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May sales for Jackson Hole reaches 21 units, $28 million

By   /  May 21, 2010  /  2 Comments

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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.

Call or e-mail anytime with questions or more information.

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2 Comments

  1. […] Last I checked, May real estate sales for Jackson Hole were strong with 21 closings after the first three weeks. A preliminary look at the last 10 days of the month shows another 9 closings totaling approximately $8.6 million, bringing the monthly total to approximately $37 million. […]

  2. […] After 23 sales in April for a total sales volume of approximately* $32 million, Teton County sales in 2011 now exceed $122 million, not far behind the $130 million recorded during this time period in the final “bubble” year of 2008. April 2011 also easily outperformed April 2010, when 18 sales totaled $18.5 million in sales. […]

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