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May-mentum! JH real estate tallies 30 closings

By   /  June 1, 2010  /  No Comments

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Hello summer! It's that delicious time of year when the valley is beginning to green while the mountains still have significant amounts of snow at higher altitudes. The next 90 days are THE BEST!

Last I checked, May real estate sales for Jackson Hole were strong with 21 closings after the first three weeks. A preliminary look at the last 10 days of the month shows another 9 closings totaling approximately $8.6 million, bringing the monthly total to approximately $37 million.

Two-word analysis: Consistent, stable.

Best of all, sales continue to represent all market segments from short-term rentals in Teton Village to in-town entry-level housing to luxury homes. Highlights include:

  • A 441-square-foot, 1-bed condo in Teton Mountain Lodge sold for $260,000 after 30 days on market.
  • A 1,068-square-foot, 2-bed, 2-bath townhouse sold for $382,500, the second closing in the new Cottonwood Flats development in West Jackson.
  • Cottonwood Park saw some much-needed action with a closing for $538,000 on a 3-bed, 2-bath, 1,900-square-foot home. Sold after 63 days on market with an original list price of $599,000.
  • A 2-bed, 2-bath, 1,776-square-foot luxury condo in Pearl at Jackson listed at $1.995 million sold for an undisclosed price.
  • A 4-bed, 5-bath, 4,241-square-foot home in 3 Creek Ranch sold for $1.935 million after 468 days on market, down from $2.4 million.  However, this home was originally listed at $3.55 million in 2006 before the listing was cancelled. This mimics a common trajectory for many homes in this private South Park neighborhood.

All information has been gathered from Teton County Multiple Listing Service. Monthly sales totals often increase in the coming days as additional closings are reported.

Please contact me for more detailed analysis of this information, including a personalized e-mail that includes a list of all properties, or for a comprehensive search of available properties.

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