Browsing Posts published in March, 2009

The Jackson Hole Real Estate market has seen a +/- 95% decrease in sales volume  over the last three months when compared to 2007.   

Teton County has seen 13 closings from January 1st through March 17th.  

104 New Listings

Closings and Pendings of note:

Town of Jackson -

The 25,699 sqft  Buffalo Junction commercial building closed at $8,200,000 It was listed at $8,700,000

Teton Village

2200 Sq foot Moose creek stand-alone townhome listed originally for $2,100,000 closed at $1,479,000

2200 sq foot Granite Ridge cabin went under contract at a reduced list price of $1,895,000

Click the link below to see all of the closed properties.
http://www.flexmls.com/link.html?opartf0wl3g,10,1

 This link is valid until 4/16/2009.

Here is the data of our current year to dates real estate activity

             
  Area Current Active New Pend Sold  Sold Volume 
  1 – Teton Village  151 70 27 2  $                     1,609,000.00
  2 – Racquet Club/Teton Pines  49 20 1 1  
  3 – W Snake N of Wilson  31 9 0 0  
  4 – W Snake S of Wilson  28 8 0 0  
  5 – Skyline Ranch to Sagebrush Dr  28 9 0 0  
  6 – East Gros Ventre Butte  7 3 0 0  
  7 – N of Gros Ventre Jct  25 9 0 1  $                     1,475,000.00
  8 – Town of Jackson  133 62 3 3  $                    2,453,000.00
  9 – South of Jackson to Snake River Bridge  66 17 1 3  $                      1,910,000.00
    518 207 32 10  $    7,447,000.00
             
             
             
Building Site 1 – Teton Village  10 2 0 0  
Building Site 2 – Racquet Club/Teton Pines  0 0 0 0  
Building Site 3 – W Snake N of Wilson  17 4 0 0  
Building Site 4 – W Snake S of Wilson  12 1 0 0  
Building Site 5 – Skyline Ranch to Sagebrush Dr  28 8 0 0  
Building Site 6 – East Gros Ventre Butte  8 1 0 0  
Building Site 7 – N of Gros Ventre Jct  29 2 0 0  
Building Site 8 – Town of Jackson  22 6 1 0  
Building Site 9 – South of Jackson to Snake River Bridge  23 5 0 0  
Commercial 4 – W Snake S of Wilson  0 0 0 0  
Commercial 8 – Town of Jackson  35 16 5 3  $                   12,392,000.00
    184 45 6 3  $  12,392,000.00
             
GRAND TOTALS 702 252 38 13  $  19,839,000.00

 

If you have any questions about the real estate market please give us a call

 If there is any additional data or information you would like please feel free to email me at rick@rarejh.com

Expect to find no fluff here. The promise I make is that I work specifically for my clients best interest and not my own. My focus is not on todays commission for myself, but rather, earning the trust of my clients and guiding them in making informed decisions.

Currently, my take of the Jackson Hole Market is that we are experiencing a lull due to sellers being slow to drop prices and buyers not finding value. What you will find  in the following charts is data based statistics from the last two years, my summary of the numbers followed by my forecast. The forecast is purely based on two decades of following the Jackson Hole Real Estate Market.

As a whole, I do not think the prices in Jackson and Teton County reflect the reality that is about to hit. Though, there are occasional exceptions. It isthese exceptions that I will focus on finding for my clients.

The trend is pointing towards distressed sellers. The combination of the national economy falling into a deep recession, tight credit markets, and loss of wealth has started and will continue to force property owners to sell.

This is information that I have personally compiled. If there are other statistics you would like to see please email me.

Owner – Broker
Rick Armstrong