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Big April for Jackson Hole real estate

By   /  May 8, 2012  /  No Comments

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Spring has finally sprung in Jackson Hole, with new listings, like this one in Melody Ranch, arriving as fast as aspen leaves.

Sales volume jumped approximately 22 percent in April to $40.6 million, compared to April 2011, on 26 unit sales. Jackson Hole real estate unit sales for April were flat year over year.

The high end was very active in April compared to recent months that saw a surge in entry-level residences in Town of Jackson. Ten of the sales were above $1.85 million, and in nearly every case the property sold after years on market and significant discounts from original list price.

  • Bar BC Ranch closed two large building sites (44 and 53 acres) listed for a total of $15.4 million. Sales prices were not reported.
  • The top residential sale was for an 8,300+ square foot home on 7.5 elevated acres south of Wilson near Mosquito Creek listed for $7.995m. Property has been on and off the market since 2008, originally listed for more than $12 million.
  • The second-highest sale also was on the market for more than 1,000 days, a Granite Ridge townhouse on the slopes of Jackson Hole Mountain Resort in Teton Village. The 5-bed unit was originally listed for $4.6 million in October 2008, reduced to $3.4 million prior to sale.
  • Originally listed for $3.995 million in 2008, a nearly 6,000-square-foot home in Schofield Patent near Wilson sold for less than the final list price of $2.295 million.

    The Snake River had a few good days of fly fishing in April, but water will be off-color for the next few weeks.

Once again building site sales were steady, with five sales. In addition to the two Bar BC Ranch sites, two vacant lots were sold in Karns Hillside subdivision, located on the flanks of Snow King Mountain in Jackson.

The fifth building site sale was for a 0.63-acre site on Granite Ridge after 468 days on market at more than 25 percent off original list price of $2 million.

Last month’s numbers come with the caveat that six sold prices were not reported to Teton County Multiple Listing Service, with all but one of the properties listed above the median sale price of approximately $800,000. Volume totals in this report represent 90 percent of list price.

Contact me for more personalized real-time Jackson Hole real estate research.

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