February doesn’t begin until Monday, but why wait until next week to find out what kind of month January was for real estate sales in Jackson Hole? With a quick search of the Teton County Multiple Listing Service, we see there have been 11 recorded sales so far this month with two significant closings this week.
One more closing and January 2010 will see a 300 percent increase over the four sales in January 2009! Of course this is a nearly meaningless statistic as the first quarter of 2009 was so weak for sales.
So be forewarned that this probably won’t be the last time you will see a headline touting a significant rise in sales over the previous year, but without the exclamation point providing a clue as to its absurdity. Have no doubt the market is significantly more stable and dynamic than it was a year ago and the trends are favorable, but take any hype you may hear in the coming weeks and months with a grain of salt
The two sales this week include:
- A 3-bed, 3-bath, 2,620-square-foot home on 2.23 acres in Crescent H for $2.1 million. This home is shown as having been on the market for 163 days with an original list price of $2.85 million, but was in fact on the market for the 346 days before that by the same owner beginning at $3.125 million. Final sales price is 33.6 percent off original list.
- A Four Seasons private residence with 3 beds, 5 baths, 3,577 square feet and all the amenities this premier property has to offer. Originally listed 149 days ago at $3.975 million, discounted just 4 percent.
Beyond that our office has been involved in several significant transactions outside of the MLS this month, confirming a level of activity that is consistent and involving all segments of the market.
Interested in January’s significant NEW listings and most dramatic PRICE REDUCTIONS? Contact me for a personalized list.