Real Estate Sales in February 2011 – Most Activity in Teton Village and Wilson

February 2011 was a very active month in real estate sales in Jackson Hole, Wyoming. Overall, this month we saw 16 real estate sales in the Jackson Hole area, with most sales concentrated in Teton Village and Wilson, WY. Total real estate sales volume for the month topped $27 million, with an average sale price of just over $2 million. On average properties were selling at 85% of thier latest listing price and, on average, were on the market for 245 days prior to selling.

It appears the record snowfall at Jackson Hole Mountain Resort, encouraged many buyers to purchase condos, condohotels and homes in Teton Village this winter. Of the 16 total real estate sales in the area, 1/2 of them were near the ski resort. These sales covered a wide range of properties and price points  – a 2 week fractional sold at the Teton Club, a 1 bedroom condohotel at Snake River Lodge and Spa and a 3 bedroom condohotel at Teton Mountain Lodge sold this February. There were also 2 sales of condominiums in the Nez Perce condo and the Teewinot building. These condos are a short walk or shuttle ride from the Aerial Tram at Jackson Hole Mountain Resort.   A 2 bedroom unit at the Four Seasonsand a 3 bedroom unit at Crystal Springs also sold, both with ski-in, ski-out access. A large home in Lake Creek Ranch and the end of Granite Creek Road across from Teton Village sold in early February.

 Four Seasons Resort Jackson Hole > Exterior of hotel.                            

Wilson also saw several sales this past month including a home in Stilson Ranch, a home in Crescent H Ranch and large home with a horse stable in Wilson. There were twp sales in Town – a 2 bedroom Ponderosa condo that was listed at $99,900 and a Love Ridge Condo at the base of Snow King Resort. The largest sale of the month was a 10,000 square foot, 5 bedroom home in Spring Creek Ranch that was listed at $9,500,000.

The Gillespie Real Estate Team of Jackson Hole Sotheby’s International Realty is always tracking the real estate market in Jackson Hole. We’d be happy to share our market knowledge, insight and experience – just give us a call at 307-739-8078.

Jackson Hole Mountain Resort tops 300″ of snow

While it may feel like winter has just begun, Jackson Hole Mountain Resort has already received over 24 feet of snow this season. Teton Village has received more snowfall than any other ski resort in North America.

With a record amount of early season snow fall, Jackson Hole Mountain Resort was able to open 100% of the mountain, including the Aerial Tram, on opening day in late November. Since opening day, we have continued to receive consistent snow which has contributed to a strong and stable snow pack.

Word has gotten out, as Teton Village has seen high occupancy levels at all the base area hotels – including the Four Seasons, Teton Mountain Lodge, Hotel Terra and the Teton Club. Jackson Hole Real Estate activity has also increased at the base of the mountain. There are currently 19 properties under contract in Teton Village. These pending sales include ski-in, ski-out condominiums, condo hotel investments, fractional time shares and large single family homes located underneath the Aerial Tram at Jackson Hole. We are well on track to out pace last winter’s 32 closed sales in Teton Village.

If you would like to learn more about current real estate opportunities in Teton Village contact the Gillespie Real Estate Team – the Jackson Hole Experts by visiting or calling 307-413-5243.

Teton Village, Wyoming Real Estate Market Update December 2010

The winter season is upon us and we wanted to give you an update on the Teton Village real estate market. We are hearing the questions…Is the market getting stronger? What are you seeing with the market? Is it going to be a strong winter season for sales? Christy and I have been in the real estate business for 15 years so we know how hard it is to predict the future but we will tell you that we have a sense that the market is strengthening. When we say strengthening we mean that there is an indication that interest has increased and some sales have taken place but we don not necessarily mean that prices have bottomed out let alone start to increase.

There are currently 100 active listings in the Teton Board of Realtors Multiple Listing Service. This does not include fractional ownership opportunities like the Teton Club or The Four Seasons. The active listings range from a 1 bedroom, 1 bathroom condo priced at $259,000 all the way up to a fabulous ski home retreat priced at $29,500,000. A third of the inventory is priced under $1 million, a third between $1 and $2 million and a third $2 million and over.

