General Real Estate Information Archives - Page 4 of 15 - Christy & Garth Gillespie

September Jackson Hole Real Estate Sales

October 8, 2013/in General Real Estate Information, Market Updates, Real Estate Values

Fall Aspen Leaves

September Jackson Hole Real Estate Sales Update:

September….a favorite month in Jackson for many as the nights cool off, the leaves change to a beautiful orange and yellow and the elk begin to bugle. It is normally a strong Real Estate month too. How was the Jackson Hole Real Estate market in September of 2013?

Healthy but not robust would be how we categorize our current market. September 2013 had 47 residential and land transactions with a sales volume close to $31,500,000. The transaction numbers are 28% higher than 2012 September numbers but our volume is off by about 44%. A closer look at the numbers: 47 sales with 39 residential sales verse 8 land transactions. 28 of the residential sales took place under $1 million. The highest sale was $4.8 million which was a large estate home at Spring Creek Ranch. The Town of Jackson dominated the action with 19 sales, 7 sales South of Town and 4 sales in Teton Village. The 8 land transactions were spread throughout and the highest sale was $1,150,000 for a 4 acre lot north of town at Upper Cascade subdivision.

The September numbers look a little down but the market has quite a few pending transactions. Currently there are 91 pending transactions with a transaction that was priced at $32,500,000, one listed for $25 million and another listed for $15 million! Total listed volume is almost $200,000,000! 2/3rds of the pending transactions are priced under $1,000,000.

If you are interested in learning more about the Jackson Hole Real Estate Market please do not hesitate to call the Jackson Hole Experts at 307-413-5243 or send an email to garth.gillespie@jhsir.com. To learn more about coming to Jackson for the Fall or Winter check out the Jackson Hole Chamber of Commerce website.

5 Reasons To Hire Christy and Garth Gillespie – Jackson Hole Real Estate Agents

September 13, 2013/in Christy and Garth Gillespie Info, First-time Homebuyer, General Real Estate Information, Jackson Hole Economy, Real Estate Listings

Christy and I are proud to work with many different buyers and sellers in the Jackson Hole real estate market each and every year. We work extremely hard is taking care of our customers in all of the aspects of a real estate transactions. We sat down the other day and discussed what we do and why we believe Buyers and Sellers call us. It was an extremely interesting team meeting and we came up with many reasons but we kept coming back to these 5 reasons:

1. We help with all the disclosures and paperwork necessary in today’s heavily regulated environment. Of course we don’t do all of these ourselves but we do have a large team of individuals and businesses that assist in this. Buying and Selling real estate involves a lot of paperwork! Our team consists of three of us — Christy, Garth and Audrey Williams. Audrey Williams is a licensed agent that works as our Client Coordinator.

2. We are well educated in and experienced with the entire sales process. There are not many real estate agents or teams in Jackson Hole that complete the amount of transactions the Gillespie Real Estate Team does year after year. In 2013 we have already completed 33 transactions – that’s 1 transaction every week! We have seen the difficulties in financing in the current banking environment, we have seen prices jump in the beginning of 2013 which have now settled down, we have seen inventory shrink and sellers raise their listing prices…we have basically seen the market evolve in the past year and know how to handle the current environment.

3. We act as a “buffer” in negotiations with all parties throughout the entire transactions. We enter every transaction trying to make it as easy as possible for all parties involved.

4. We understand today’s real estate values when setting the price on a listing or on an offer to purchase. Emotions can run high when people are negotiating. We try to explain the statistics, the trends and make sense out of the whole process. Some neighborhoods are easier than others but we sit down with each Buyer or Seller and lay out reasons for Listing Prices or where current values are headed.

5. We simply and effectively explain today’s real estate headlines and decipher what they mean. There are so many mixed signals in the press today. Values going up, inventories shrinking, interest rates rising, markets cooling off…..what does all this mean. We are here to explain.

To learn more about Christy and Garth Gillespie – the Jackson Hole Real Estate Experts – Call us at 307-413-5243.

August 2013 Jackson Hole Real Estate Market Review

September 12, 2013/in Christy and Garth Gillespie Info, General Real Estate Information, Market Updates, Real Estate Values, Uncategorized

After a hiatus Christy and Garth Gillespie are back to blogging. The Jackson Hole real estate market has been very busy so far for 2013. We have been exceptionally busy and are having one of the best years that we can remember ever having. Why? We pride ourselves in pricing properties correctly and educating our Sellers and Buyers as to what is “current market”. We have seen 4-5 years of depreciating sales and prices so now that we have better sales and prices are increasing it takes time to understand the market. Unfortunately many sellers and agents working with sellers have over priced their properties because they saw the market heat up. Buyers are out there but they are not stupid and are not willing to over pay for properties now that the market has done better these past 6 months. There has been a nice increase in property prices of anywhere between 10-20%.

