Coincidentally, there were three Teton Pines Clusters homes on the Teton County Multiple Listing Service daily hotsheet this morning.
- A 4-bed, 4-bath, 2,938-square-foot Clusters home built in 1985 – one of Teton Pines’ very first – is new to market today at $1,650,000.
- A 5-bed, 5-bath, 5,806-square-foot Clusters home built in 1989 was reduced in price to $2,300,000. This has been foreclosed upon and is now bank owned. Originally listed 122 days ago at $2,585,000.
- A 4-bed, 5-bath, 3,658-square-foot Cluster home built in 1995 went under contract after 10 days on market at a list price of $1,740,000.
The Clusters units were some of the first homes built in the Teton Pines subdivision on the West Bank of the Snake River beginning in 1985. The Arnold Palmer-designed course began play in 1988.
Clusters units range widely in size and style, though most are at least 4-bed, 3,000-square-foot-plus homes. However, there has been a good bit of activity in this market that helps put this market in perspective.
The high sale was $2.9 million in August 2008 for a 4-bed, 5-bath, 3,634-square-foot Cluster home built in 2007. One a bit bigger built in 1991 sold for $2.8 million in October 2007.
However, it is clear the market for these has moved closer to $2 million and below than nearly $3 million. In fact there have been three closings of Clusters units in the past six months, two at $1.65 million and the third at $1.6 million.
Contact me for a closer look at the specific units available in Teton Pines or a broader look at golf course properties throughout Jackson Hole, including at Jackson Hole Golf & Tennis, Shooting Star, and 3 Creek Ranch.
