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June sales signal strong summer

By   /  July 5, 2011  /  No Comments

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Summer is off and running in Jackson Hole with a strong start to the busiest season for real estate and fabulous weather.

June was yet another solid month for real estate sales in Jackson Hole, with 20 residential closings reported for a total sales volume of approximately $23 million.

Additionally, there were six building site sales reported to Teton County Multiple Listing Service for approximately $11 million in volume. Leading the way was the sale of Ranch 6 at Bar BC Ranch, which was listed for $10.9 million, though the final sales price was not reported.

I will post a look at how the second quarter and first half of 2011 stack up later this month when the internal Sotheby’s research is released. But for now, highlights from last month’s sales include:

  • Melody Ranch recorded three closings in June between $674,900 and $922,500.
  • There were six sales in Town of Jackson, including an Eagle Village condo for just north of $250,000 that was the least-expensive sale of the month in Teton County.
  • After 698 days on market, a 3-bed, 2-bath, 1,700+ square foot home in Rafter J sold for about 27 percent off original list price.
  • Teton Village saw four strong sales, including a 2-bed unit in Four Seasons, a 2-bed Granite Ridge cabin, a 2,100+ square foot Crystal Springs condo and a Moose Creek Townhome, all between $1.25 million and $1.6 million.
  • The six lot sales make 34 in the last 12 months, which is a far cry from the 77 building site sales between July 1, 2007 and July 1, 2008 but continues a modest upswing in this segment. This figure dipped to 22 sales between July 2008 and July 2009, climbing slightly to 28 the subsequent year.
  • The Bar BC Ranch sale was the second in the last six months for this premier neighborhood with lots no smaller than 35 acres.

Contact me with questions about this post, to discuss the latest market trends or for a personalized look at Jackson Hole real estate.

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