It’s a little early to guess if November’s total number of closings will exceed the 2009 high of 29 recorded in October, but it appears unlikely. So far this month there have been eight closings in Teton County and eight new pending sales, with 60 pending sales overall. Additionally, barring a few big-ticket closings in the last week of the month, total sales as reported to the Teton County...
Hotsheet Highlights
Today’s Hotsheet provided a microcosm of what has definitely become a trend in the last several weeks – new listings in Teton County are slowing to a trickle while closed and pending sales are steadily increasing. A review of Multiple Listing Service activity in the last 24 hours shows just one new listing, compared to two closings and 4 under contract listings. The under contract listings...
The least expensive free-market home in Melody Ranch went under contract over the weekend after 448 days on the market. Originally listed at $1,075,000, this 4-bed, 2.5-bath, 2,137-square-foot home on .35 acres was listed for $835,000, a discount of at least 22.7 percent. For perspective, this home closed for $570,000 in September 2002. This continues what has been a dramatic downturn in values during...