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Hotsheet Highlights, March 1, 2010: 3 weekend sales boost February figures

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Today’s Teton County Multiple Listing Service Hotsheet includes three closings that occurred on Friday for a total sales volume of $2.185 million. For the month of February, this makes 13 closings for a preliminary total sales volume of approximately $24.712 million**.

Like January, February’s numbers will look pretty darn good compared to 2009, which was one of the worst first quarters in more than a decade for Jackson Hole real estate sales. After all the sales are in I’ll follow up with some specific year-over-year numbers, for whatever they are worth.

For now, here are the details on last weekend’s three sales:

  • A 2-bed, 3-bath, 1,697-square-foot Garden Home in Teton Pines built in 1995 closed at $950,000. Originally listed at $1.2 million, sold after 334 days on market.
  • A 3-bed, 2-bath, 1,688-square-foot home in South Park Ranches on 2.5 acres originally built in 1978 closed at $685,000. Originally listed at $739,000, sold after 65 days on market.
  • A 3-bed, 2-bath, 1,584-square-foot home in Rafter J on .29 acres originally built in 1989 closed at $550,000. Originally listed at $750,000, sold after 318 days on market.

Once again, two of the three sales follow a recent trend of properties selling only after more than eight months on the market and price reductions of about 25 percent or more. The South Park Ranch sales represents the other type of property that has been selling lately – a new or reintroduced listing at a price that makes no effort to recapture any of the glory of 2006 and 2007.

Contact me for a more detailed look at these sales or their neighborhoods.

** The sales total for February is approximate because the price for one of the 13 sales, a 6,511-square-foot ski-in/ski-out home in Teton Village’s Granite Ridge neighborhood listed at $6.995 million, was not reported. To reach an approximate sales number I assumed a sales price of $6.295 million, which is 10 percent below list on a property that was on the market for 389 days with no price reductions during that time.

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