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February sales fab as volume jumps 131%

March 7, 2013 By Leave a Comment
The welcome mat is out for March visitors to Jackson Hole.

The welcome mat is out for March visitors to Jackson Hole.

There were 27 real estate sales in Jackson Hole in February, six more than in 2012, but only two closed below $250,000 and five for less than $500,000. Not surprisingly, this led to a whopping 131 percent increase in sales volume with monthly sales hitting approximately $40 million.

Why the slow down on the low end? Partly because of a lack of inventory, partly the result of the pendulum swinging the other way after low-end sales led the way in January. In all of Teton County, there are currently 43 residential units are priced below $500,000 and just 3 priced below $250,000.

Let that sink in: just three full-ownership homes for sale below $250,000 in an area larger than 4,000 square miles; just nine priced less than $300,000. After five years of plummeting prices and increasing options for working families, the market has come almost full circle with fewer and fewer free market affordable housing choices in one of the nation’s wealthiest communities.

As a newly minted board member of the Teton County Housing Authority and a longtime advocate of deed-restricted housing that enhances ownership opportunities for the hardest working residents of Jackson Hole, this is a community challenge I am intimately aware of. The good new is that the inventory of affordable housing units has risen in the last five years and the goal of housing more than 65 percent of the county’s workers in Jackson Hole currently is being attained. I will dedicate a future blog post to the state of affordable housing in Teton County.

skiing, Tetons Jackson Hole

The best part of the ski season is upon us and spring skiing on Teton Pass is the go-to slope.

Meanwhile, highlights from February’s residential sales, as reported by Teton County Multiple Listing Service include:

  • Teton Village has been very active with four sales, including the high-ticket closing of the month on a 7,300+ square-foot home on Granite Ridge, listed at $7.95 million.
  • The second-highest priced listing to sell in February was a 7-bed, 10-bath, 8,100+ square-foot home in Bar B Bar on 19 acres listed at $6.75 million and on the market for 745 days.
  • Three Teton Pines homes and 2 Aspens/Racquet Club homes sold, a solid month for this vibrant West Bank neighborhood. Keeping with this month’s theme, the two Aspens properties were quality 2-bed properties listed just below $500,000 and selling for close to asking price, and well above the 2-bed average sale of approximately $350,000 in this short-term rental overlay.
  • Town of Jackson sales continued to soar with 8 closings, including the top vacant land sale for a 6.76-acre commercial piece located near the “Y” intersection of Highways 22 and 189, on market for 1,884 days.

Building sites also continued their steady resurgence with 6 sales, topped by the aforementioned. Additional sales included a 7.92-acre home site north of Wilson listed for $1.395 million; an Amangani building site listed for $895,000, less than an acre; a premium Melody Ranch lot with top-notch South Park views of the Tetons, listed at $399,000.

Always keep in mind these posts are just the tip of the iceberg when it comes to Jackson Hole real estate research. Contact me for a personalized, up-to-the-minute look at the market. 307-690-9346.

 

Filed Under: Hotsheet Highlights, Jackson Hole scenic, Market statistics Tagged With: , , , , , ,

Teton Village: Mid-season real estate report

February 18, 2013 By Leave a Comment
The annual Cutter Races, held this weekend, is pure Jackson Hole.

The annual Cutter Races, held this weekend in Melody Ranch, is pure Jackson Hole.

Jackson Hole Mountain Resort is in full swing this President’s Day weekend, awakening from its mid-season, post-holidays nap. With another season of strong snowfall among the deepest in the Rockies, bookings at Teton Village hotels are solid through mid-March.

Real estate activity also is strong, with five closings since December 1 and eight properties currently under contract. This easily surpasses last winter’s real estate activity, which saw just three full-ownership closings all season and none in 2012 until March 1. Overall, there were 37 closings in Teton Village in 2012, down from 43 in 2011.

Closings this ski season include:

  • Two Hotel Terra units, both on the market for more than 1,200 days.
  • A 5-bedroom condo built in 1978 in the older section of Teton Village listed for $1.099 million. Very few 5-bedrooms in Teton Village. On (and off) the market for 17 months.
  • Two single-family homes on the market an average of 750 days. Listed for $2.595 million and $2.45 million, both selling for less than 10 percent off final list price.

