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December SOLD and PENDED, so far

By   /  December 28, 2009  /  No Comments

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Not surprisingly, the Teton County Multiple Listing Service daily hotsheet has been somewhat cool in the last week as focus has been on the holidays, family and travel.

So I took a look at the activity so far in December. Highlights include:

  • There have been eight December closings in Teton County for a total sales volume of $4 million, or an average of $500,000.
  • One of the closings included an unreported sales price on a home in East Jackson listed at $739,500. For my figures I plugged in a sales price of $665,000, or 90 percent of list price. It is always helpful to remember that approximately 20 percent of all sales in Teton County are done outside of the Teton County Multiple Listing Service
  • There were six new under contract (pended) listings in December with a total list price of $3.1 million. Again, the average sales price for these units will be approximately $500,000.
  • Overall, there are 42 pending properties in Teton County, but 17 are in Hotel Terra 2.

Look here and here to see how December will shape up compared to November and December of 2009. One obvious takeaway is that the average sales price has been well below $1 million in recent weeks and months, a significant dip for this market from recent years.

I’ll revisit December numbers in mid-January after the final numbers have been tallied, including a look at how the final quarter of 2009 compared to 2008 and the bubble years of the decade.

I’ll also do a complete roundup of 2009 sales. Sneak preview on the conclusion: On the one hand, 2009 was one of the weakest real estate markets in decades in Jackson Hole. On the other, considering the improving economy and the momentum from the final quarter of 2009, it is almost guaranteed 2010 will be considerably better than 2009.

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