February Sales and Activity Update – Jackson Hole Real Estate 2010

Wanted to post with an update on the improving sales and activity in the Jackson Hole real estate market.  As with the January statistics we have to put the numbers in perspective — last year we only had 4 sales….  February 2010 was much better with 10 recorded sales in the Teton Board of Realtors Multiple Listing Service.  7 sales under $1,300,000 and 3 sales over $4,000,000.  Notice the market gap between $1.3 and $4 million — This is the market Christy and I see as the slowest segment. 

Of the lower priced properties 4 look to be “local” purchases which is very encouraging.  Last year Christy and I did not see the “local” market move around much through out the valley.  We are currently showing a lot of properties to locals so we hope this translates to an active spring and summer sales season.  Of course the only way this market will move forword will be if the sellers of all properties properly understand the market and price their homes at current market prices.  There is an indication that we are starting to see the new listings enter the market with proper price placement.

The other segment of the market – over $4 million looks to be responding to the more stable ecomony and rising stock prices.  We still see uncertainty in the markets but it seems like there is a general consensus that we have turned a corner.  This news seems to have brought a few additional buyers into the market.  We will continue to watch this trend as we close out the first quarter. The three other transactions mentioned above were:  All on the “west bank” with one in Teton Village (ski/ski out home – Granite Ridge), one in HHR and one in John Dodge which sold for over asking price (listed at $7.4 million!).

Updates should be coming more frequest as we will have Katie Colbert – Buyer and Commercial Real Estate specialist – for the Gillespie Team adding to our blog posts.

Here’s to a Happy St. Pats.  Go Marquette and Wisconsin in the NCAA Tourny!

For additional information on Jackson Hole Real Estate please feel free to call or email the Jackson Hole Experts!

Real Estate Star Joins the Jackson Hole Experts

Katie Colbert - Head Shot for Number 1

Christy and me are excited to introduce Katie Colbert, real estate sales Broker, as a new member of the Gillespie Real Estate Team.  Katie has been working behind the scenes for us for the past 6 months and has an excellent grasp of contracts and client communication.  Jackson Hole commercial real estate is an area that we are often asked about but are usually forced to referral to others.  With Katie’s extensive knowledge and networking skills we will have the opportunity to lend our experience in this segment of the market.  As mentioned in a previous post, Christy and I are working on a new townhome development in the town of Jackson called Cottonwood Flats Townhomes.  Katie will be one of our main sales people on the site so feel free to contact her at 307-739-8078 for additional questions.

Katie has extensive experience in both residential and commercial real estate in Jackson. Originally from Minnesota (Viking Fan – I will not hold it against her), she graduated with a degree in Real Estate from the University of Wisconsin-Madison (Go Badgers!) and has been pursuing a successful career in the field ever since. Katie enjoys working with buyers and assisting them in all levels of the transaction. She is relentlessly optimistic and has incredible passion for the business. The Gillespie team is eager to have Katie join us as an Associate Broker and we are ready to meet the demands of 2010 with a dynamic team to help you with your real estate needs.

For additional information on the dynamic real estate market here in Jackson Hole, Wyoming please feel free to contact any of us at 307-739-8056 or visit us at Jackson Hole Experts.