In the past year – data since January 1, 2010 – there have been 31 disclosed sales with an average sales price of $1.675 million. The closed data almost mirrors the active market in the sense of percentages. Some interesting sales – A Tram Tower Townhome located below the Tram was listed at $1.9 in 2007 and just closed for $915,000! A Granite Ridge Timbers unit listed for $2.7 in 2009 just sold for $1.9 and another Timbers unit listed for $3,750,000 in 2008 just closed for $1.9 million. On the lower end a condo in the Gros Ventre complex just sold (as a bank sale) for $239,000. This condo was 2 bedrooms, 1 bathroom and 800 square feet in size. A like unit sold in 2006 for $435,000. Not all the transactions are this extreme but this illustrates how value was created for a buyer in a difficult market.

As we reported in the last entry – Jackson Hole Mountain Resort is in the best shape it has almost ever been in this early in the season. The lower part of the mountain – including the Hobacks – are skiing as well as they do in February. Bookings at the Four Seasons resort are looking strong for the season so 2001 is looking to start off on the right foot.

If you would like additional information about the real estate market in Jackson Hole — pick up the phone and give us a call – 877-739-8056. We are excited to answer any questions you may have. You are also welcome to visit us at

Jackson Hole Mountain Resort Opens All Lifts!

For the first time in resort history, Jackson Hole opened “wall to wall” this weekend.  Christy, Katie and I all hit the slopes on Saturday and did our duty in cutting all the fresh, virgin powder.  It was exciting to say the least to be skiing in November let alone skiing the Hobacks.  The early snowfall has covered the mountain extremely well and we believe there is already more snow on the lower part of the mountain than we ever had last year.

We also spoke with the director of the Four Season Resort who mentioned that booking at the luxury hotel are extremely strong for the winter months.  This should bode well for the real estate market.  Buyers will be ready to swoop in and buy some of the excellent values on the market.  It has been a few years since we saw a strong push of buyers but we are anticipating a great selling season this winter.  If you would like information of the real estate market in Jackson please feel free to contact us. Jackson Hole Sotheby’s International Realty has just finished our biannual Catalogue of Fine Properties so if you would like an copy we’d be thrilled to send you a link.

For more information on the wonderful skiing here in Jackson or for in depth real estate information please contact Garth and Christy Gillespie, associates for Jackson Hole Sotheby’s International Realty at 307-413-5243 visit our website – Jackson Hole Experts.

Sotheby’s International Realty Acquires Teton Village Realty in Jackson Hole, Wyo.

Wow! Exciting News in Jackson Hole real estate. Here is the “hot” real estate news just released by Sotheby’s International Realty – Jackson Hole Brokerage. Christy and I will update the blog with our thoughts later but we wanted everyone to get the news. Very exciting, excellent news for sellers and amazing coverage of the Teton Village real estate market moving forward.

Market Leader Acquires Fastest Growing Local Firm to Expand Presence in Teton County

Jackson Hole, Wyo. (May 13, 2009) – Sotheby’s International Realty, Inc., a residential real estate brokerage firm representing fine properties in some of the world’s most sought-after markets, today announced it has acquired the assets of Teton Village Realty in Jackson Hole, Wyo. Teton Village Realty, specializing in properties at the Jackson Hole Mountain Resort and surrounding areas, will now operate as Sotheby’s International Realty, Inc. The Teton Village Realty offices, located in the Teton Mountain Lodge and Hotel Terra at the Jackson Hole Mountain Resort, will complement Sotheby’s International Realty’s existing offices in Jackson Hole and Driggs, Idaho.

Clayton Andrews, executive vice president and COO of the Mountain Region for Sotheby’s International Realty, Inc. who leads the company’s Jackson Hole operations, will also manage the new offices.

The acquisition expands Sotheby’s International Realty’s footprint in Jackson Hole and shows the firm’s commitment to serving clients throughout Teton County. Since first opening in Jackson Hole in 1999, Sotheby’s International Realty acquired Jackson Hole Realty in 2003. Since then, Sotheby’s International Realty has been the market leader in sales volume, according to the Teton Board of Realtors MLS.

After its founding in 2003, Teton Village Realty became the fastest growing brokerage in Teton County, achieving the third highest market share in the Teton MLS each year from 2005 to 2008. Teton Village Realty sales associates, including owner Rob DesLauriers, will now operate as agents of Sotheby’s International Realty, Inc.

According to Andrews, Teton Village Realty is an ideal fit with Sotheby’s International Realty, based on its historical performance as well as its office locations. “As a relatively young and fast growing firm, Teton Village Realty offers a fresh perspective on the local real estate market,” said Andrews. “Rob DesLauriers is well known and respected at the Jackson Hole Mountain Resort, and his firm’s experience in development sales at Teton Village is unmatched. We are pleased to be gaining such a dynamic and talented team at a pivotal time in our market.”