The takeaway on these sales is that buyers have taken advantage of values as much as 50 percent below the height of the market, regained confidence in the short-term rental market and are finding sellers willing and able to deal. However, putting the damper on a more robust resurgence in this hamlet about 15 miles from downtown Jackson is a lack of inventory.

Rendezvous Peak (the top of the Aerial Tram) as seen from Tucker Ranch.

Rendezvous Peak (the top of the Aerial Tram) as seen from Tucker Ranch.

Currently there are just 43 full ownership properties for sale in Teton Village, down from 48 in October.  (There are 29 fractional ownership properties for sale, but those are outside the scope of this analysis.) Options are significantly diminished from December 2011, when there were 73 properties on market.

Available homes at the base of Jackson Hole Mountain Resort include:

  • A 500-square-foot studio built in 1973 listed for $225,000 is the least-expensive property. A 2-bed condo built in 1972 is listed for $297,700.
  • There are 5 condos listed below $500,000 and 13 for less than $1 million.
  • There are 9 single-family homes, with the least expensive a 5-bed, 4-bath, 2,750-square-foot home built in 1980 and listed for $1.650 million.
  • Two Granite Ridge homes, both listed in the last week at $6.9 million and $5.2 million. This premier neighborhood is located along the slopes above Four Seasons Jackson Hole and features some of Teton Village’s finest homes.

Half of the eight pending properties are in Teton Mountain Lodge and Hotel Terra. Activity in these condo-tel developments has been intense of late. Contact me for a detailed look at these developments, including rental figures, floor layouts, comparable sales and more.

 

Filed Under: Hotsheet Highlights, Jackson Hole scenic, Market statistics Tagged With: , , , , , ,

November: Unit sales rise 25%, volume up 11%

December 10, 2012 By Leave a Comment

Jackson Hole Mountain Resort upgraded its Casper Lift this season to a new high-speed quad.

Just one. And a small one at that.

November was another month of strong sales numbers for Jackson Hole real with 39 residential and building site sales for approximately $37.6 million, but for the first time in memory the number of unreported sales prices is just one.

Not sure what the overall significance of this number is, but I do know it allows for a much more accurate and thorough look at the numbers reported here. For my active clients, it means a clearer, real-time understanding of the values in a given market segment.

For example, considering the only sales price to not be reported was a short sale in Rafter J listed at $349,000, I can reliably report statistics such as:

  • Average sales price, which is approximately $984,000. First time in several months this number has dropped below $1 million.
  • Sale to list price ratio of 93 percent.
  • Median sales price, which is $795,000. This number has remained remarkably stable in 2012.

As Jackson Hole has emerged from the recession, as many as 15 percent of sellers in any given month have chosen not to report final sales prices to Teton County Multiple Listing Service, as is their right in the state of Wyoming. To determine statistics it becomes necessary to guesstimate the final sales price. Here at Teton Realty Today I always use 90 percent of final list price.

The snow was slow to arrive in Western Wyoming this year, but recent storms have blanketed the valley.

Because the large majority of these sales are at the upper end, estimated sales volume becomes even less reliable. For example, in October the reported sales volume was $34.32 million. Final list prices for unreported sales totaled $37.53 million. After reducing the unreported totals by 10 percent, the amount of reported and unreported sales were nearly equal.

Additional highlights from November sales include:

  • November unit sales increased 25 percent compared to 2011; sales volume rose 9 percent.
  • The top residential sale of the month is a Four Seasons Jackson Hole penthouse condo, listed at $5.95 million that sold for more than 15 percent off.
  • Teton Village also recorded the second and third largest residential sales in November, both single-family homes listed above $3.895 million. Overall there were four sales at the base of Jackson Hole Mountain Resort.
  • Despite a shrinking inventory the low end showed renewed strength with 15 sales, or 37 percent, below $500,000.
  • Easily the best per square foot deal of the month was for a 3-bed, 1,200-square-foot townhouse in Town of Jackson that closed for $214,000, or $178/foot. Interestingly, the least-expensive home sale in November was $210,000 for a 1-bed, 448-square-foot condo, a per square foot price of $468.
  • Nine building site sales extends a very strong year for this market segment, which will easily double totals for 2011 in unit sales and volume. Look for a comprehensive look at vacant land sales in 2012 in the coming weeks, which will include several large December sales.

