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Today’s Teton Village Need to Know: T – 6 weeks til ski season

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Teton Village continues to pace the Jackson Hole real estate market with big gains year over year in both sales volume and units sold. Ironically, however, values have yet to return to pre-recession heights at the base of Jackson Hole Mountain Resort as they have in other market segments such as single-family homes.

Without question the hottest corner of the Jackson Hole real estate market is Teton Village, which has seen a 38 percent increase in sales volume over the first three quarters of 2017 and a 28 percent jump in unit sales, according to Teton County Multiple Listing service. Sales not reported to MLS add as much as a third more in sales volume, with most of those sales occurring in the booming Shooting Star subdivision.

With such high demand, listed inventory and reported activity reveals but a shadow of the actual market. For example, there are currently no active listings for the very desirable and vibrant Teton Mountain Lodge and just one Hotel Terra unit on the market. There are, however, options available off market and coming to market in the coming weeks that I am aware of and can share. Please contact me if you are not already working with another WY agent.

Recent Teton Village market activity reported to MLS includes:

  • NEW: Shooting Star .73-acre building site, listed by Clear Creek Group for $2.85 million.
  • PENDING: Teton Village White Ridge 3-bed condo built in 1972, completely remodeled in 2016, after 4 days on market, listed by Jackson Hole Sotheby’s International Realty for $925,000.
  • PENDING: Teton Village Moose Creek 4-bed, 2,540-square-foot townhouse with 1-car garage built in 2000, listed by Engel & Volkers for $2.95 million.
  • PRICE REDUCTION: Shooting Star 6-bed, 6,673-square-foot home on 1.25 acres built in 2011, was $11.25 million now $10.75 million after 455 days on market, listed by Jackson Hole Sotheby’s International Realty.
  • CLOSED: Teton Mountain Lodge 408-square-foot studio after 43 days on market, listed by Jackson Hole Sotheby’s International Realty for $450,000.
  • CLOSED: Hotel Terra 2-bed, 1,062-square-foot condo-tel built in 2009 after 62 days on market, listed by Jackson Hole Real Estate Associates for $865,000.
  • CLOSED: Nez Perce 3-bed, 1,388-square-foot built in 1980, updated in 2017, after 52 days on market, listed by Berkshire Hathaway Home Services for $995,000.

Do you have questions about Today’s Real Estate Facts or the broader market? Would you like a link to one of the properties mentioned, or a weekly email with recent listing activity for your target market segment? I am an Associate Broker with Jackson Hole Sotheby’s International Realty. Contact me today for a personalized look at properties in Teton, Lincoln and Sublette counties in Wyoming.

“This is for informational purposes only and is not a solicitation for business. If you are currently working with a Realtor, contact them for additional information.”

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