“It’s exciting to be part of the Sotheby’s International Realty organization,” said DesLauriers. “We appreciate the company’s successful history and expertise in the valley. We have a long and productive working relationship with the firm’s local team, and our agents and clients will benefit from the enhanced regional and global presence as well as the referral opportunities the company offers.” DesLauriers continued, “Sotheby’s International Realty provides a strong and far-reaching platform from which we can continue to grow and leverage the synergies of our firms.”

About Sotheby’s International Realty

Sotheby’s International Realty was founded in 1976 as a real estate service for discerning clients of Sotheby’s auction house and represents fine properties at a range of price points. Today, Sotheby’s International Realty, Inc. operates brokerage offices in key metropolitan and resort markets, including London; Manhattan; the Hamptons; Westchester County, Greenwich, Conn.; Litchfield County, Conn.; Cape Cod; Palm Beach, Fla.; Beverly Hills; Brentwood; Pasadena; Santa Barbara; San Francisco; Sonoma; Monterey Peninsula; Sun Valley, Idaho; Santa Fe, New Mexico and Jackson Hole, Wyo.

Sotheby’s International Realty, Inc. ( is part of NRT LLC, the nation’s largest residential real estate brokerage company, and a member of the Sotheby’s International Realty® network that spans 39 countries. NRT, a subsidiary of Realogy Corporation, operates Realogy’s company-owned real estate brokerage offices.

Jackson Hole Real Estate Hotsheet Highlights Jan. 1 – Jan. 11, 2009

What is the Jackson Hole Real Estate Hot Sheet? One of a Realtor’s most important tools is the local Teton County Multiple Listing Service, a dynamic database of currently available properties and much, much more, including sales histories, Competitive Market Analysis programs and information only available to members. The MLS also provides a daily “Hot Sheet” brimming with the latest price changes, new listings, pending and closed sales, as well as expired, withdrawn and back on the market properties.

New listings:
There were 28 new listings for residential property in Teton County, WY, between New Year’s Day and January 10. The least expensive is a 1-bed, 1-bath, 760 sq. ft. condo in the Aspens listed at $419K and the most expensive is “Bighorn Lodge,” an 8,000 sq. ft. new home on 5.23 acres in Solitude priced at $12,750,000. Ten properties were listed below $1M, another 10 were priced between $1M and $2M, and 6 between $2M and $3.5M.
Coincidentally, the same 10 days in 2008 also saw 28 new listings for residential property in the same area. Thanks to the “custom” Hot Sheet, we can see also see how these newly listed properties fared over the course of the year.
· Twelve of the 28 properties eventually sold, with the least expensive being a Ponderosa Village condo (2-bed, 1-bath, 716 sq. ft.) for $379K and the most expensive being a $3.95M home in Willowbrook.

· Three are still active, 11 listings expired and one was withdrawn.

Closed and pended listings:

Perhaps more indicative of any overall trends may be a look at closed and pended transactions for the same time frame.
· This year has seen 2 closings on homes in Teton County, with one of them being a fractional (1/6th) unit in Teton Pines and other a home on Munger Mountain for $900K. No property has gone under contract so far in 2009.

· In 2008, there were six closings year to date at this point, with 8 properties going under contract.

· Teton Village:

With the Jackson Hole Mountain Resort now 100 percent open (when avalanche conditions permit!) and winter in full swing, many of the buyers in town are focusing their attention on Teton Village property.
What’s the latest in the land of the big new shiny red tram?
· The first thing that jumps out is that of the 130 active listings in Teton Village, 42 are fractional ownerships at Teton Club with the least expensive being 2 weeks (one fall, one spring) in a 2-bed unit and the most expensive being 4 prime weeks including New Year’s in a 3-bed unit for $350,000.

· The least expensive full ownership condo in TV is a 464 sq. ft. studio built in 1972 listed at $389K. The lowest priced unit with 2 baths is $685K.

Thanks for visiting the Jackson Hole Real Estate and Community News Blog sponsored by Christy and Garth Gillespie from Sotheby’s International Realty of Jackson Hole. For more information on the “Hot Sheet” please feel free to contact me – Brian Siegfried, sale associate and Gillespie Real Estate Team member at

Jackson Hole Real Estate Hotsheet Highlights

The Web is crawling with ways to search for real estate listings. In this region, the best way to get started is at Jackson Hole Experts But for when you want to know what Realtors know … you need the Hotsheet!

