How hot is Jackson Hole real estate? Muy caliente, mi amigo, muy caliente.
With all the hustle and bustle of mid-June in Jackson Hole, the month of May seems like a very long time ago. However, the reported sales from that month are worth revisiting as Teton County sales soared to 61 units closed for a total sales volume of approximately $71.88 million.
This represents a unit increase of 90 percent and a volume jump of 81 percent compared to May 2012. And coming on the heels of 45 sales in April and a strong Q1, there is little reason to think this summer will not continue to see a very vibrant market for Jackson Hole real estate. Please contact me to discuss the market dynamics driving sales and strategies for buyers and sellers.
Highlights from the previous month’s sales, according to Teton County Multiple Listing Service, include:
- The return of the sub-$200,000 sale, with three closings below this amount. Two were in Town of Jackson with the third a 500-square-foot studio in Teton Village listed for $225,000.
- The average days on market were 314, but 12 homes sold in less than 64 days, including this home in Gill Addition LINK. The fastest sale was just 8 days after hitting the market.
- Teton Village remained vibrant with six sales, including a 4-bed Granite Ridge Lodge listed at $3.35 million and a single-family home near the slopes of Jackson Hole Mountain Resort listed for $5.95 million.
- Town of Jackson continued a torrid run of sales in the last year with 25 closings, including 4 of the 9 building sites. Subdivisions seeing sales include Karns Hillside, Daisy Bush and East Jackson.
- The top sale was a 6-bed, 7-bath, 7,464-square-foot home located near Jackson Hole Airport along the Snake River listed for $11.5 million.
June also is extremely active thus far with 22 closings to date and a slew of under contract properties. Low-end inventory is slowly increasing, including multiple listings in Cottonwood Park, Creekside and Elk Run, but these properties continue to see significant pressure with multiple showings immediately after hitting the market and sales prices at or above asking in cases where the property is well-priced.
Please contact me for an up-to-the-minute look at available properties, including those not yet listed.