Please contact me for a personalized look at Teton County, Wyoming, properties.

Filed Under: Jackson Hole scenic, Market statistics, Uncategorized Tagged With: , , ,

‘Summer’ selling season still going strong

October 16, 2012 By Leave a Comment

October remains “summer” busy for Jackson Hole real estate while the weather also has remained very mild.

It’s another one of those times of the year here at Teton Realty Today – too busy lately doing ground level research to regularly provide the market overviews that characterize this site.

This is a good thing! Helping people reach their real estate goals is the culmination of a discussion that often began many months earlier, if not years, and is the reason I love this career. I’m always excited to meet someone at the beginning of this journey, but crossing the finish line is what it’s all about.

This dialogue can be like approaching a destination by plane: at 30,000 feet, observations are limited to the surrounding region, weather and general dynamics; at 10,000 feet the neighborhoods, businesses and community fabric comes into view; once on the ground, however, sensory information overwhelms and the services of an experienced guide become invaluable.

Please contact me to initiate a discussion aimed at providing you the diligent, vertical research you will need to reach your Jackson Hole real estate goals. I’m on the ground in Jackson Hole, and can show you that there is much more here than meets the eye.

Until then, please continue to consider this blog, as well as my daily updates on Facebook and Twitter, as the view from about 1,000 feet. Most of these stories were written using research I prepare on a daily basis for active clients and can provide a real understanding of general values, trends and neighborhood activity.

For an even broader look at Jackson Hole, perhaps from about 30,000 feet, check out these posts on jhpropertyguide, my “other” blog.

Jackson Hole Golf & Tennis will close for the season this week.

Jackson Hole Golf & Tennis will close for the season this week.

Earlier this month I wrote about Jackson Hole golf properties. At the time there were 39 residential properties available in golf course communities including Teton Pines, Shooting Star in Teton Village, 3 Creek Ranch and Jackson Hole Golf & Tennis.

In September I wrote about high-end properties in Jackson Hole and how sales of homes above $1.5 million remain the backbone of the Teton County market, in particular when it comes to sales volume. You also read right here on Teton Realty Today that average sales price soared to about $1.8 million in September.

Also in September I wrote an overview of building site sales so far in 2012, which have already surpassed every year since 2008.

Filed Under: Jackson Hole scenic, Market statistics Tagged With: , , ,

Jackson Hole MLS: 12 bank-owned, 15 short sales

July 23, 2012 By Leave a Comment
This Creekside townhouse was one of the many short sales in Jackson Hole in 2011.

This Creekside townhouse was one of the many short sales in Jackson Hole in 2011.

There is an old joke about the single men here in Jackson, which goes “The odds are good, but the goods are odd.”

Point being, there were once plenty of guys for the women to choose from, but some of them didn’t exactly have all the qualities one may desire.

The phrase comes to mind when researching available properties lately. There are homes to look at, but many of them may as well not be listed. Too many properties are priced well above market because the sellers are unwilling to accept a market that has lost upwards of 30 percent. Perhaps more likely is that the seller is unable to sell at market value because they owe more on the property that can be realistically garnered. This is called a “short sale.”

Short sales continue to be the bane of Realtors, even as the process has become streamlined and more banks become willing to deal. Currently, there are 15 properties in Teton County Multiple Listing Service listed as potential short sales. Highlights include:

  • Just as in bank-owned properties, discussed below, the range of short sales is commensurate with the rest of the market with the lowest listing price at $229,000 for a 2-bed townhouse in Cottonwood and the highest just over $2 million for a 7,800+ square foot home on nearly five acres in Hoback Junction. In other words, distressed properties are hardly synonymous with lower income housing.

    This bank-owned home in downtown Wilson, listed at $485,000, hit the market last week and has seen significant interest.

  • Three potential short sales are short-term rental properties in Teton Village (2) or the Aspens/Racquet Club subdivisions.
  • Rafter J subdivision also has three potential short sales, all of which are single-family homes listed between $430,000 and $485,000.

