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!

Summer is the New Spring for Real Estate

The usual spring busy season has been pushed back this year as many home buyers and sellers delayed  their original plans. Mostly due to uncertainty caused by the pandemic. As restrictions gradually lift in parts of the country, data indicates homebuyers will return to many markets. 

Nationally, Google Trends, which monitors and rates online search terms, reported that searches for the term “real estate” increased from 68 points the week of March 15th to 92 points last week. Supporting that data, our company website, JHREA.com also saw a 134% traffic increase when comparing April 2020 to 2019 This clearly shows that more potential homebuyers are looking to purchase virtually. Fortunately, Jackson Hole Real Estate Associates led the charge early in the pandemicincreasing its virtual resources extensively in response to fueled interest in real estate in Jackson Hole. We added virtual open house web page and hosted the first virtualcommunity wide State of Real Estate forum in the area. With the goal of providing insight to the quickly changing economic climate.  

As we continue to work our way to recovery, Jackson Hole Real Estate Associates has been closely tracking the local market to give our clients insight into how the pandemic is impacting real estate in Teton County. 

To provide perspective, we are monitoring weekly data from the Teton County Multiple List Service and comparing that data to prior year. The result is real-time knowledge to empower your buying or selling decisions.  We are pleased to introduce our new Monthly Market Trend Newsletter.

After a record breaking Q1 2020, with a 29% increase in total dollar volume for Jackson Hole Real Estate Associates, the pandemic uncertainty has played a role in market.

When comparing data from March 1st (when the pandemic started to impact the market) through June 7th  2020 vs. 2019. The Total Dollar Volume is trending positively8% higher than the same time period last yearThis is due primarily to continued strength in the highend market with several multi-million dollar sales in the last weeks of May and first week of June 2020. 

Another indicator of a robust high-end is a 33% increase in median list price to $2.4M comparing data from March 1st though through June 7th 2020 vs. 2019. Coupling the median sales price increase with a 36% drop in the number of transactions, the numbers do support strength in the high-end segment of the market.  

New Listing LAG

Uncertainly in the Teton County Real Estate market has impacted new listings overall. Lagging 31% when compared to last year (March 1st though through June 7th). Lack of inventory and perhaps buyer confidence, seems to have impacted the number of properties under contract. Which were down 47% compared to this time last year. Withdrawn listings in the Jackson Hole area increased modestly during this time.  

An Increased Demand for Non-City Living. Remote Work Opportunities Up.

A recent Kaiser Family Foundation Study found that 34% of people with jobs said they were working remotely. LinkedIn data shows people in cities hit hard by pandemic in — New York, San Francisco and Seattle — are searching for remote work opportunities significantly more than the rest of the countryReal estate data also suggests many are already considering or making a move to a smaller town. The pandemic is making people reconsider city living, trading congestion for open space.  

With a market that has nearly always had a lack of supply, demand does not appear to be waning. According to a recent article by Redfininterest in real estate in rural areas skyrocketed while interest in cities fellAnd while pending home sales are down all over, less populated areas haven’t been hit as hard as large cities, according to Redfin. 

It is our continued goal to remain your trusted advisor in real estate This spring and summer will be an interesting time to watch our local market. Please look for our newsletter next month, as we stay on top of evolving trends. 

To learn more or for more information specific to your area, please don’t hesitate to contact us.

Bear Island Lodge

Custom log home on over 19 acres along the Snake River.

Every once in a while we come upon an extraordinary property that is truly a one-of-a-kind Jackson Hole property. A place so private the only sounds you will hear are those of the wildlife calling. A place for creating memories. Welcome to Bear Island Lodge! Located on over 19 acres along the Snake River, this exquisite estate offers unparalleled luxury, craftsmanship and authentic Jackson Hole living throughout its grand living spaces and acreage.

