General Jackson Hole Information Archives - Page 2 of 7 - Christy & Garth Gillespie

Where Is The Jackson Hole Real Estate Inventory Under $1 Million??

We have a little bit of a dilemma going on in Jackson Hole. Supply and demand is becoming a problem for properties priced under $1 million. There are currently about 133 residential listings (townhomes, condos and single family homes) listed as active in Teton County Wyoming. Of the 133 listings 59 are single family homes and 74 are condos/townhomes.

During the 3^rd Quarter the Jackson Hole real estate market averaged 32 sales of homes, condos and townhomes per month priced under $1 million. Quick math tells us we have a little more than 4 months of inventory.

Interest rates are still very low and we have not seen a decrease in Buyer’s interest so it is a great time to be thinking of listing. Christy and I have been very active this summer selling homes. We have been involved with over 30 transactions with 27 listings SOLD! If you are thinking of selling your home please do yourself a favor and call Christy and Garth Gillespie, Jackson Hole Sotheby’s International Realty at 307-413-5243. We have a very professional listing presentation explaining how and why we have had success this year and for over 15 years running.

Jackson Hole #1 Overall Resort in North America by SKI Magazine

September 25, 2013/in General Jackson Hole Information, Skiing, Uncategorized

Jackson Hole was voted #1 Overall Resort in North America by SKI Magazine. We hope to see you here this winter!

Market Update – February 2013

February 26, 2013/in Condos, Downsizing, General Jackson Hole Information, General Real Estate Information, Jackson Hole Economy, Market Updates, Real Estate Buyer & Seller News, Second Homebuyers, Top Values

Wow! What a roller coaster of a year! Looking back, the Jackson real estate market had an extremely quiet spring and picked up in July with consistent activity through December. Frankly, we have been waiting a LONG time to say that. Average sales prices overall for 2012 are showing a 22% increase over 2011 proving that the Jackson Hole real estate market is on the re-bound.

In residential sales over $1.5M, volume swelled to 54% and the number of transactions increased by 39%. In properties selling below $1.5M, the gain was less dramatic with volume remaining relatively flat and number of transactions increasing only by 11%. Land sales have seen a dramatic increase, especially large acreage parcels which increased by 115% in number of transaction over last year. Residential condo sales saw the least improvement with only a 6% gain in unit sales over 2011 – nevertheless, these numbers should improve dramatically as inventory shrinks and interest rates remain low. Days on market remained steady and actually increased as some inventory remains on the market from previous years bringing most properties listed on the market for over a year or longer. Taking a closer look at our absorption rate – the average time to sell a property in Jackson Hole is just over 2 years. This number should drop significantly as buyers start to regain interest in our market and the economy improves.

Overall, buyers are showing confidence in investing in real estate. Interest rates remain low and our favorable tax climate has been attracting many buyers from areas like California and New York which has been driving our upper end sales. As early 2013 continues to unfold, expect to see inventory shrink, number of transactions to increase and sales prices remain steady.

We hope this analysis gives you some insight into our market and for 2013 we will keep doing what we do best – selling real estate. If you or anyone you know needs assistance with real estate please have them give us a call. We would be honored to have your referrals.

Best Real Estate Agents in Jackson Hole

March 15, 2012/in Christy and Garth Gillespie Info, General Jackson Hole Information

Christy and Garth would like to thank all our friends, family and “fans” for voting us the “Silver” award for “Best Real Estate Agents” in Jackson. We apprciate the support and are honored by your votes. Thank you!

There were many great winners for the “Best of…” We would also thank the JH Weekly for their hardword in putting together this contest. The “Weekly” provides excellent reading entertainment every week and in 2011 started Jackson’s very own “Groupon” with the “Half Off Jackson Hole” program.

Thanks again to all our voters and to learn more about our ever changing real estate market in Jackson Hole please contact the Jackson Hole Experts — Christy and Garth Gillespie at Jackson Hole Sotheby’s International Realty – garth.gillespie@jhsir.com or by calling us at 307-413-5243. We are busy getting ready for the summer season after a successful first few months. We are gladdly accepting new listings and if you call us soon we will be able to secure a spot in the coverted “Summer Catalogue”.