On the other hand, when sellers finally become realistic or have been able to work with a bank to facilitate a short sale, often there are multiple buyers. Even more in demand recently have been bank-owned properties that in a few cases have sold above list price.

Currently, there are 11 bank-owned properties in Jackson Hole. Highlights include:

  • A single-family home in Melody Ranch that was once deed restricted, meaning buyers had to qualify under income and asset requirements per Teton County, became free market after the foreclosure process. Listed at $409,000 it was shown a dozen times before hitting the market and is under contract after one day.

    View from a bank-owned home on Porcupine Plateau, about 15 minutes south of Jackson.

  • The least-expensive bank-owned property is a 3-bed, 1,200-square-foot townhouse near Jackson Town Square.
  • The highest-priced property is 4-bed, 5,237-square-foot home in Spring Creek Ranch listed at $1.95 million.
  • A duplex in East Jackson was listed today at $560,000. Includes two 2-bed townhouses and a detached garage. Sold for $975,000 in 2007, subsequently listed for as high as $1.295 million.

What this means today’s buyers need to be prepared to move when a good deal comes along. That means having financing secured and a pre-qualification letter in hand, an up-to-date understanding of the real estate market and a strong relationship with a full-time Realtor that has thoroughly explained the entire process and associated documents ahead of time.

I can’t help you get a loan, but I can help you make sure you know a good deal when you see one. Contact me today for a personalized look at the local market and an ongoing dialogue aimed at reaching your real estate goals.

Filed Under: Jackson Hole scenic, Market statistics Tagged With: , ,

36 options for Jackson Hole golf properties

May 21, 2012 By Leave a Comment
Tee it high and let it fly! The first hole at Shooting Star in Teton Village.

Tee it high and let it fly! The first hole at Shooting Star in Teton Village.

When Shooting Star in Teton Village opened last week, all Teton County golf courses were officially open for the season. The golf season may be short in Jackson Hole, lasting until about mid-October, but it can definitely be sweet with four high quality courses to choose from.

For those looking for golf properties in Jackson Hole, each course is imbedded within a subdivision of the same name. In addition to Shooting Star, a Tom Fazio design built in 2009 and the most recent addition, golf communities include Teton Pines, Jackson Hole Golf & Tennis and 3 Creek Ranch.

Teton Pines offer the most residential options with 21 of the 36 active listings as of this writing. (Link is active for only a limited time. If it has expired contact me for an updated search.) Golf & Tennis, located north of Jackson near Jackson Hole Airport in Grand Teton National Park, has seven listings; 3 Creek and Shooting Star each have four listings.

The 16th hole at Teton Pines is a great place for reflection.

The 16th hole at Teton Pines is a great place for reflection on why golf is such a great game.

Jackson Hole golf property highlights include:

  • The least-expensive full-ownership options are townhouses in Teton Pines, with three listed just below $1 million. A 2-bed, 1,974-square-foot Garden Home built in 1995 is priced at $949,500 after 102 days on market.
  • The median price for golf properties in Jackson Hole is $2.45 million, represented by a 4-bed, 3,688-square-foot single-family Teton Pines home on 1.33 acres. On the market 880 days with no price reductions.
  • Shooting Star homes are priced between $4.2 million and $5.5 million for Jonathan Foote designed cabins between 3,321 and 4,105 square feet less than four years old.
  • Teton Pines also includes the two homes with the highest list price. For $7.65 million you can be neighbors with Dick Cheney, for $7.95 million you can live a few fairways over in a 5-bed, 8,219-square-foot log and stone beauty.

    The golf course at 3 Creek Ranch opened in 2005.

  • Jackson Hole Golf & Tennis is the oldest Teton County golf course, originally built in the 1960s. Accordingly, many of the homes are older and generally represent a lower per square foot price. Four of the seven homes are listed between $1 million and $3 million. However, three newer homes are priced between $2.15 million and $3.395 million.

What have these Jackson Hole golf properties sold for in recent years? Contact me for a comparable market analysis.

These Jackson Hole golf communities are surrounded by additional subdivisions that also offer proximity and often access to the facilities. Contact me for a personalized search of these properties.

