Don’t believe everything you hear about the Real Estate market

According to Fannie Mae’s most recent findings, 23% of Americans believe home prices will decrease in twelve months. Why do approximately one in four individuals harbor such sentiments?

This sentiment is primarily attributed to the pervasive negative discourse surrounding home prices throughout the past year. Since late 2022, the media has propagated apprehensions about an impending price crash, and these concerns persist. Perhaps you’ve encountered people in your personal circles expressing anxiety about home prices, or you’ve encountered influencers on social media predicting a substantial decline.

If you find yourself among those anticipating a drop in prices, consider this: where is the more dependable source of information – sensationalistic headlines and social media or insights from reputable experts in the housing market?

The answer is clear. Trust the guidance of professionals specializing in residential real estate.

Here’s the latest data that merits your trust. Experts in the housing market acknowledge a slight national price dip late last year, but this was transitory. Current data demonstrates a rebound in prices this year following that brief decline in 2022 (refer to the graph below):

However, it’s not solely Fannie Mae conveying this resurgence. Various experts within the industry are corroborating this trend in their data. This widespread acknowledgment is a key reason why numerous forecasts anticipate a positive net growth in home prices for the year, as opposed to a negative trajectory. The graph provided below substantiates this perspective by illustrating the latest projections from each organization:

Notably, just a few weeks ago, Fannie Mae’s forecast indicated a 3.9% appreciation for 2023. However, the latest update has revised this projection to 6.7% for the year. This substantial increase underscores experts’ high confidence in a positive trajectory for home prices this year.

If you hold the belief that home prices are on a downward trend, it might be prudent to turn to expert opinions, which consistently assert that prices are, in fact, on the rise.

In conclusion, the past year has seen a proliferation of misleading information regarding home prices, which has influenced current perceptions of the housing market. Nevertheless, it is crucial not to accept everything you hear or read unquestioningly.

Are you interested in more information? Let’s chat!

Welcome Summer! Data Indicates Homebuyers are Jumping Back into the Market


With stay-at-home orders starting to gradually lift throughout parts of the country, data indicates homebuyers are jumping back into the market. After many families put their plans on hold due to the COVID-19 pandemic, what we once called the busy spring real estate season is shifting into the summer. In 2020, summer is the new spring for real estate.

Joel KanEconomist at The Mortgage Bankers Association (MBA) notes:

Applications for home purchases continue to recover from April’s sizable drop and have now increased for five consecutive weeks…Government purchase applications, which include FHA, VA, and USDA loans, are now 5 percent higher than a year ago, which is an encouraging turnaround after the weakness seen over the past two months.

Additionally, according to Google Trends, which scores search terms online, searches for real estate increased from 68 points the week of March 15th to 92 points last week. As we can see, more potential homebuyers are looking for homes virtually.

What’s the Opportunity for Buyers?

Another reason buyers are coming back to the market, even with forced unemployment and stay-at-home orders, is historically low mortgage rates. Sam Khater, Chief Economist at Freddie Mac indicates:

For the fourth consecutive week, the 30-year fixed-rate mortgage has been below 3.30 percent, giving potential buyers a good reason to continue shopping even amid the pandemic…As states reopen, we’re seeing purchase demand improve remarkably fast, now essentially flat relative to a year ago.

With mortgage rates at such low levels and states gradually beginning to reopen, there’s more incentive than ever to buy a home this summer.

What’s the Opportunity for Sellers?

Finding a home to buy, however, is still a challenge, as this spring sellers removed many listings from the market. Though more people are now putting their houses up for sale this month as compared to last month, current inventory is still well below last year’s level.

According to last week’s Weekly Economic and Housing Market Update from

Weekly Housing Inventory showed continued tightening. New Listings declined 28% compared with a year ago, as sellers grappled with uncertainty and hesitated bringing homes to market. Total Listings dropped 20% YoY, a faster rate than in prior weeks, leaving very few homes available for sale. As Time on Market was 15 days slower YoY, asking prices moved up 1.5% YoY.