Jackson Hole Mentioned As One of the Top Ski Towns In the World

February 9, 2012/in General Jackson Hole Information, Jackson Hole Community

National Geographic just listed their top ski towns in the world and guess who is there — Jackson Hole! Here is the article:

http://adventure.nationalgeographic.com/adventure/trips/best-ski-towns-photos

There are some great towns listed but we believe the Best Ski Town is Jackson, Wyoming!

For more information on our wonderful town or real estate market please contact us at 307-413-5243 or email Garth and Christy at garth.gillespie@jhsir.com.

New Flights to Jackson Hole!

February 6, 2012/in General Jackson Hole Information, Jackson Hole Community, Second Homebuyers

Jackson Hole, Wyo.
United will add service to Jackson Hole from both its San Francisco and Houston hubs. The Houston service begins June 8 and will feature two weekly flights on Boeing 757 jets. The San Francisco service starts July 1 and will be operated daily by United Express partner SkyWest on Bombardier CRJ-700 regional jets. Both routes run through Aug. 27. In its release, United notes Jackson Hole’s proximity to both Yellowstone National Park and the Grand Tetons. United also flies to Jackson Hole from its hubs in Chicago, Denver and Los Angeles.

To learn more about flight schedules coming and going to Jackson Hole please feel free to contact the Jackson Hole Experts – Christy and Garth Gillespie – at 307-413-5243 or email us at garth.gillespie@jhsir.com.

Christy and Garth Gillespie – Jackson Hole Experts – A Little about Us….

January 18, 2012/in Christy and Garth Gillespie Info, General Jackson Hole Information

Christy and Garth Gillespie work together and approach every transaction with the intention of meeting and exceeding their customers’ expectations. They make sure the only surprises someone receives are good surprises by searching for the unexpected and striving for perfection. Real estate is not their hobby; it is their life and profession. They enjoy working with people from all locations and backgrounds, and after 15 years in Jackson Hole they have helped many discover the joys of living in such a wonderful community. Christy and Garth offer detailed, accurate market analysis, knowledge of local trends and experience in the Jackson Hole real estate market. They share a sincere love and passion of real estate and the details that go along with it, including financing, title work, inspections and everything else that goes along with the journey. Christy and Garth have systems to check and double check every detail. They see each transaction as an opportunity and do not take opportunities for granted. Christy, originally from Naples, Florida, literally grew up in the real estate business. Her parents owned a successful real estate company where she got her start, and success in the business seemed to follow her. Her love for the mountain lifestyle became evident after many family trips to Lake Tahoe and Vail, Colorado. She was lucky enough to find Garth at the University of Denver, where they both graduated with degrees in Business, and they married in Grand Teton Park. Garth joined Christy in real estate 11 years ago and hasn’t looked back since. Garth, who originally hails from Milwaukee, Wisconsin, loves dealing with people as well as taking marketing to new levels. Christy and Garth share their life with their six-year-old daughter. As a family, they spend their time hiking the Tetons, fishing and camping, and enjoying the outdoors. The Gillespie’s love Jackson’s wonderful sense of community and are grateful to be able live and raise their daughter in such a vibrant community.

Jackson Hole Real Estate November 2011 Market Update

December 2, 2011/in General Jackson Hole Information, General Real Estate Information, Market Updates, Real Estate Buyer & Seller News, Uncategorized

Novemeber 2011 has come and gone here in the Jackson Hole Real Estate Market and we witnessed a pretty strong month when looking at the year as a whole. There were 31 transactions last month — No quite the 13780 properties that sell every day in the United States but Jackson does contribute! “How’s the Jackson Hole Real Estate Market?” — Well, “We sell a property every day!”

In a couple of weeks we will be able to show you a graph of how we measure up when comparing Nov. 2010 to Nov. 2011 but in a nutshell, last year we had about $10 million more in sales volume but transactions were 16% lower. November 2011 saw a median sales price of about $550,000. This is quite low indicating a stronger low end market. This is encouraging in my eyes as we are really starting to see the lower end market strengthen. This of course is being generated by a few short sales, bank sales and realistic sellers. 1/3 of the market in Novemeber sold for under $400,000.

The higher end market saw some good signs too as we saw 2 transactions of about $7 million. The Jackson market had 9 sales over $1 million.

Other stats: 3 vacant land transactions, 5 condo transactions in Teton Village, 10 sales in the Town of Jackson.

