A flurry of closings in the past week has bumped the monthly totals for Jackson Hole real estate sales in May, as of today, to 21 units for a volume of approximately $28.5 million.*
Additionally, there are currently 14 pending properties with list prices totaling more than $27 million, which bodes well for June and the rest of May. All figures are according to Teton County Multiple Listing Service.
Bottom line: Jackson Hole real estate remains on a roll, with a steady increase in sales dating back to fourth quarter 2009. By no means is the market rebounding as sharply as it fell between mid-2008 and the subsequent year, but the evidence continues to mount that we have stabilized and are poised for growth. Contact me for detailed month-to-month sales analysis for the overall market and for different segments.
Highlights from this month’s sales include:
- A Four Seasons slopeside unit with 3 beds (really 4), 5 baths, and 3,440 square feet for $4.059 million.
- * A 4-bed, 5-bath, 4,890-square-foot home in Tucker Ranch for an undisclosed sales price, though the list price was $4.75 million, unchanged after 328 days on market. The unreported sales price explains why the sales figure in the first graph is approximate.
- A resurgence in “high-end” properties with 8 sales north of $1 million. These homes were pulling much of the weight in the market in January, February and March, but slowed in late March and April.
- Continued strength in the Jackson Hole “mid-market” of single-family homes with 7 sales between $500,000 and $1 million.
- The first Cottonwood Flats 3-bed unit closed for $453,000, approximately 10 percent of list of $495,000. As regular readers know, I am a fan of this new development when it comes to value and quality. (And no, I am not involved in any way except as a buyer’s agent!)
- A 3-bed, 3-bath, 2,713-square-foot home on Spruce Drive listed once upon a time at $1.395 million sold for $750,000 after almost three years on the market.
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