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...
Hotsheet Highlights
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...