Please call with any questions or if you need any additional information on the Jackson Hole Real Estate Market — Garth Gillespie, sales associate and partner of the Gillespie Real Estate Team – Jackson Hole Sotheby’s, 307-413-5243 or email at garth.gillespie@jhsir.com.

Are you ready for winter in Jackson Hole?

October 27, 2011/in General Jackson Hole Information, Jackson Hole Mountain Resort, Skiing

The beautiful oranges and yellows of fall are alive in Jackson Hole. The sun is shining, temperatures have cooled off and the tourists have left after a busy summer season. Don’t be fooled! Winter is just around the corner and weather experts are expecting another big winter, much to the delight of local skiers, tourists and the folks at Jackson Hole Mountain Resort. While it won’t be an easy task to top last year’s record breaking snow fall of over 700″ (locals are still talking about their epic ski runs from last winter), Jackson Hole Mountain Resort is ready another “La-Nina” snow year.

During these times of economic uncertainty, while many ski resorts are tightening their budgets, Jackson Hole Mountain Resort continues to show its commitment to improving and enhancing the skier experience. Construction is nearly complete on the new Marmot chairlift, which will provide access from the bottom of the Thunder chairlift up to the top of the Gondola and the Coulier Restaurant. JHMR will also increase their snow making capacity and will have an additional cat for more grooming.

Getting to Jackson Hole this winter will be even easy with direct flights from Atlanta, Salt Lake City, Denver, Chicago, L.A. and Dallas. A new flight from Newark takes off this season as well. From the airplane window, visitors can get their first glance of the 4,200 feet of vertical available for skiing, along with the famous Grand Teton mountain range. There are several winter lodging / skiing packages available. Click HERE for more information.

Jackson Hole Sotheby’s International Realty has several Teton Village property opportunities from condos to condohotels to single family homes. The Gillespie Real Estate Team can help you find the perfect ski vacation home. Contact us at 307-413-5243 or garth.gillespie@jhsir.com

Jackson Hole Economic Dashboard – Sept 2011

September 15, 2011/in General Jackson Hole Information, Jackson Hole Chamber of Commerce, Jackson Hole Community Events, Jackson Hole Economy

Every month the Jackson Hole Chamber of Commerce prepares a “Economic Dashboard” for the Jackson Hole, WY area. This useful report analyzes sales tax revenue, tourism and visitation numbers at Grand Teton National Park and Yellowstone National Park, Jackson Hole Airport enplanements, lodging occupancy at local hotels, real estate sales, construction permits and job and rental ads in the Newspaper. All of these numbers, along with their comparison to last years numbers, better helps us understand the economic climate in Jackson Hole.

In summary…….

Sales Tax Income for the Town of Jackson and Teton County for July 2011 was up 11% verses July 2010 and up 23% compared to 2009. (As reported by the Wyoming Department of Revenue).

Tourism & Visitation: Visitation at Yellowstone National Park was down by 6% for August 2011 (vs. Aug 2010) However, year to date visitation was down only 3% compared to 2010. Visitation at Grand Teton National Park was down 5% for August 2011 (vs. Aug 2010). Year to date visitation was down 7% from year to date 2010.

Jackson Hole Airport Enplanements for August 2011 were only slightly down (0.4%) compared to Augst last year, but down 6% from August 2009.

On the positive side……

Visitor inquiries for August 2011 were up by 16% as compared to August 2010 and up 40% compared to August 2009. It appears more people are looking into traveling to Jackson Hole.

Lodging rates were pretty similar compared to August 2010. Year to date lodging rates were up 2% from 2010 and 8% from 2009. Not reported in this economic dashboard report is the Fall Arts Festival, in Jackson Hole between September 8 and September 18, which currently has in Town hotels and lodges at full occupancy.

Real Estate Sales (our area of expertise) were up 24% (unit sales) and up 11% (sales volume) for the second quarter of 2011 when comparing to the same quarter in 2010 and up 163% (unit sales) and up 102% (sales volume) from the ‘bottom’ of the market in 2009.

Construction Permits for August 2011 were up by 57% compared to August 2010 and up 7% from January-August verses last year.

For additional information, contact The Gillespie Real Estate Team at 307-739-8056 or garth.gillespie@jhsir.com.