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August sales as extreme as Jackson weather

By   /  September 7, 2011  /  No Comments

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While the weather in Jackson Hole can vary widely, the last two months have featured the best weather on Earth, with daytime highs in the 80s, low humidity and big sky.

I love the Jackson Hole real estate market for the same reason I love the weather around here: it can be so extreme that everywhere else is boring by comparison.

For example, among the 26 sales reported in August the least-expensive property was a bank-owned 2-bed condo for $95,000 and the most expensive a fabulous 41-acre building site for $9.5 million. That’s quite a spread, almost as interesting as the 50-degree temperature swings we’ve seen in the last few weeks with the thermometer dropping below freezing overnight and above 80 during the day.

Overall, the 26 sales for approximately* $26.2 million in volume put yet another strong month on the board for 2011. Sales volume dropped from $35.8 million in August 2010, but unit sales were up from 25. August marked the ninth month during the last 12 with sales above $25 million.

Notable sales and trends in August included:

  • Sold prices were 94 percent of list price in August, with an average sales price of about $1.1 million.
  • The average price per square foot was $300, with the least-expensive sale going for $114 per square foot and the most expensive going for $525 per square foot.
  • Average days on market for listings sold were 228.

    Unit and volume sales for Teton County, WY, since June 2010.

  • There were four building site sales, with lots moving in Bar BC Ranch, 3 Creek, Bar Y and Teton Village. *The sales price was not reported for the 0.74-acre site in Teton Village listed for $995,000.
  • The median sales price was $526,250, which bought a 3,420-square-foot home in Hoback Junction.
  • The least-expensive single-family home sale was $183,379 for a 3-bed home in Hoback Junction.
  • Condo sales for 2-bed units at $95,000 and $98,000 were the first two sales below $100,000 since January 2000. It is likely they will be the last two for the foreseeable future as the market floor is now $149,000 for a 1-bed condo in Meadowbrook.

Please contact me for a closer look at recent sales, active listings and other market factors in Jackson Hole. tetonrealtytoday@gmail.com

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