. Wilson 382.5 - 0% 382.5 - 0% 2 -
4 W.Snake S. Wilson 740.0 - 0% 740.0 - 0% 1 -
5 Skyline Rch/Sagebrush 503.4 519.2 -3% 510.0 495.0 3% 12 6
6 E. Gros Ventre Butte 85.0 890.0 -90% 85.0 660.0 -87% 1 4
7 N of Gros Ventre Jct - 390.0 -100% - 390.0 -100% - 1
8 Town of Jackson 468.4 466.5 0% 415.0 367.3 13% 87 106
9 So of Jackson to Bridge 402.2 319.4 26% 441.8 285.0 55% 8 7
10 So of S.R. Bridge - - 0% - - 0% - -
Area
# Area 2014 2013 % Chng 2014 2013 % Chng 2014 2013
1 Teton Village 4,711.3$ 4,951.4$ -5% 4,437.5$ 3,258.0$ 36% 6 11
2 Racquet Club/Pines 2,279.1 2,140.5 6% 2,050.0 1,512.5 36% 11 22
3 W.Snake N. Wilson 1,792.7 2,062.4 -13% 1,492.5 1,650.0 -10% 26 21
4 W.Snake S. Wilson 2,068.8 2,698.8 -23% 1,225.0 1,686.3 -27% 20 10
5 Skyline Rch/Sagebrush 2,040.6 3,287.3 -38% 1,800.0 1,900.0 -5% 9 26
6 E. Gros Ventre Butte 5,017.9 4,212.5 19% 5,017.9 4,212.5 19% 2 2
7 N of Gros Ventre Jct 1,471.4 2,077.7 -29% 1,200.0 1,100.0 9% 13 15
8 Town of Jackson 966.0 665.9 45% 810.0 565.0 43% 45 68
9 So of Jackson to Bridge 1,413.8 782.8 81% 937.5 705.0 33% 37 64
10 So of S.R. Bridge 1,461.2 927.5 58% 850.0 619.0 37% 21 16
Teton County, WyomingAreas 1 through 10
Residential - Condo & Townhome
Average Prices Median Prices Unit Totals
Year to Date - December 2014 Vs. 2013
Residential - Single Family
Average Prices Median Prices Unit Totals
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Listings
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Total listings fell 12% vs. January, 2014 as units priced: Less than $850k declined by 19%. Between $850k and $3 million fell 5% Above $3 million inventory declined 10%.
Source: TBOR MLS
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Teton County, WYActive Listings by Price Category
< $850,000 $850K - $1.5 M $1.5 M - $3.0 M $3.0 M - $5.0 M > $5.0 M
$3 - $5 million
> $5 million
< $850,000
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Active Listings* & Absorption# Rate
Absorption#
Price Category Inventory Rate in Months
< $850 175 8 ( -2)
$850 - $1.5 M 107 12 (-10)
$1.5M - $3.0M 88 17 ( -8)
$3.0M - $5.0M 45 18 ( -8)
> $5.0M 59 51 ( +5)
Total 474 12 ( -4)Excludes Commercial Properties
* Listing data as of 1/31/15.# Avg. number of months to sell a property at current (12 month avg.) sales pace. (Change inabsorption rate (+/-) since September, 2014).
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January listings fell 21% since the last report in October.
Teton County, WY
2015 2014 Amount Percent
Active Listings
Teton Village 105 101 4 4.0%
West of Snake River 96 131 (35) -26.7%
North of Town 110 125 (15) -12.0%
Town of Jackson 62 63 (1) -1.6%
South of Town 101 116 (15) -12.9%
Total Teton County 474 536 (62) -11.6%
#Includes: Residential, Building Sites, and Farm & Ranch.
Active MLS Listings#
January 2015 Vs. 2014
2015 Higher/(Lower)
End of Month - January Than 2014
Areas 1 thru 10
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Summary
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Teton County, WYYear End -- 2014 vs. 2013
• Total units sold fell 11% vs. 2013.
Condo units declined 5%. (Fractional units rose 57%)
Single family units fell 26%.
Commercial units rose 25%.
• Sales volume declined 8%.
Condos fell 5%.
Single family home sales volume declined 23%.
Land / Farm & Ranch rose 22%.
Commercial properties nearly doubled increasing 98%.
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Teton County, WYYear End -- 2014 vs. 2013
• Average sales prices 4% higher.
Condo prices unchanged.
Single family up 4%.
• Median prices saw an overall rise of 16%.
Condo prices were up 4%.
Single family jumped 33%.
Vacant land was 8% higher.
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Teton County, WYYear End -- 2014 vs. 2013
• Properties selling below $1.5 million:
Sales and unit volume each fell 15%.
• Properties selling over $1.5 million:
Sales volume fell 2%.
Unit volume increased 13%.
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Teton County, WYYear End -- 2014 vs. 2013
• Condo market represented 50% of residentialunits sold -- up 6 percentage points vs. 2013.
The Town of Jackson, with 87 units, made up 46% ofcondo sales & the Racquet Club 18%.
Average prices in the Racquet Club gained 23%.
The Village reported an 8% decline in condo/fractionalsales. Fractional units rose 57% while condo units fell32%.
- Condo prices rose 23% fractional prices up 33%.
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Teton County, WYYear End -- 2014 vs. 2013
• Active listings declined 12%.
The Village rose slightly, up 4%
West of the Snake – declined 27%.
North of Town and South of Town fell 12%
Town of Jackson declined 2%
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Thank You