What’s happening For Teton Couty and Jackson Hole Real Estate- What a sweet day! A little rain storm rolled through last night. Flowers are booming and the air smells fresh. Looking over the last 1/2 year in Jackson Hole real estate I am somewhat astonished. If you were to read USA Todays reports on the home market you would think that it must be leveling off here. It has not been the case. The low end of the market, meaning properties under $700,000 (somewhat bewildering that I call that the “low end”) are flying off the shelf. We have seen a total number of sales decreasing while the overall dollar of sales region wide is $11,000,000 higher than last year. What does this mean? It means that the price is still going up.
In Teton Village real estate we saw both two of the highest price transactions ever for single family homes. The first was the $11,900,000 Ski In/out Granite Ridge House that was on the market for less than 35 days that sold for $11,500,000 and the the other listed listed at 12,890,000 sold at an undisclosed price. We also saw a Four Seasons top of the line unit sold at an undisclosed price but I know it to be in the $4.8 to 4.9 region. Currently there are only 19 condos on the active market in Teton Village.
For single family homes in Teton Village there are only 4 (yes that’s right 4) active single family homes on the market . One is a tear-down ski in/out listed at $3.450,000 one of the others is 100 acres listed at $37,500,000 . Not a lot of options.
The Town of Jackson Real estate market is ultra low on inventory as well. Total units on the market is 37. 18 Homes and 19 Condos.
The Lowest priced unit is priced at $512,000!!! it is a 2br 2 bath 1018 sqft townhome in downtown Jackson. The Lowest priced single family home is a $798,000 home 4Br 2 bath 2000+square foot home also in central downtown Jackson. A 3700 sqaure foot home just went under contract with an asking price of $1,695,000.
Average price for on sold single Family homes so far this year is $815,000
Average Sales Price for Sold Condos $415,000 up from $395k in2006
I have piles of data and tables - If you would like my private news letter please email me at info@rarejh.com and I will build you statistics on whatever you want to know about.
Cheers, Rick Armstrong
