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Sotheby’s International Realty – Jackson Hole Brokerage Ranks With the Best!

Christy and I wanted to share some exciting news about Sotheby’s International Realty.

Data from The Wall Street Journal Top 100 Agents in the US by 2008 Sales Volume includes 3 agents from our brokerage – Sotheby’s in Jackson Hole. Christy and I are extremely proud of our team members Ken Gangwer, Dave Spackman and Steve Hancock. We are so fortunate to have such strong agents in our company to learn from and to strategize with. When individuals are trying to decide which agency and which agent to hire to list or buy from we feel confident that they will choose the most experience and successful firm in the valley. The Jackson Hole Experts – Christy and Garth Gillespie have the opportunity to network with professionals like Ken, Dave and Steve on a daily basis and we believe it strengthens our position as leaders in our field. It is our goal to someday be on this list and we have come close a few times.

If you are wondering Ken Gangwer had a sales total of $85,176,000 (49), Dave Spackman had a sales total of $69,974,000 (68) and Steve Hancock had a total of $58,558,000 (95). In total, Sotheby’s International Realty had 18 of the top 100 sales agents in the country ranked by sales volume. Congrats to all.

REAL Trends surveyed more than 7,000 real estate brokerages, associations of local, state and national realtors and multiple-listing service operators for the period covering 2008 — and reviewed almost 1,200 applications from industry professionals — to assemble its candidate pool. Contenders also supplied their 1099 income tax forms. REAL Trends then ranked the top producers in four segments: Top Agent/Transaction Sides, Top Agent/Dollar Volume, Top Team/Transaction Sides, Top Team/ Dollar Volume.

Sotheby’s International Realty – Jackson Hole Brokerage – Jackson Hole Real Estate Report – 1st Quarter 2009


The final real estate results are finally in from our master “Statistic Wizard”, Leonard Kleiman. Unfortunately you did not have to be a master mathematician in the 1st quarter of 2009 as we only recorded 18 transactions for a total of $43.2 million in sales volume. Teton County, Wyoming could very well have it bottom which if it is true will be music to our ears. To give you perspective the 2008 1st Quarter was a previous record low in transaction total with 67 transactions! Q1-2009 unit volume was down 73% from ’08 and volume was down 57%.

Another interesting fact we are noting is that since September 2007 every month since we have seen decreased sales volume year over year. This is an astonishing stat that really illustrates how the market was out performing for years and is now correcting and definitely under performing. March ’09 for example was down 60% vs. March ’08.

With so few transactions it is almost impossible find a pattern or trend in a certain location except for the fact that all areas are seeing decreased activity. Teton Village only saw 2 transactions during the ’09 ski season (Jan-March). Wilson or “west of the snake” only saw 3 transactions compared to 11 in ’08. And the Town of Jackson only recorded 8 transactions compared to 33 in ’08.

When looking at active inventory we are starting to see a number higher than ever before. On March 31st there were 687 active listing in the Teton County Multiple Listing Service. Today, May 1st we have 725 active listing with more on the way. Christy and I currently are working on 4 new listings that will hit the market in the next 2 weeks. To know more call us toll free at 877-739-8056! One area of stability has been in the over the $3 million market as there were only 126 listings as of March 31st. This is only 11% over the 2007 numbers.

Activity has increased during the month of April. There are currently 18 pending transactions excluding 35 pre-construction projects that include Terra/Sweetwater Lodge, Pine Glades and Pearl Street. There have been some exciting (depends on what end of the transaction you are on…) price reductions in the past two weeks which should stimulate the market. Without a doubt – if a buyer has the means to make a purchase 2009 will go down as one of the best buyer opportunities Teton County has seen in years. Inventory is close to a high, there are some quality listings available in all locations and prices are falling.

If you are a seller – it is a difficult time – yet if you position your property correctly there are buyers looking around for property and that is more than you could say in November of 2008.

If you would like to see the actual report from Sotheby’s International Realty – Jackson Hole Brokerage please email or call the Jackson Hole Experts – Christy and Garth Gillespie. We are happy to assist any of you understand this challenging market.