Even before the final few sales of the month are tallied, real estate sales volume in Jackson Hole during August has exceeded $75 million*, the highest monthly total thus far in 2013. Unit sales also are up sharply with a 67 percent rise year over year to 57 units sold.
Boosting sales volume significantly was the sale of a 23,000-square-foot, 7-bed home on 10 acres at the base of Jackson Hole Mountain Resort in Teton Village. Originally listed for $32.5 million, the home sold at auction for considerably less after nearly four years on market.
Without this top sale, the month’s average sales price drops to approximately $975,000 with a residential median price of about $775,000. Examples of properties that sold for approximately $1 million include a 4-bed, 3,600-square-foot home in East Jackson built in 2009 and a Jackson Hole Golf & Tennis single-family home with 3 beds, 2,300 square feet and 0.72 acres built in 1990. The median sale of the month is represented by any one of three Melody Ranch LINK homes that all sold within a few thousand dollars of each other.
Additional highlights among August sales includes:
- 11 building site sales, the highest monthly figure of the year, bringing the total for 2013 to 58. In 2012 there were 77 building site sales.
- For the first time since June, a sale below $300,000 with the closing of a 2-bed, 1-bath, 774-square-foot Meadowbrook condo. Another condo that was priced at $295,000 sold, but closed slightly higher than $300,000.
- A Shooting Star cabin built in 2009 with 4 beds, 4,000+ square feet on 0.21 acres that was on market for 413 days, list price $4.95 million. Sales price not reported.
- Two longtime Game Creek listings, both 3-bed, approximately 2,500-square-foot homes listed at about $800,000 and each on the market for more than three years.
Keep in mind there will surely be a few more sales that trickle in during the first few days of September, boosting these numbers. Please contact me for an update or for a personalized look at the Jackson Hole real estate market, including weekly updates and regular newsletters.
Market Knowledge = Smart Money
* Total sales volume is estimated based on 95 percent of list price for all sold properties with unreported sales prices. Additionally, numerous real estate transactions happen outside of the Teton County MLS and are not included in this market analysis. In all cases figures reported here are deemed reliable but not guaranteed accurate.