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Teton Pines Clusters units sees NEW listing, PRICE CUT and PENDING

By   /  April 29, 2010  /  No Comments

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The 16th hole at Teton Pines is one of Jackson Hole's most scenic tee shots. The Teton County Multiple Listing Service has reported a good bit of activity in this golf community both this week and during the past six months. Course opens for the season on Saturday.

Coincidentally, there were three Teton Pines Clusters homes on the Teton County Multiple Listing Service daily hotsheet this morning.

  • A 4-bed, 4-bath, 2,938-square-foot Clusters home built in 1985 – one of Teton Pines’ very first – is new to market today at $1,650,000.
  • A 5-bed, 5-bath, 5,806-square-foot Clusters home built in 1989 was reduced in price to $2,300,000. This has been foreclosed upon and is now bank owned. Originally listed 122 days ago at $2,585,000.
  • A 4-bed, 5-bath, 3,658-square-foot Cluster home built in 1995 went under contract after 10 days on market at a list price of $1,740,000.

The Clusters units were some of the first homes built in the Teton Pines subdivision on the West Bank of the Snake River beginning in 1985. The Arnold Palmer-designed course began play in 1988.

Clusters units range widely in size and style, though most are at least 4-bed, 3,000-square-foot-plus homes. However, there has been a good bit of activity in this market that helps put this market in perspective.

The high sale was $2.9 million in August 2008 for a 4-bed, 5-bath, 3,634-square-foot Cluster home built in 2007. One a bit bigger built in 1991 sold for $2.8 million in October 2007.

However, it is clear the market for these has moved closer to $2 million and below than nearly $3 million. In fact there have been three closings of Clusters units in the past six months, two at $1.65 million and the third at $1.6 million.

Contact me for a closer look at the specific units available in Teton Pines or a broader look at golf course properties throughout Jackson Hole, including at Jackson Hole Golf & Tennis, Shooting Star, and 3 Creek Ranch.

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