August was a good month with 50 sales market wide. Over half the sales were for single family homes spread out around the valley. Town had the most sales with 13 but also the lowest average sales price so most of these sales were either condos/townhomes or entry level homes. North of Town also saw nice traffic as we had 7 sales. Teton Village, 6 sales, has invested a lot of money in its infrastructure in the past 4-5 years and it is starting to see the benefits as occupancy has been at very high levels all summer. Melody Ranch had a good August with 4 sales including the first reported million dollar sale of the year at $1.1 million (Listed by Garth and Christy Gillespie).

The highest sale recorded in August was $19,250,000 million for a home/estate located at Teton Village. Notably both sides of the transaction were represented by Jackson Hole Sotheby’s International Realty. The Auction was put on by Concierge Auctions.

Total Sales Volume for August was just about $70 million. Average Sales Price verse List Price was 95%. Median sales price was $770,000 and the average sales price was $1,334,000.

If you have any questions or comments about this report please feel free to email Garth at garth.gillespie@jhsir.com or to call at 307-413-5243.

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.

Melody Ranch Jackson Hole – New Listing – 1261 Melody Creek Lane

May 18, 2012/in General Real Estate Information, New Listing in Jackson Hole, New Listings, Real Estate Buyer & Seller News, Real Estate Values

Stunning new listing in Melody Ranch — Jackson Hole, Wyoming. This fabulous home is located at 1261 Melody Creek Lane, a highly desired subdivision just a few miles south of the Town of Jackson.

Melody Ranch, just 4 miles south of the Town of Jackson, is a place of wide-open spaces, remarkable views and a strong sense of community. While residents appreciate the development for its close proximity to town and its natural beauty, they also love the fact that it feels like a true neighborhood, a place where people have chosen to make as their year-round home in Jackson Hole.

1261 Melody Creek Lane is a wonderful, newer (2009) custom built home. Every detail of this home was done with quality in mind. Very few homes have been built to the standards that this home has in the neighborhood. Highlights include full hydronic in-floor heating throughout the entire home fueled by natural gas. 5 bedrooms – 4 of which are suites which include full bathrooms. One of which is a substantial master bedroom with views to the south, vaulted ceilings, access to a back deck, spacious master closet and an elegant master bathroom. The entire first floor has beautiful skip sawn hickory flooring and the entire home is equipped with solid Alder doors and trim work.

This is a home that must be seen to be appreciated so call Christy and Garth Gillespie at Jackson Hole Sotheby’s to set up a showing. We can be reached at 307-413-5243 or send us an email at garth.gillespie@jhsir.com.

River Front Property in Jackson Hole – 4375 Shidner Lane, Jackson, WY 83001

May 17, 2012/in General Real Estate Information, Horses, New Listing in Jackson Hole, Real Estate Values, Uncategorized

“A River Runs Through It” and a special one at that – The Hoback River. The Hoback River was recently granted Wild and Scenic River status in 2009 and is one of the more beautiful area in the greater Teton County area.

Christy and I are honored to have been selected to market and sell this wonderful property. The property itself is an incredible parcel of 11 acres and has an absolutely gorgeous 6,000- sq. ft. custom log home.

The stone fireplace soars in the greatroom with cathedral ceilings looking towards the river mountains to the south. The main level has a beautiful gourmet kitchen, executive office and dining room all centered around the great-room. The main level also boasts the large master suite. The upper level of the home has 2 spacious guestrooms and a full bathroom. In the lower level we have a wonderful game room and 3 full bedrooms.

The 11 acres are perfect for a horse set up as 8 of the acres are a lush meadow. The property comes with Wyoming Water Rights allowing for extensive irrigation.

It is hard to explain what an amazing opportunity this is for a potential buyer to have this type of property available. The access to hunting and excellent fly fishing is almost impossible to duplicate in the Jackson Hole area. The fly fishing alone allows for an angler to have almost 3 full miles of rarely fished cutthroat fishing. Deep pools, rifles and runs provide variety and challenges for all types of fishermen. There is excellent opportunities for floating the river in kayaks or a raft. The National Forest is in view from every window.

The home is offered below replacement cost at $1,780,000. Call the Gillespie Real Estate Team at 307-413-5243 or email us at garth.gillespie@jhsir.com.

