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‘Prop blog’ roundup: New listings, single-family success, more

By   /  August 18, 2013  /  No Comments

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An irrigation gate on a building site adjacent to Jackson Hole Golf & Tennis.

An irrigation gate on a building site adjacent to Jackson Hole Golf & Tennis. Building site sales have been a big part of the Teton County real estate resurgence in 2013.

Below are a few highlights from my “other” blog, which resides at jhpropertyguide, an online look at Jackson Hole real estate. In addition to this page, please check this site regularly for additional perspective and information on the local market.

Most recently, I wrote about the new listings in Teton County since the first of August.  With the heart of the local selling season approaching, buyers that have not yet found their perfect cabin in the woods, short-term rental property or Jackson pied-a-terre eagerly await each day’s new offerings. As real estate agents, we often check the Multiple Listing Service several times a day hoping to give our buyers the earliest look.

In addition to the bullet points in that article, I also found the following items of interest:

  • Two new listings in Indian Trails, a Town of Jackson subdivision. A 4-bed, 2,377-square-foot home is listed for $949,000 and a 3-bed, 3,134-square-foot home is listed for $920,000.
  • A single-family home in South Park Village with 3 beds, 1,400 square feet on 0.58 acres for $475,000. Home is older (1977) and has no garage, but has great views over Rafter J and Melody Ranch.
  • The Osprey Ranch, a 59-acre building site in the heart of Wilson, for $4.25 million. Land has a conservation easement, limiting development to a modest home and limited outbuildings.

I also wrote about the success of the single-family home market in recent quarters. Perhaps the most interesting take-away from this article is the vibrancy of a market that is for the most part out of reach of working families.

August is prime golfing (and fishing, horseback riding, hiking, biking ...) season in Jackson Hole.

August is prime golfing (and fishing, horseback riding, hiking, biking …) season in Jackson Hole.

The least-expensive sale of a single-family home thus far in 2013 is $323,000, and there are only 10 options in Jackson Hole listed for less than $500,000.  With an average median income for Teton County households well below $100,000, and values returning slowly but steadily to pre-recession highs, free market single-family homes are once again moving beyond the hopes of many residents that will require a loan to purchase.

Finally, I provided jhpropertyguide with a look at the first half of 2013, a period that saw the greatest number of unit sales since 2007. Entitled “Jackson Hole real estate returning to heights,” the piece focused mainly on residential sales, but also noted were the 11 building site sales in Town of Jackson. This is a topic also covered a little more in depth here at Teton Realty Today.

How is this vacant land market faring compared to 2012? Are builders working once again for speculators? Are land values rising as quickly as residential properties? Stay tuned for a closer look at this market segment in the coming weeks. Or call or email me today for a personalized look at the Jackson Hole real estate market.

 

 

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