 

Filed Under: Jackson Hole News, Jackson Hole scenic, Market statistics, Neighborhood analysis Tagged With: , , , ,

Winter: Jackson Hole’s most passionate season

February 20, 2012 By Leave a Comment

Sidecountry skiing outside Jackson Hole Mountain Resort is a major draw for visitors and residents.

In October, I wrote that fall is Jackson Hole’s finest season. Come July, as the valley swells with indigenous life forms and human visitors from every corner of the globe, I may (again) claim summer is Northwest Wyoming’s most vital time of year

Today, however, I am moved by the pure passion of the winter season. I write from my office at the bottom of the Jackson Hole Mountain Resort on the eve of a snowstorm that is predicted to last all week. The energy and anticipation is palpable, in both the swirling alpine air as well as the hushed excitement of the throngs here for the President’s Day holiday.

Stoke for the impending snowstorm is perhaps even higher for those who live here than the visitors. Many a “powder clause” will be invoked as the week goes on by those of us who love to ski so we can take advantage of premium conditions that may only come a handful of times a year. As I peruse Facebook this afternoon, links to NOAA Radar pages and mountain weather forecasts abound.

Cross country skiing at Teton Pines.

I especially love when someone shares a forecast in ALL CAPS!

SNOW WILL INCREASE ACROSS THE WESTERN MOUNTAINS THROUGH THE NIGHT AS THE WINDS START TO PICK UP. A WINTER STORM WATCH HAS BEEN ISSUED FOR TUESDAY THROUGH WEDNESDAY NIGHT. PERIODS OF MODERATE TO HEAVY SNOW ARE EXPECTED. SNOWFALL OF TWO TO THREE FEET IS EXPECTED IN THE TETONS.

When the flakes start flying, I’ll check out the Webcams at the top of Teton Pass and throughout Teton County.

One irony of Jackson Hole is that the number of summer visitors dwarfs the amount of people that come during winter, but the single most popular reason people visit the region is to ski or snowboard. People come to Jackson Hole in the summer to fish, hike, raft, bike, horseback ride, tour the national parks and more or to simply soak up the best weather on Earth. In the winter, most come despite some of the harshest weather in the country because it creates ideal conditions for the pastimes they care passionately about.

The Cutter Races, held annually during President's Day holiday, are just one of the many late-winter events.

And within the winter season, the period between Valentine’s Day and early April is clearly the nectar. At Snow King, the north-facing Town Hill can be a cold, dark, icy place between snowfalls in December and January, but by mid-February the sun finally finds the slopes and a lunch run is a wonderful way to get some color on your face and a little exercise. At JHMR and Targhee, the warming trend often means big dumps of high-moisture content snow that eventually turns to delicious corn conditions once the lifts stop turning.

The next several weeks also feature some of the winter’s best events with the Town Downhill, Pole Pedal Paddle, World Championship Hill Climb, Cutter Races, WinterFest and other sporting events as well as a slew of live entertainment acts aimed at serving the younger visitors and seasonal workers.

Yes, winter can be overbearing sometimes. Inevitably there will be a two-week stretch, or more, when the temperature fails to rise above zero and your nose hairs freeze, your joints creek and your car hates you for starting it. And shoveling snow is a pain in the back that gets old early in December. There’s no sugarcoating it.

But for those willing to brave the conditions, for those who share a passion for the outdoors when they are the least hospitable, I’ve found there is a reward just a little sweeter than those earned the rest of the year.

Filed Under: Jackson Hole scenic, Uncategorized Tagged With: , , ,

Land, bank, unreported sales lead Jackson Hole in January

February 5, 2012 By Leave a Comment

Sometimes it helps to just look at things from 10,000 feet, like the top of Jackson Hole Mountain Resort. Surprisingly, not one of the 18 sales in January were in Teton Village.

Building sites accounted for a third of all Jackson Hole real estate units sold in January, continuing a trend of steadily increasing land sales and stirring hopes for resurgence in the local construction industry.

Teton County, Wyoming, total sales volume reached approximately $26.3 million* on 18 unit sales in January, reflecting a slight drop from the 22 sales for $28 million the previous year. Last year ended with significant momentum as December tallied 32 sales for $48 million, a gain of 60 percent in units and 72 percent in volume from December 2011.