Every detail from the custom designed iron lighting to the antler staircases has been created by the west’s best craftsmen and commissioned exclusively for this property. Enjoy its expansive ironwood deck, rolling lawn, outdoor fireplace for star gazing, swimming pool and billiards bar. If you’re up for adventure, world-class fishing is just out your back door or Grand Teton National Park is only a few minutes away. In addition, there is a 2 bedroom guest house complete with its own garage and an extra 4 car detached garage which features: a finished storage space, a workshop and studio. With all of its scale and splendor, the property remains warm and inviting, making it a unique retreat for intimate family life yet poised for large-scale entertaining. Property sold completely furnished.

THE DETAILS:

  • 19.25 acres
  • 7,567 sqft, 4BD/7BA
  • 576 sqft attached garage
  • Indoor swimming pool
  • Billiards room
  • Executive office
  • Walk-in pantry
  • CC Builders constructed all structures
  • The highest quality, custom finishes
  • Chestnut floors and doors
  • Antler railings
  • Sconce lighting was commissioned and completed by Peter Fillerup
  • In-floor heating throughout and air conditioning
  • Iron wood decks and teak furniture
  • No CC&R’s
  • Sold completely furnished

PRICE: $14,500,000

CONTACT CHRISTY AND GARTH >> for more information!

Insights from the Jackson Hole Real Estate 2019 Year-End Market Report

We are pleased to present the year-end market report for the Jackson Hole area. Derived from our proprietary, forty-year old database (not just MLS data) and our team’s decades of combined experience, Jackson Hole Real Estate Associates’ Market Report is the most trusted and accurate real estate report in the region.

After the banner year of 2018, the overall housing statistics for the Jackson Hole market show a modest cooling off. Using our proprietary data base accounting for sales that were not reported through the Teton County MLS. The total dollar volume dipped 10% and the number of transactions declined by 4%. The average sales price declined 6% to $1,850,190 but the median price increased by 8% to $1,075,000.

The story about inventory: Overall, in Teton County the inventory remains fairly level 2019 vs 2018. Single family home inventory is up 19%, pending listings are up 4%. Days on market is down 7% showing continued growth. The condo/townhome inventory is down 12%. This category is also seeing a shorter time on market, as the demand in this category rises. Pending sales for condos is up a whopping 75%.

Once again Jackson Hole Real Estate Associates is proud to report that while overall sales volume in Teton County dropped 10%, our sales volume grew 12%. This increase indicates JHREA’s growing market share as our team proudly represented the most buyers and sellers of any brokerage in the region in 2019.

We are heading into 2020 with a 40% increase in pending listings indicating a strong start to the year.

To learn more about the Jackson Hole market or for more information specific to your area, please don’t hesitate to contact us.

2019 Year In Review

 

We are excited to share our 2019 with you. From winning Jackson Hole Real Estate Associates 2019 Top Producer Award to continuing to champion our community, 2019 was our most remarkable year yet. Please enjoy our year in review video. A huge thank you to everyone that supported us in 2019. We wouldn’t be here without the support of our clients, friends and family. We can’t wait to see what’s in store for 2020! Please reach out if you have any questions about Jackson Hole real estate.

To learn more about our team, the Teton lifestyle, and the Jackson Hole market, please don’t hesitate to contact us.

Experience Jackson Hole | Winter/Spring Catalog of Fine Properties

We are pleased to present Experience Jackson Hole: The Catalog of Fine Properties and Lifestyle for Winter/Spring 2019/2020. 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. Please reach out with any questions regarding the ideal Teton lifestyle.

Insights from the Jackson Hole Real Estate Quarter 3 Market Report

We are pleased to present the quarter 3 market report for the Jackson Hole area. Derived from our proprietary, forty-year old database (not just MLS data) and our team’s decades of combined experience, Jackson Hole Real Estate Associates’ Market Report is the most trusted and accurate real estate report in the region.

The Jackson Hole real estate market continues to show stability particularly in the single family home segment. At the end of the third quarter of 2019, despite a 20% drop in number of homes sold the average sale price rose 13% year over year. During the same period in 2018, the average sale price gained 7% over prior year indicating a sustained period of steady, consistent growth. The median price also grew by 17% indicating that the higher-end sector was more active. Once again, the market at the mid to low end of the price spectrum was negatively impacted by the lack of inventory. This lack of inventory also impacted the $2-5M range.

