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Jackson Hole real estate losing streak ends at one month

By   /  August 31, 2010  /  No Comments

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With another full day left before the end of August, it appears real estate sales in Jackson Hole for the month will exceed those for the same month in 2009. This is significant because July marked the first month this year when sales failed to exceed those in the previous year.

According to Teton County Multiple Listing Service, there have been 17 sales of residential units and building sites in Jackson Hole thus far in August for a total sales volume of approximately $20.1 million. August 2009 included 17 sales for $15.874 million. I expect another closing or two in August that will be reported in the next few days, which will push the monthly numbers past last year’s in both units sold and sales volume.

Average sales price for the month, however, was down from July’s mark of $1.552 million to $1.188 million. This is encouraging in that there was more activity at the lower end of the market, a segment that has been stagnant of late.

Highlights of August sales include:

  • A 428-square-foot studio in the town of Jackson that sold for $139,000, the least-expensive home sale in Jackson Hole since February 2000.
  • A 2-bed, 1-bath condo sale in the town of Jackson for $210,000.
  • Additional town of Jackson sales at $343,000, $525,000 and $650,000, which translate to per square foot totals, respectively, of $237, $230 and $345.
  • The month’s top reported sale was a building site in Shooting Star for nearly $4 million. The highest residential sale was $2.75 million for a Wilson home on Fish Creek.

A full report of all August sales will be available in approximately two weeks. To receive a copy of the Sotheby’s internally produced report please contact me at TetonRealtyToday@gmail.com and I will add you to my mailing list.

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