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...
Multiple Listing Service
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...
Recently reported statistics from October show the month was the best of the year for Teton County real estate, with 29 units sold through the Multiple Listing Service for $37.27 million. Only March and July of this year also saw sales higher than $16 million, with each recording sales of approximately $33 million. On the other hand, 2009 is sure to be one of the slowest years for real estate sales in...