Jackson Hole Real Estate Market Update April 2012

May 16, 2012/in Christy and Garth Gillespie Info, General Real Estate Information, Market Updates, Uncategorized

Jackson Hole Real Estate Market update for April 2012. We are selling a property just about everyday! Last month the Jackson Hole real estate market had 26 closings for the month which included 21 residential properties and 5 vacant land parcels. The 5 land deals were a welcome sight as we seem to have seen an increase of activity in this market segment.

The median residential sale price was close to $800,000 and the average listing price was $1,300,000. The highest sale was not recorded but was listed for $7,995,000. We saw a resurgence of “non-reported” sales as we saw 6 out of the 26 closed transactions (23%) report a $0 sales price.

Sales were scattered throughout the valley with 8 sales taking place in Wilson or Teton Village, 6 sales taking place “north of town” and 8 sales taking place in the Town of Jackson. Average days on market were 261. 10 sales took place over $1 million.

Activity continues to hold pace as we have 61 pending transactions – 5 of which are vacant land.

For additional information on the Jackson Hole/Teton County Wyoming Real Estate Market please feel free to contact the Jackson Hole Experts – Garth and Christy Gillespie at 307-413-5243 or by email at garth.gillespie@jhsir.com.

Wow! What is happening to high end real estate in Jackson Hole?

April 25, 2012/in General Real Estate Information, Jackson Hole Mountain Resort, Real Estate Values

March and April of 2012 have started with a bang! Major “transactions” have been taking place in Jackson Hole these past few months and we are really getting excited about the upcoming summer. Since March 1^st we have had 47 closings with 15 of those over $1 million dollars! Half of those have been over $2 million and of those there have been 4 transactions over $6 million.

The action is not stopping either. There are currently 12 under contract over $1 million dollars. The biggest surprise has to be the vacant land buyers on the high end. Since April 20^th, 7 parcels have either sold or are under contract that were priced over $1 million. On the high end side 2 parcels closed north of town in the Bar BC Ranch neighborhood that had listing prices of $6.5 and $8.9 million. 2 more properties just went “under contract” in the past week that are priced at $5 and $6.5 million?

Another observation is even though Teton Village and the Jackson Hole Mountain Resort have closed for the ski season properties at the village have really been selling. A Granite Ridge Lodge, an older Teton Village home and a Four Season Resort property have all sold. There is one Older Teton Village home under contract and 2 vacant land parcels in the Granite Ridge Subdivision.

This is great news for the Jackson Hole Real Estate Market. As more information is gathered about these transactions we will post it. If you need additional information on the Jackson Hole market please feel free to call us at 307-413-5243 or email us at garth.gillespie@jhsir.com.

Jackson Hole Home Prices Ready to Rebound?

April 18, 2012/in Christy and Garth Gillespie Info, Financing, General Real Estate Information, Mortgage Updates, Real Estate Buyer & Seller News

This is a great cover from one of the more trusted investment institutions – Barron’s. The article explains how there is a belief that housing prices will remain rather flat for the year but by the beginning of 2013 we should start to see some appreciation in the housing market.

What’s important here is that there is a general feeling that appreciation is going to start soon. If you are on the fence about getting back into the housing market there are a lot of signs and people saying now is a good time to jump in. Last week home mortgages hit another low but we should not expect rates to stay low like this ever. If the economy and job market continues to improve we can hedge a bet that loan rates will slowly rise again.

To learn more about the real estate market and especially the Jackson Hole real estate market please call us, Christy and Garth Gillespie @ 307-413-5243 or send us an email at garth.gillespie@jhsir.com.

Jackson Hole Housing on the Rebound?

April 17, 2012/in Christy and Garth Gillespie Info, General Real Estate Information, Real Estate Values

Day 2 of our informative real estate slides that are painting a pretty picture of the real estate market. In todays snapshot we see Morgan Chase CEO, Jamie Dimon talking to his readers and listeners that he sees nothing but upward momentum in today’s real estate market.

It is interesting to see him predicting downward pressure on prices (due to foreclosures and short sales) but also signaling and bullish outlook on buying or investing in real estate.

Investors have been interested in the current real estate market due to the lower pricing. But what we are starting to see is rent increases. This will only add fuel to the fire so Christy and I believe lower end rental condos and townhomes along with multiunit properties are going to be the “hottest” market this summer. The only thing we see that would block this momentum would be if a inventory becomes are to find….guess what happens then? We may see some price increases by year end!

For more information on the Jackson Hole Homes for Sale contact The Gillespie Real Estate Team – Christy and Garth Gillespie at 307-413-5243 or email us at garth.gillespie@jhsir.com.