Another month, another big set of numbers for Jackson Hole real estate sales.
October unit sales jumped 17 percent from 2011, with 40 residential closings and 7 building site sales. Sales volume rose even more dramatically, increasing 78 percent to approximately $68.1 million, according to Teton County Multiple Listing Service.
Driving October’s surge was the sale of a 12,340-square-foot home in Crescent H listed at $18.95 million, the largest residential sale in 2012. Final sales price was not reported, as were seven other listings that closed last month. (The total list price of unreported sales was $37.5 million; sales volume figures above represent 90 percent of final list price for these properties and actual sales prices for other units sold.)
At the lower end of the market, 18 sales were reported below $500,000, an encouraging sign after several months of waning sales in this segment. Interestingly, six of these sales were older homes in Town of Jackson that seem ideal for investors looking for income properties (long-term rentals) or potential redevelopment projects.
Teton Village reported four sales ranging from a 2-bed, 792-square-foot condo that sold for MORE THAN the list price of $260,000 to a 3-bed, 3,172-square-foot condo in Four Seasons Jackson Hole listed for $3.95 million. A 2-bed Four Seasons condo listed for $1.72 million also sold for just under $1,000 per foot, as did a 3-bed, 1,388-square-foot condo that closed for $485,000.
The Aspens, located on the Teton Village Road about three miles from Jackson Hole Mountain Resort, also reported steady activity, reporting three sales including a 2-bed, 1,206-square-foot townhouse for $457,500.
The least-expensive property to change hands in October is a 2-bed, 744-square-foot condo in Meadowbrook (downtown Jackson along Flat Creek) listed for $169,000.
Want to see the MLS sheets for these listings? How about a current list of active listings personalized for your market segment? Please contact me today to receive a market analysis and sign up for regular market updates.