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June sales hit 21 in Teton County

By   /  July 11, 2010  /  No Comments

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Teton County sales in June 2010 averaged $1.4 million for 21 units sold. Coincidentally, $1.4 million is also the average sales price for the 120 sales year to date.

Three sales reported in the last two days of June helped push total unit sales to 21 and sales volume for the month to $29.9 million. These included 14 residences, five building sites and two commercial transactions.

The good news is that June sales in 2010 exceeded June 2009 by five sales and more than twice the volume; the not-too-good news is that last month represented a slight cooling of the market after May’s 31 sales and $35.7 million in sales. In the big picture, however, the market continues to show stability and consistency, if not the vibrancy of the years between 2004 and 2008.

Other statistical highlights of the Jackson Hole real estate market from recent weeks include:

  • Year to date, unit sales have increased 103 percent (120) and sales volume has increased 105 percent ($165.3 million) compared to 2009.
  • Looking back over the last decade, 2010 compares closest to 2003, the second slowest year since 2002. The year 2007 is the benchmark, with 308 unit sales and $382.7 million in sales through the first two quarters.
  • For the first time in years (in fact the first time in memory for those keeping track) the amount of sales reported by Teton County Multiple Listing Service – the source for all statistics on this Web site and this post – is exactly the same as reported internally at Jackson Hole Sotheby’s. For context, monthly sales reported through MLS are usually approximately only 80 percent of total sales within the brokerage.
  • Average sales price in June was $1.4 million, which is approximately the same as the average sales price year to date in Teton County.
  • June 2010 included eight sales greater than $1 million compared to just three in June 2009.
  • June’s top sale was a $6.1 million commercial property in Town of Jackson; the top residential sale was a $5.4 million home in Spring Creek Ranch.
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