If you’re thinking of selling your house this summer, now may be your best opportunity. With so few homes on the market for buyers to purchase, this season may be the time for your house to stand out from the crowd. Trusted real estate professionals can help you list safely and effectively, keeping your family’s needs top of mind. Buyers are looking, and your house may be at the top of their list.

Bottom Line

If you’re thinking of selling, many buyers may be eager to find a home just like yours. Let’s connect today to make sure you can get your house in on the action this summer.

To learn more or have questions, please don’t hesitate to contact us.

Experience Jackson Hole | The Catalog of Fine Properties

We are pleased to present Experience Jackson Hole: The Catalog of Fine Properties and Lifestyle for Summer 2019. Inside readers will find a selection of exceptional homes and properties from Jackson Hole, Star Valley, Teton Valley and the surrounding regions, as well as a look at the organizations, people and culture that make this area such a remarkable destination.

With centuries of combined experience and 11 locations across the Mountain West, our team provides the highest standard of service and an unmatched understanding of the region’s markets. Jackson Hole Real Estate Associates is proud to represent the most buyers and sellers of any real estate brokerage in the region.

Our affiliations with Christie’s International Real Estate and Leading Real Estate Companies of the World provide access to the world’s leading global networks. Coupled with our innovative marketing strategies, Jackson Hole Real Estate Associates provides the greatest exposure for sellers and best opportunities for buyers.

Whether you are in the market, or simply want to learn more about the area, no one knows Jackson Hole and the region better.

We invite you to explore Experience Jackson Hole: The Catalog of Fine Properties and Lifestyle. And, as members of the Multiple Listing Service (MLS), we can assist you with any property in the region.

Summer Catalog of Fine Properties

Our Summer Catalog of Fine Properties has arrived!

We are pleased to present this current selection of exceptional real estate as well as information pertaining to some of the wonderful resources and organizations available to our visitors and residents. Please stop by one of our locations to pick up a copy or follow the link to view the digital version.

View Catalog of Fine Properties >

Winter Catalog of Fine Properties

Our Winter Catalog of Fine Properties has arrived!
We are pleased to present this current selection of exceptional real estate as well as information pertaining to some of the wonderful resources and organizations available to our visitors and residents. Please stop by one of our locations to pick up a copy or follow the link to view the digital version.
View Catalog of Fine Properties

3 Reasons to Think About Buying Real Estate Right Now

November2014-33-175x131 November2014-11-175x131 Average FICO Score FHA loan






Right now is an excellent time to be looking into financing  a home purchase.  As we can see from the charts above – it is easier to qualify and is cheaper than ever.  This should be the encouragement you have been looking for if you have not already made the purchase you have been dreaming about.  Christy and Garth Gillespie are experts in the real estate field and have the knowledge to assist you in looking for the perfect opportunity.  Inventory is low but there are still some excellent deals in certain segments of the Jackson Hole Real Estate market.

For more information please contact Christy and Garth Gillespie, the Jackson Hole Real Estate Experts, at 307-413-5243 or email us at

Real Estate Sales in Jackson Hole – Graph

Thanks to the hard work of the staff at Jackson Hole Real Estate Associates we are able to provide you with an excellent graph outlining the recent history of sales in Jackson Hole, Wyoming.

As we can see the 3rd quarter was very strong and recorded the 6th strongest quarter since 2007.  The lower end market continues to be extremely strong but we saw good sales market wide.  If you would like additional information please contact Christy and Garth Gillespie at 307-413-5243 or email us at

3rd Quarter- 2014 – Results – Jackson Hole Real Estate

Christy and Garth Gillespie, The Jackson Hole Real Estate Experts, and Jackson Hole Real Estate Associates are proud to release the latest statistics on the Jackson Hole Real Estate market.

