Jackson Hole Real Estate November 2011 Market Update
Novemeber 2011 has come and gone here in the Jackson Hole Real Estate Market and we witnessed a pretty strong month when looking at the year as a whole. There were 31 transactions last month — No quite the 13780 properties that sell every day in the United States but Jackson does contribute! “How’s the Jackson Hole Real Estate Market?” — Well, “We sell a property every day!”
In a couple of weeks we will be able to show you a graph of how we measure up when comparing Nov. 2010 to Nov. 2011 but in a nutshell, last year we had about $10 million more in sales volume but transactions were 16% lower. November 2011 saw a median sales price of about $550,000. This is quite low indicating a stronger low end market. This is encouraging in my eyes as we are really starting to see the lower end market strengthen. This of course is being generated by a few short sales, bank sales and realistic sellers. 1/3 of the market in Novemeber sold for under $400,000.
The higher end market saw some good signs too as we saw 2 transactions of about $7 million. The Jackson market had 9 sales over $1 million.
Other stats: 3 vacant land transactions, 5 condo transactions in Teton Village, 10 sales in the Town of Jackson.
Please call with any questions or if you need any additional information on the Jackson Hole Real Estate Market — Garth Gillespie, sales associate and partner of the Gillespie Real Estate Team – Jackson Hole Sotheby’s, 307-413-5243 or email at garth.gillespie@jhsir.com.
