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Hotsheet Highlights for week of Feb. 14, 2010: $4.9M in sales, 4 PENDING, notable NEW listings

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A CLOSED sale in Wilson for $4.05 million highlights this week’s Teton County Multiple Listing Service Hotsheet activity, as well as more than $2.3 million in PENDING sales.

Additionally, the link above includes a handful of notable new listings and price reductions indicative of the direction of the Jackson Hole real estate market.

In short, prices continue to come down and overall inventory continues to dwindle slightly or remain static as many of the listings that are coming on the market in recent weeks and months are in fact properties that were listed at some point during the last year but were withdrawn after not selling.

Highlights include:

  • A 5-bed, 5-bath, 6,203-square-foot home in Hardeman Ranch near built in 2009 closed at $4.05 million. Originally listed at $4.985 million, sold after 195 days on market.
  • A 4-bed, 4-bath, 2,763-square-foot home in Indian Trails built in 2001 closed at $897,500. Originally listed at $975,000, sold after 150 days on market.
  • A 5,736-square-foot building in Rafter J in a “local convenience commercial district” is under contract after 367 days on market. This is the log building on Big Trails Drive just past River Rock Lodge. List price is $1.25 million, originally listed at $1.45 million.
  • A 1-bed, 1-bath, 766-square-foot condo in the Aspens/Racquet Club listed at $245,000 after 414 days on market is under contract. Originally listed at $419,000. This is a short sale subject to bank approval.
  • Two lots in East Jackson on Dylan Drive (this is just north of Pioneer Homestead near the corner of Rancher and Hansen) are under contract. These approximately 0.16-acre lots are listed at $429,000 and $459,000 and have seen no price reductions after 105 days on market

Contact me for more information on the context of this activity or to discuss the price reductions and new listings included in the above link.

Have a great weekend!

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