Signs are pointing up for a real estate recovery here in beautiful Jackson Hole, Wyoming. March 2012 turned in some strong sales and transaction totals. Overall there were 26 transactions (building sites and properties) in the month. The average sales price was just over $1 million at $1,066,000. The median sales price was $635,000 and the highest sale recorded was a home in Tucker Ranch listed at $7.9 million. 24 of the sales were for homes, condos or townhomes and there were 2 land transactions. The average time on market for these transactions was almost one year at 334 days.
Sales were scattered through out the valley – 8 in the town, 8 located south of town, 4 on the westbank, 4 at Teton Village and 2 located north of town.
Most encouraging is the pending transactions. There are currently 60 properties pending a sale. Again there is more activity on the lower end as the median list price for the pending properties is $400,000 and the highest pending sale is a property with a list price of just over $2 million. There are 11 properties listed over $1 million under contract.
Summer is coming early here in Jackson and Christy and I believe the real estate market is heating up earlier than recently predicted. Prices will continue to hover at their lowest levels but inventory is quickly getting chewed up especially on the lower end.
For more information about the real estate market or if you are interested in where your property would be marketed if if were listed this spring contact Christy and Garth Gillespie at firstname.lastname@example.org or call us at 307-413-5243.
(All information above is from the Multiple Listing Service transactions in Teton County Wyoming.)