The six building site sales totaled approximately $8.9 million. Compared to the 34 reported sales for $33 million in Jackson Hole building sites in all of 2011, this market segment is off to a fast start in 2012.

A high number of unreported sales prices also stand out among the monthly sales. Final sales figures for four properties with list prices totaling $12.8 million were not reported, including a 35-acre building site in Crescent H listed for $5.9 million that was on the market for 1,603 days and originally listed for $8.5 million.

Several January snow storms have allowed Jackson Hole snow depths to be among the best in the Intermountain West this winter.

Several January snow storms have allowed Jackson Hole snow depths to be among the best in the Intermountain West this winter.

January’s Jackson Hole sales highlights include:

  • The least-expensive sale was a West Jackson 2-bed condo for $105,000. Bank-owned, sold for 96 percent of list after just 50 days.
  • The second least-expensive sale, also bank owned, was a 3-bed East Jackson townhouse that sold for 98.5 percent of list after just 40 days.
  • The highest residential sales price also was for a bank-owned property. The 5-bed, 6,700+-square-foot home near Wilson sold for 97 percent of its original list price of $3.5million after 78 days on market. Property was listed for $6.995 million in 2008.
  • A land sale in Rafter J also included a home to be built later this year, closing above $500,000.
  • A 3-bed home in Cottonwood Park closed for 100 percent of list price after just 56 days on market.
  • The fourth bank-owned sale was a lot in Karns Hillside on the market for 189 days and selling well below the original list price of $254,900.
  • The dog that did not bark: Teton Village saw no closings in January.

Contact me for details on the properties discussed or for a more personalized look at the Jackson Hole real estate market.

* Total assumes 90 percent of list price on sales with unreported sold prices. All sales figures provided by Teton County Multiple Listing Service and/or Jackson Hole Sotheby’s.

Filed Under: Jackson Hole scenic, Market statistics Tagged With: , , , ,

Lower prices, increased sales boost Jackson Hole real estate in 2011

January 6, 2012 By Leave a Comment

Land sales in 2011 were just one of the many indicators Jackson Hole real estate is enjoying a steady, stable recovery in almost all segments. This lot south of Wilson is new to market in January 2012.

It wasn’t real estate heaven, the market didn’t party like it was 2007, but overall Jackson Hole real estate was pretty darn good in 2011.

The calendar year ended last week with a total of 326 closings in Teton County, including 289 residential and 37 building site sales. The sum exceeds the 261 sales in 2010 by 26 percent. However, sales volume dropped in 2011 by 16 percent to approximately $323.5 million.

The jump in unit sales in 2011 followed a similar increase in 2010 of 29 percent compared to 2009, though 2010 also saw a 69 percent increase in sales volume from that terrible, horrible, very bad year that recorded just 203 unit sales for $229 million.

The 37 building site sales, up 15 percent from 2010 and 68 percent from 2009, echo the steadily improving residential numbers. Sales volume for vacant land in 2011 totaled $34.4 million, not including two unreported sales on Bar BC Ranch properties with a total list price of $19.5 million.

Nearly all market statistics indicate 2011 represented a strengthening market in which prices found bottom in most segments and more buyers got off the sidelines. And perhaps most encouragingly, this strength comes despite lingering limiting factors such as an unreasonably tight lending climate, local and global economic concerns and the simple fact that so many homeowners cannot sell for what they have into their property.

Sunrise at Jackson Hole Mountain Resort on a recent morning.

Highlights from 2011 real estate sales in Teton County, WY, include:

  • There were five sales at or below $100,000 in 2011, the first such sales since January 2000.
  • There were 45 residential sales in 2011 below $300,000. In 2008, for context, there was not a single sale reported by Teton County Multiple Listing Service below $300,000.
  • Eleven of the 12 sales below $130,000 were in two subdivisions: Ponderosa Village in West Jackson and Hillside Business Complex Condos, located about 2 miles south of Jackson.
  • Thirteen of the residential sales, or 4.5 percent, were not reported, as is the prerogative of the seller in Wyoming. The highest list price for a non-reported sale was $10.7 million for a 7,900+ square-foot home in Crescent H on 28 acres. These sales are not included in the annual sales volume figure above.
  • The highest reported sale in Jackson Hole in 2011 was $7.3 million for the much-publicized auction of the Bighorn Lodge near Jackson Hole Airport.
  • There were eight sales above $5 million; 21 above $3 million; 32 above $2 million; 85 above $1 million.
  • The median sale was $685,000, represented by a bank-owned Love Ridge condo in Jackson and a 2-bed Teton Mountain Lodge condo in Teton Village.

