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Jackson Hole Real Estate and Community News – on Hiatus…

Hi everyone, sorry for the lack of posts – I am on vacation — Going to see U2 in Amsterdam! Talk to you in a week! If you need real estate assistance please contact my wife – Christy Gillespie at christy.gillespie@sothebyshomes.com or on her cell at 307-413-5243. Have a great week.

Garth

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a daily “Hot Sheet” brimming with the latest price changes, new listings, pending and closed sales, as well as expired, withdrawn and back on the market properties.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· Three are still active, 11 listings expired and one was withdrawn.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 brian.siegfried@sothebysrealty.com.