After nearly two years since the last sale of a building site in Melody Ranch, a new listing today for a .33-acre lot in Melody Ranch for $399,000 turns back the clock to August 2005. It was during that month that eight building sites in this neighborhood sold for between $370,000 and $395,000. By September 2005, the price for one of these lots – nearly all between .3 acres and .7 acres – had risen...
Neighborhood analysis
Today’s open house schedule included five of the seven active listings in the Game Creek-Squaw Creek area. Located approximately 7 miles south of Jackson, this area is characterized by horse-friendly properties that average about five acres on rolling, sparsely treed terrain. Just 20 minutes from Jackson, this area never ceases to impress with its open spaces, privacy and variety of homes. However,...
A price reduction reported on today’s Hotsheet on a 3-bed, 2-bath, 1,360-square-feet single-family home in Rafter J is a microcosm of how far values in this neighborhood have fallen. Now listed at $459,000, this home last sold in August 2007 for $600,000, which was $32,500 above the list price, after 67 days on market. In May 2008 it was relisted at $795,000, but did not sell after 371 days on market...
After last weekend’s close of a 1-bed, 1-bath, 766-square-foot unit in the Aspens/Racquet Club at $220,000, I took a closer look at this market segment. A quick look reveals this is the lowest price since October 2005 for what is perhaps the most common unit in this neighborhood dominated by short-term rental properties. Going back to this date in 2004, there have been 66 sales of these units that were...