Watch the State of Real Estate Forum

A lot has changed since our last community forum in May! We’re starting to see an uptick in tourism, and businesses are starting to open up. Within the guidelines that Governor Mark Gordon has put into place, of course.

Even though Jackson is on the road to some sort of normalcy, we are wondering what that means for our town. What will summer look like? How are we adapting? We hosted the second State of Real Estate Community Forum last week and invite you to view the recording above.

We were joined by, Mary Kate Buckley, the esteemed CEO of Jackson Hole Mountain Resort. She discussed the impact of early closures on the ski industry, her thoughts on the travel and tourism for the rest of 2020. Her thoughts on strengthening local business this summer, as well as for the upcoming ski season. We’re thrilled that she agreed to speak at our Community Forum.

Jackson Hole Real Estate Associates real estate experts including Christy have been watching the Jackson Hole market closer than ever, and they discussed how real estate value has been impacted, and what segments of the market are most vulnerable in the current climate. We also addressed what we’re seeing in the realm of lending, relocation and predictions for the upcoming quarters.

If you have any questions about the community forum or the real estate market please reach out to us!

2013 Year End Market Report

Watch a video to see what Christy has to say about the 2013 market and how it will lead into 2014.

For a more detailed report, please read the 2013 Market Report.

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

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.


Market Update – February 2013

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.

2011 Jackson Hole Real Estate Results Provided by Christy and Garth Gillespie and Jackson Hole Sotheby’s

Here is some excellent information about the Jackson Hole Real Estate Market.  Please notice the trend – our market is improving.  The month of December 2011 was the second strongest dollar volume month we have seen in a year.  As the chart points out December unit volumes rose 60% and sales volume rose 72% when compared to last years numbers.  The overall trend on unit sales and sales volume is on an upward slope.  Unit volumes have improved 8 of the last 9 quarters!  Thats impressive.

To get more information about the Jackson Hole Real Estate market check back here frequently or email us at  Christy and Garth Gillespie are some of Jackson’s strongest real estate agents call us to find out why and how we do it – (307)-413-5243.


Jackson Hole Economic Dashboard – Sept 2011

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