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Monthly sales streak in jeopardy

By   /  June 23, 2010  /  No Comments

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With just nine sales reported so far for the month of June, Teton County's streak of consecutive months with higher sales than the previous year could be coming to an end.

For the first time this year, monthly sales of real estate in Jackson Hole are in danger of not outperforming the same month in 2009.

As of the 23rd, June sales reported by the Teton County Multiple Listing Service total just nine with a total sales volume of $5.165 million. June 2009 included 16 sales for $14.2 million in sales volume.

May 2010 was strong for real estate sales in Jackson Hole, with 31 sales compared to 15 during the same month in 2009. Similarly, April’s 19 closings were up nine from 2009, March’s 27 sales were 16 more than in 2009 while January and February easily outpaced dismal 2009 numbers for these months.

Why the pause? It’s hard to say it is even significant with such a short period of time and relatively few numbers to consider. And there are currently 32 properties under contract with total list prices exceeding $50 million, not including the 13 Hotel Terra 2 units still under contract. But if June sales do not increase dramatically in the next week, the month will bring to an end a winning streak dating back to last year.

Some highlights from the Teton County closings so far this month include:

  • A 3-bed, 2-bath, 1,221-square-foot home in Cottonwood Park sold for $525,000. That’s $429 per square foot.
  • A 3-bed, 2-bath, 1,507-square-foot condo in Iron Rock sold for $660,000. Was on the market for 329 days but only came down $15,000 from original list price.
  • A 2-bed, 2-bath, 1,607-square-foot downtown Jackson condo listed for $1.095 million sold for $905,000. Was on the market in 2009 for $1.2 million before being reintroduced this year.
  • The deal of the month may have been the 6-bed, 6-bath, 5,998-square-foot Teton Pines home on 1.89 acres that sold for $2.75 million. This new home was originally listed for $4.75 million in July 2008.

Contact me for a link to these properties or a personalized Jackson Hole real estate property search.

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