New listing highlights: New Jackson Hole listings have been few in the past month or so, predictable for this time of year, but Teton Village and in-town condos have been hitting the hotsheet in greater numbers in the past few days.

The second new Four Seasons in Jackson Hole listing of the week (there are now 13 FS properties available) hit Dec. 17. This 3-bath, 5-bed unit on the sixth floor is priced at $5,250,000, making it the second most expensive Four Seasons unit after the 5,016 sq. ft., 5-bed, 6-bath, unit on the ninth floor listed at $6,950,000. I toured the latter last Thursday and was, well, impressed of course. The layout, cathedral ceilings and abundance of glass belied the fact it was a condo, providing more of a single-family home feel, perhaps mainly because this is one of the few units with both west (Mountain Resort) and east (Sleeping Indian and valley) views.

Price change highlights: There were 25 price changes during the Dec. 16-18 3-day period, with the most interesting being a $43,000 Brookside Condominium price reduction from $358K to $315K. According to an e-mail sent to all realtors from this agent, the list price is $78,000 less than the sale of a similar unit in March 2008. He points out that if it sells at that price with 20% down, and financing comes in at 4.625%, the monthly payment is about $1,295 per month. It rents for $1,200 per month.

Also notable were 2 price reductions in the High Teton Condominiums on Hansen Street, with both 2-bed, 1-bath units dropping $16K and $25K respectively with prices now just below $500K. A very nice 1-bed unit in this building dropped to $318K earlier this week.

Closed and pended listings: A 3-bed, 3-bath, 2,210 sq ft home in Indian Trails listed at $805,000 sold this week after 61 days on the market and a price reduction of $90K. That leaves 6 homes on the market in this west Jackson neighborhood, with list prices between $1.1M and $2.195M.

For details about any property mentioned in this blog post or a FREE PERSONALIZED Jackson Hole real estate market analysis, please call Brian Siegfried at 307-690-9346 or e-mail him at

An Exciting Winter for Teton Village – Jackson Hole, Wyoming

It isn’t every day that workers at Jackson Hole Mountain Resort get applause for their work. But then, a new Aerial Tram at isn’t exactly an everyday occurrence.

In late October, spectators gathered at the resort and clapped as crews placed the first of two bright-red Tram cars from Switzerland onto their track cables. Seeing the cars put into place was like watching the curtain lift at the theater, although in this case the performance is to start December 20, when the Aerial Tram will begin carrying skiers and snowboarders up Rendezvous Mountain. For the legions of people who are passionate about this particular ski hill, it will be as though Christmas arrived five days early.

Anyone who has skied at Jackson Hole Mountain Resort any time from the 1960s to more recent years will find the sight of the little red boxes moving along their cable to be a familiar sight. The Tram cars are red, like their iconic predecessor, which shuttled skiers up the mountain for 40 years before being retired. But the new tram will be bigger and faster, whisking 100 passengers at a time to their starting point for their adventures in about nine minutes.

Change is afoot at Teton Village as a whole. The Village has kept hold of its classic attractions, like the Mangy Moose Saloon, while adding new ones like Hotel Terra, a boutique property that’s sleek, upscale and eco-friendly. Some changes at the Village are subtle, like the acoustical upgrades at Walk Festival Hall, home to the Grand Teton Music Festival. Other changes are more dramatic, a case in point being the new Shooting Star™ golf course.

Teton Village has become famous for its resort offerings. But it has become viewed more and more in recent years a great place to live, whether year round or on a part-time basis. The new hotels, for example, offer condo ownership opportunities in addition to options for out-of-towners to stay in style and comfort when they come to Jackson Hole. With the opening of the Four Seasons Resort, Teton Village acquired a “grande dame” hotel as well as a new group of slopeside luxury residences. In addition to Hotel Terra, there’s also Teton Mountain Lodge and others are coming, including the second phase of Hotel Terra.

Another new arrival in Teton Village is the newly completed Timbers, a group of three- and four-bedroom homes in Granite Ridge. Designed by John Carney, they average 3,300 square feet, with vaulted ceilings, gourmet kitchens, stone fireplaces and private Jacuzzi decks. Elsewhere in the village, the condos along McCollister Drive and Rachel Way, though not exactly new, are newly interesting to the real estate market. With upgrades and improvements the units, which like the Timbers, are zoned for short-term rentals, creating an attractive opportunity for investors who would like to generate some revenue from their properties.

