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Teton County sales average highest in West

By   /  December 3, 2009  /  No Comments

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This graph illustrates that while sales volume and units sold were down markedly in Teton County, WY, during the third quarter 0f 2009, the average sales price dipped only slightly from the high of 2008.

This graph illustrates that while sales volume and units sold were down markedly in Teton County, WY, during the third quarter 0f 2009, the average sales price dipped only slightly from the high of 2008.

The Western Mountain Resort Alliance (formerly known as the Rocky Mountain Resort Alliance) released third quarter real estate statistics for 12 resort communities similar to Teton County, WY, from Whistler, BC to Steamboat, CO.

Overall, this mountain of statistics mainly compares apples to oranges and is of little direct value to someone focused on buying and selling real estate in Jackson Hole (or any of the individual communities) but a few items seemed worth passing along.

  • Teton County was near the bottom in total units sold during the first three quarters of 2009 with 108 (Telluride recorded 102 and Big Sky just 87) but had the highest average sales price at $1.37 million.
  • Vail, CO, led all communities in total volume sold with $578 million on 560 total units sold for an average sales price of $1.03 million, nearly quadrupling Teton County’s $148 million.
  • While Grand County, CO, had by far the most active listings with 3,527, the region has just 190 licensed real estate agents, the fourth least among the dozen communities. Teton County reported 626 agents, Vail 734, and 834 for Park City, UT, the most.

The graph above represents third quarter stats for Teton County, WY, from 2006 to 2009. These also are broad-brush numbers but do a good job of reminding us of where we were, how we arrived at this point and perhaps indicating where the market is heading.

  • Listings were at historical highs with the total spiking above 900 for much of the third quarter compared to approximately 700 this time last year and less than 500 in 2006 and 2007. Current active listings number approximately 850.
  • Total number of units sold fell well below 100 in 2009, compared to more than 400 in 2006 and 2007.
  • Total volume sold barely topped $100 million in 2009 during the traditionally strongest quarter that saw nearly $400 million in 2008 and more than $600 million in 2007 (a record).
  • Average sales price, on the other hand, has edged only slightly down from its high of nearly $1.6 million in 2008 to $1.37 million, approximately the same as 2007.

Contact me for a copy of the entire report or a more complete analysis with a focus on Jackson Hole real estate.

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