Nationally, prices grew at a relatively flat 4%.

Overall in Teton County Q3 2019 posted a 9% increase in inventory hopefully offering much needed relief for buyers who have been struggling to find thier perfect home. Inventory in Single Family Homes is up 37% however,  pending listings are up 10%, and days-on-market is down 22% indicating good activity in the Single-family Homes sector.

The overall year-over-year housing statistics for the greater Jackson Hole market continued to show a modest cooling off vs. the banner year of 2018. Using our proprietary database accounting for sales that were not reported through the Teton County MLS, the total dollar volume dipped 10% over prior year through the end of Q3. This is an improvement over mid-year numbers where total sales volume dipped 16%.

Once again Jackson Hole Real Estate Associates is proud to report that while overall sales volume in Teton County dropped, Jackson Hole Real Estate Associates’ sales volume grew 8% YTD through Q3. This increase indicates Jackson Hole Real Estate Associates’ growing market share as our team proudly represented the most buyers and sellers of any brokerage in the region.

To learn more about the Jackson Hole market or for more information specific to your area, please don’t hesitate to contact us.

Incredible Buys: Recently Reduced Jackson Hole Properties

Are you on the hunt for that perfect Jackson Hole property that’s also priced right. Here, we are listing a few incredible buys you don’t want to miss. From a charming home in Wilson, Wyoming to a home overlooking the Snake River, these recently reduced properties could be your next home.

 

HANDCRAFTED LOG HOME IN THE ASPENS

This handcrafted log home hits all “the buy buttons” when it comes to charm and location. On a private lot with mature landscaping and whispering pine trees, this home is host to plenty of songbirds and an occasional moose passing through. Vaulted ceilings, skylights, heated floors, a wood burning stove and plenty of south facing windows for abundant sunshine are just a few of this home’s features that create an inviting and relaxing setting.

The icing on the cake – the property includes a 780 square foot caretaker’s cabin and is located in one of the few neighborhoods that is zoned for short-term rentals – a prized find in the Jackson Hole real estate market.

Recently reduced to $1,945,000

View More >>

 

snake river property

SNAKE RIVER RETREAT

Perched on a meadow overlooking the Snake River you can’t help but embrace nature as you watch osprey soar above you and otters play in the river below. This 3 bedroom/ 3 bath well cared for log home has everything you need to live the mountain lifestyle to its fullest. The 4 acre property boasts beautiful gardens, a chicken coop, 4 stall stable, a guest house and 6 large garage stalls. The entire property backs up to the Snake River and National Forest for tranquil views and privacy. A terraced patio with an outdoor fireplace makes for fabulous star gazing and stairs leading to the to the Snake River are perfect for a dip on a hot day. This is nature’s playground- only 22 minutes from Jackson’s town square.

Recently reduced to $1,997,500

View More >>

 

skyline ranch home jackson wyoming

PRIVATE SKYLINE RANCH HOME

Private and secluded home in Skyline Ranch on .71 acres perfect for a family or as a mountain retreat. Centrally located between town of Jackson and Wilson, Wyoming, and a less than 10 minute drive to Teton Village. Also, located in the Wilson school district. 3 bedroom/3 1/2 bathroom home has been well-maintained with attention to detail. Vaulted ceilings and Grand Teton view are a highlight of the living room. Recently updated kitchen features granite counter tops, custom cabinets and stainless steel appliances.

Additional features include updated bathrooms, wood floors, vaulted ceilings, 2 car garage, detached artist studio, and opportunities for wildlife sightings abound. The mature landscaping and gardens only add to the appeal of this Skyline Ranch home.

Recently reduced to $1,560,000

View More >>

 

Contact Christy and Garth for more information on the properties and let them be your Jackson Hole real estate guides. See what they can do for you.

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