    Bar BC Ranch reported three sales during 2011 and four since December 2010, helping sustain modest growth in the vacant land segment.

  • Bar BC Ranch dominated the vacant land market, with three sales in 2011 and four since December 2010. Ranch 1, perhaps the finest building site in Jackson Hole at the confluence of the Gros Ventre and Snake rivers, was listed for $10.5 million and sold on Dec. 30 for an unreported price.
  • The least-expensive land sale in 2011 was for six acres in Alta, WY, that changed hands for $165,000. The least-expensive sale on the Wyoming side of the Tetons was a bank-owned, 0.33-acre lot in Melody Ranch for $199,900.

Without a doubt the current market remains challenging, placing a higher premium on research, market knowledge and due diligence. However, great opportunity exists for those determined to reach their goals. Contact me today to begin your Jackson Hole property search with a personalized market update.

Filed Under: Jackson Hole scenic, Market statistics Tagged With: , , , ,

Teton Village real estate: Open house tour, 73 active listings

December 8, 2011 By Leave a Comment

The 2011-12 ski season is underway in Teton Village.

Shoes off. Shoes on. Get in the car, get out of the car. Repeat about a dozen times in two hours, and there you have the annual Teton Village open house real estate tour.

Homes, townhouses and condos available for preview on Wednesday at the base of the Jackson Hole Mountain Resort numbered more than 30. The tour is set for this time of year so Realtors can familiarize themselves with the current inventory ahead of the ski season, but well ahead of Christmas and the height of the winter when these properties are rented short-term almost nonstop and nearly impossible to show.

Fortunately I was already familiar with more than half, but that left more than a dozen listings to preview for current and future customers.

My focus was on seeing or becoming reacquainted with the inventory of single-family homes. Several were in the “old” village, or the area to the southwest of the village core on steep streets including McCollister, Morley, Holly and Curtis. Two of Shooting Star’s cabins, which were built since 2005, were also open.

The living room of this home listed for $12.75 million looks out over the slopes of Jackson Hole Mountain Resort.

Five homes on Granite Ridge, located to the north of the village core, with list prices between $8.65 million and $16.5 million, were the highlight of the tour. With ski-in/ski-out locations and the finest architecture, materials and amenities, these homes combine all the best of Teton Village.

Currently, there are 73 active, full-ownership listings in Teton Village. Highlights include:

  • There are 51 condos, 8 townhouses and 14 single-family homes.
  • Teton Mountain Lodge has the largest inventory of available condos with 13, followed by Hotel Terra with 9.
  • Four Seasons in Jackson Hole opened two of the three active listings available in this premier condo-tel.
  • Two condos are listed below $300,000, including a 1-bed condo in the Gros Ventre building built in 1973 and a studio condo in Teton Mountain Lodge listed at $297,000.
  • The highest list price in Teton Village is $29.5 million for a 23,250 square foot home on 10.63 acres. Suffice to say it is a fabulous home and is often mentioned as one of the finest ski homes in the nation. The home was not available for preview on Wednesday.

Amazing home on Granite Ridge listed for $16.5 million, terrible photo that does not do it justice.

But wait, there’s much, much more! You may be asking …

What are the best deals in Teton Village? Which properties garner the highest short-term rental income? How many listings are truly ski-in/ski-out? Are there any building sites remaining in Teton Village? Will you show me your secret powder stashes when I visit this winter (yes!)?

Contact me for a closer look at Teton Village or a more personalized Jackson Hole real estate discussion.

Filed Under: Hotsheet Highlights, Jackson Hole scenic, Market statistics Tagged With: , , , , , ,
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