A little bit of a mixed bag for real estate results in February 2012 for Jackson, Wyoming. The bad news is that our sold transaction total fell from 18 transactions in January to 17 closed transactions in Feb. The average price also fell to $857,976 and the median sale price of $476,000. The highest sale for the month was a home on the West Bank in Lake Creek Acres . It sold for $2,300,000.
On a positive outlook we had 3 land sales in Feb. and we just had 3 additional lots go under contract in the past few weeks. Land prices have fallen, construction costs are lower and finding professional works is much easier at this point. My other theory is that the consumer is going to demand a newer homes in a few years and there simply will not be any due to the lack of construction and spec building during the past 4-5 years. The opportunity is there for owners to start construction on a new home with the idea of living in it or selling it after or during construction.
Finally – the pending outlook is strong. There are 54 pending transactions at the moment. 44 of those are priced below $1 million.
For additional information on the Jackson Hole Real Estate market please contact the Jackson Hole Experts – Jackson Hole Sotheby’s International Realty – Christy and Garth Gillespie. – 307-413-5243 or firstname.lastname@example.org