3rd Quarter 2014 Jackson Hole Real Estate Report











Market Report – 3rd Quarter 2014
Overall Market: The Jackson Hole real estate market finished the 3rd quarter of the year with rousing statistics. At 2014 mid-year, the market had yet to see much growth from the previous year. However, the end of the summer brought impressive gains from the previous quarter with total dollar volume remaining level compared to the same period last year with an approximate 12% drop in the number of sales. This is a shift from previous quarters in 2014 where the total dollar volume struggled to keep pace with the robust activity in 2013. The market has been able to maintain a level dollar volume of sales despite a double digit drop in the total number of transactions, it is a clear indicator that market values are increasing. When looking at the market as a whole – the average and median sale prices increased about 14% – 15%. In fact, the average and median sale prices increased in every segment of the market. Market share continues to be taken away from the under $500,000 segment (down 5%) while the over $2M segment increased nearly 5%, respectively. Overall inventory continues to decrease each quarter. When compared to the third quarter of 2013, inventory is down 13%. See more detail below on each segment of the Jackson Hole real estate market.

Single Family Market: The single family segment made incredible gains in price appreciation compared to the 3rd quarter of 2013. The median sale price of a single family home in Jackson Hole reached $1,100,000, a $300,000 increase from this time last year. The major difference being the shift from sales in the under $500,000 category (down 73%) to the sale of homes over $1M (up 15%). Finding a single family home under $500,000 can be challenging – there have been 9 this year compared to 33 this time last year. This growth is undeterred by the considerable drop in the number of transactions, which are down 22% over last year. As is typical of the single family segment, the majority of the transactions took place in the Town of Jackson and South of Jackson, albeit in much smaller quantities this year. The greatest increase in sales took place south of Wilson with a 138% increase in transactions. The single family home inventory remains low; particularly, homes under $1M with inventory down 23%.

Condo/Townhouse Market: Condominiums and townhomes in Jackson Hole have been on the upswing. With a more affordable price tag than single family homes, condominiums and townhomes have been very popular and transactions have remained level when compared to last year. This stability contributed to a total dollar volume increase of 5%, making this the only major segment of the market with an increase in total dollar volume. Condominiums and townhomes were among the first properties to experience appreciation and sale price gains during the market recovery. This trend has continued this year with both average and median sale prices increasing approximately 7% – 8%. The median sale price of a condominium/townhome in Jackson Hole has risen to approximately $452,000. About half of the condominium/townhome sales this year were under $500,000. At this time last year, nearly 60% of the sales were under $500,000. The lack of inventory was especially prominent in this segment of the market with active listings at the end of the 3rd quarter down 27% from last year.

Vacant Land Market: The vacant land segment of the market has made continued improvement. While the number of sales were down about 20% from 3rd quarter of 2013, the average sale price was up 20%. This was spurred by a 55% increase in the number of sales between $2M and $5M, and a 34% decrease in the number of sales under $500,000. Possibly a more accurate measure of the vacant land market is the median sale price which increased 2% over last year. Historically, the Town of Jackson and the area South of Jackson compete for the most land sales of any other area. However, the Town of Jackson had a huge drop (down 78%) in land sales compared to this time last year, and the area South of Jackson proved to be a hotspot with 24 total land sales. This accounted for about 31% of all land sales this year, far more than any other area. The vacant land segment as a whole has continually improved each quarter since market recovery. Land sales have been marred by the huge amount of inventory in the past, however, this trend continues to improve, with an approximate 10% drop in the number of parcels currently listed for sale. Vacant land will become more popular with buyers as existing home inventory diminishes, as well as affordability.

