For the first time since 2007, Jackson Hole real estate unit sales reached 100 during the first four months of the year.
After 23 sales in April for a total sales volume of approximately* $32 million, Teton County sales in 2011 now exceed $122 million, not far behind the $130 million recorded during this time period in the final “bubble” year of 2008. April 2011 also easily outperformed April 2010, when 18 sales totaled $18.5 million in sales.
So once again a look at monthly sales, according to Teton County Multiple Listing Service, and quarterly trends reveals a strengthening real estate market for Jackson Hole.
April sales were led by the closing of a 7,996-square-foot home on 28.5 acres in Crescent H that was listed for $10.7 million. The final sales price was not reported, as was the case with a 3.1-acre building site in Schofield Patent listed for $1.495 million. (* Sales volume for April includes 90 percent of list price for these two properties.)
The Crescent H home was originally listed for $15.9 million and sold after 912 days on market. The building site was on market for 627 days, originally listed for $1.75 million.
Additional highlights from April sales include:
- Six sales between $375,000 and $475,000, a price range that signals increased activity in the lower end of the single-family market.
- Two sales in Skyline subdivision for $825,000 and $1 million.
- Five building site sales, with the least expensive a 2.6-acre lot in Riverfront subdivision listed for $860,000.
- A Hotel Terra 3-bed unit after 805 days on market for approximately 50 percent less than the original list price of $2.5 million.
- A Four Seasons penthouse sold after 242 days on market for approximately 30 percent less than the original list price of $4.495 million.
May sales already are off to a fast start, with the pending sale of a Bar BC Ranch 35-acre building site listed for $10.9 million and four closed sales below $785,000. Contact me for a closer look at April sales, an in-depth look at Q1 2011 figures or a personalized look at the Jackson Hole real estate market.
