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Hotsheet Highlights for Feb. 8, 2010: 7 properties under contract in JH, Alpine

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Today’s Teton County Hotsheet is indeed smokin’ with three Teton County and four Alpine (northern Lincoln County) properties reported as under contract since Friday. These PENDING contracts represent $5.32 million in total list prices.

It was also very encouraging to see only one NEW listing – a very nice Teton Village condo unlike anything on the market, which means it is not a redundant addition to the inventory – in Teton County today. Also, there were several significant PRICE REDUCTIONS that helped tighten micro-markets with inventories too disparate in price.

Not to try and predict the bottom of the market or promote irrational exuberance, but increased sales, a shrinking inventory and falling prices are signs of an ideal buying environment.

Today’s Teton County PENDING listings, which represent $3.81 million in total list prices, include:

  • A 5-bed, 3-bath, 3,608-square-foot home near Snow King Resort in Jackson built in 1991. Originally and still listed at $1.69 million after 385 days on market.
  • A 3-bed, 2-bath, 2,868-square-foot home in the Centennial subdivision (near Jackson Hole Airport) on 3 acres built in 1993. Listed at $1.39 million after 276 days on market, originally listed at $1.55 million.
  • A 3-bed, 2-bath, 1,688-square-foot home on 2.5 acres built in 1978 in South Park Ranches. Listed at $739,000 after 47 days on market, originally listed at $824,000.

In Alpine, located about 45 miles south of Jackson via Snake River Canyon, there were four significant pending sales reported that represent $1.5 million in total list prices.

While I specialize in Teton County properties and that is the main thrust of this Web site, I do follow the Alpine market closely. Contact me for details on these listings or information about available properties in this community.

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