As for Shooting Star™, it’s easy at this time of year for Nordic skiers to look out at the snow covered rolling terrain of the Tom Fazio-designed golf course and fantasize about streaking along a freshly groomed track. The golf course will, in fact, be a Nordic ski center, but its big unveiling will be next summer, when the golfers who have been watching the new facility take shape can finally walk out onto those greens and play a few rounds.

Construction is well underway on the Shooting Star™ club house, which will feature spa and fitness facilities, as well as a restaurant. The residential portion of Shooting Star™ includes cabins by architect Paul Bertelli of JLF Associates, featuring reclaimed materials and old world craftsmanship, plus spectacular views of the Tetons and the golf course.

Not everything planned for Teton Village is on such a grand scale, but little things make a difference. The pond behind Crystal Springs Lodge will eventually be replaced by a group of smaller water features and landscaping better suited for functions or for just relaxing. An 812-space, paved parking lot was just approved by the Teton County Board of Commissioners to be built between Granite Loop Road and Highway 390. It’s possible that someday there will be an automated “lift” that will whisk skiers and snowboarders from the lot to the clock tower so they can begin their day on the slopes. There’s no doubt that the opening of the new Arial Tram at Jackson Hole Mountain Resort is the biggest story for winter 2008-09 at Teton Village. But as is always the case with news, some of the other stories are pretty interesting, too. For first timers and veterans, Teton Village is worth exploring this winter.

For more information on Teton Village or Jackson Hole please feel free to email or call the Jackson Hole Experts – Christy and Garth Gillespie.

Jackson Hole Mountain Resort Set to Open the New Tram

It is almost time for the grand opening of the new Jackson Hole Ski Resort tram scheduled for the weekend of December 19, 2008. The celebration will take place all weekend long but the opening ceremony will be at the base of the tram from 5:30 – 6:30 with fireworks and treats for all ages. The tram will own the honor of the longest vertical rise of any ski lift in the USA –Jackson Hole will once again be put on the map as one of the most extreme ski destinations in the United States. Now is a great time to buy in Teton Village with prices at a all new low you can own a fully furnished Teton Mountain Lodge ski –in / ski-out studio apartment with full amenities at Teton Mountain Lodge for as little as $475,000 or own 2,200 square foot 3 bedroom/ 3 bath luxurious condo in the heart of Teton Village at the Crystal Springs Building. Whatever your budget may be we can help you find what you are looking for – call or email the Jackson Hole Experts today.

The Bar BC Ranch


One of the most exclusive properties in Jackson Hole and for that part the Rocky Mountain region is the Bar BC Ranch. I wanted to take a few moments to update the recent activity on the Bar BC Ranch and at the same time just give some general information on the ranch itself.
The Bar BC Ranch is one of the premier ranches in the Rocky Mountain West. With a rich history, spectacular scenery and quiet ambiance, the ranch is one of the most unique real estate offerings in the Jackson Hole Valley. Located in the “Spring Creek Valley” and atop the “Gros Ventre North Butte” the ranch and its’ real estate offerings are arguably in the best location in the valley. Each property has access to the Snake River and has remarkable Teton views. With a limited number of 35 to 50 acre home sites carefully placed on 1,400 acres, Bar BC Ranch is an understated retreat that respects the environment and maintains the natural habitat for elk, moose, deer, and native cutthroat trout.
Investors, Home Builders and Land Buyers that are looking for an exclusive location in Jackson Hole have found that Bar BC Ranch is a special place. Bordered by the Snake River (west) and the Gros Ventre River (north), homesites feature rolling hills, meadowlands, and the outstanding Teton views. The Bar BC Ranch is close to downtown Jackson and Teton Village but is far enough off the beaten path to give homeowners and resident wildlife a sense of seclusion. There is even an 11 acre pond located on the property where trumpeter swans and waterfowl have taken up residency.
During summer of 2007 there were 2 closed sales and there is currently 1 pending transaction. Initially the Ranch offered 19 lots of which 9 are either sold or are pending. The remaining ranch sites currently available are: The 6,000 square foot Ranch Estate House on 70 acres along with ranches 1,5,6,7,9,11,12,13 and 14. The ranch offers a paved road system, underground power and utilities, and a water system. Price range of remaining inventory $5,900,000 – $17,000,000.
For more information please feel free to contact the Gillespie Real Estate Team at Sotheby’s International Realty