Luxury Spotlight: Jackson Hole, Wyoming is synonymous with luxury and is an international marketplace for luxury real estate. The demand for high quality, exclusive properties has outperformed this time period last year by approximately 18% when looking at the number of transactions. The total dollar volume of those transactions accounted for over $160M in sales, an approximate 11% increase over last year. Record Sale (through Q3): $24,500,000 (list price). Average Sale Price Above $3M: $5,706,708. Number of Sales Above $3M: 26

Jackson Hole Real Estate Associates exclusively owns and maintains the valley’s oldest and most comprehensive market report and database. The Jackson Hole Real Estate Associates’ Market Report, unlike others in the valley, is derived from the JHREA proprietary, forty year old database (not just mls data) as well as decades of history and success making this the most trusted and accurate real estate report in the region. No other real estate company or agent has the resources available to offer this depth of expertise or insight regarding current or previous market conditions. The unmatched resources and knowledge of Jackson Hole Real Estate Associates, the largest and most dynamic real estate company in the region, combined with the largest luxury real estate affiliation, Christie’s International Real Estate, offer the ideal balance of local expertise and global reach.

* The statistics used in this report are from the Teton Multiple Listing Service (MLS) and JHREA’s internal database.
* This report does not go into detail on every segment of the market, but is intended to offer an overview of general market conditions.
*All statistics are supplied by sources that have been deemed reliable but are not guaranteed.

For additional information or a market update in your area, please do not hesitate to contact one of our real estate professionals.

For Additional Comments and/or thoughts please do not hesitate to call Garth and Christy Gillespie at 307-413-5243 or email us at the


Best Teton Views In the Town of Jackson

Fabulous home on Snow King Mountain with some of the best views of the Tetons.

Fabulous home on Snow King Mountain with some of the best views of the Tetons.

6 Bedroom, 4,500 sq. ft. home with 5 garage bays.  Borders the National Forest

6 Bedroom, 4,500 sq. ft. home with 5 garage bays. Borders the National Forest










Just Listed!  955 Snow King —

This 4,424 beautiful multi-level home has stunning views of the Elk Refuge and Teton Range. This home has been thoughtfully built into a gently sloping hillside which maximizes the Teton views from almost every room. The entry features a grand foyer with cathedral ceilings and a staircase that ascends to the centerpiece of the home on the 2nd level. This middle level features an inviting open floor plan with multiple living areas perfect for family living or entertaining. A gracious living room with a gas fireplace opens to a beautiful dining area & a curved custom built bar. Vaulted ceilings, hickory floors, and expansive windows create a sense of warmth and space to the dining room and kitchen areas.

The spacious kitchen flows from the dining area and is wonderfully designed with large windows for plenty of sunlight and access to the deck and hot tub area. The kitchen also features: a walk in pantry, cozy sitting area complete with a gas fireplace and access to a media room to enjoy a family movie or curl up with a great book. The upper level of the home is a master suite with vaulted ceilings and a cozy sitting area with a gas fireplace. Large windows and its own private deck allow you to bask in the view of the Tetons. The master bath is as equally inspiring with perfectly framed views, steam shower and large soaking tub. The upper level is complete with 2 more spacious guest rooms & a bath. The lower level of the house features 2 bedrooms which can easily become a guest apartment with its own private access and garage. The home features a total of 5 attached garages and 2 mud rooms, a dog wash, a wine cellar, expansive landscaping with rock terraces and wildflower gardens. Not to mention you can hike from your back door into USFS for miles.

Price — $1,875,000

For additional information on this wonderful listing or to set up a showing please contact the “Jackson Hole Experts” Christy and Garth Gillespie at 307-413-5243 or email us at

Great Time To Be Interested In Jackson Hole Real Estate



Excellent info graph on house appreciation

Excellent info graph on house appreciation

Here is a really great info graph we got today from our friends at Keeping Current Matters.  Keeping Current Matters is a club that Christy and I subscribe to as they provide us with unbelievable insight into the current real estate market.  A lot of the information is very general but we are able to adapt it to our Jackson Hole Real Estate or at least be able to make comparisons to our market.

If you would like additional real estate information please feel free to contact us at 307-413-5243 or by email at