Tag Archive for: Jackson Hole real estate market

Jackson Hole Housing on the Rebound?

Day 2 of our informative real estate slides that are painting a pretty picture of the real estate market.  In todays snapshot we see Morgan Chase CEO, Jamie Dimon talking to his readers and listeners that he sees nothing but upward momentum in today’s real estate market.

It is interesting to see him predicting downward pressure on prices (due to foreclosures and short sales) but also signaling and bullish outlook on buying or investing in real estate.

Investors have been interested in the current real estate market due to the lower pricing.  But what we are starting to see is rent increases.  This will only add fuel to the fire so Christy and I believe lower end rental condos and townhomes along with multiunit properties are going to be the “hottest” market this summer.  The only thing we see that would block this momentum would be if a inventory becomes are to find….guess what happens then?  We may see some price increases by year end!

For more information on the Jackson Hole Homes for Sale contact The Gillespie Real Estate Team – Christy and Garth Gillespie at 307-413-5243 or email us at garth.gillespie@jhsir.com.

Current Real Estate Market Update – National

We have been updating this graph for a few months and it has not changed much since the last one.  It does tell a go story as the market continues to build some strength.  12,575 houses, condos, townhomes sell EVERY day!  The chart also explains that almost 75% of all purchases are taking place with a bank involved.  Banks are lending!

Here in Jackson we seem to be seeing quite a bit more “showing” activity.  Under contracts have increased yet overall closing activity continues to lag (see next post).

To get a current update on the Jackson Hole Real Estate market please contact the Jackson Hole Experts, Garth and Christy Gillespie at garth.gillespie@jhsir.com or call us at 307-413-5243.

Best Real Estate Agents in Jackson Hole

Cover of the Best Of...JH Weekly








Christy and Garth would like to thank all our friends, family and “fans” for voting us the “Silver” award for “Best Real Estate Agents” in Jackson.  We apprciate the support and are honored by your votes.  Thank you!

There were many great winners for the “Best of…”  We would also thank the JH Weekly for their hardword in putting together this contest.  The “Weekly” provides excellent reading entertainment every week and in 2011 started Jackson’s very own “Groupon” with the “Half Off Jackson Hole” program.

Thanks again to all our voters and to learn more about our ever changing real estate market in Jackson Hole please contact the Jackson Hole Experts — Christy and Garth Gillespie at Jackson Hole Sotheby’s International Realty garth.gillespie@jhsir.com or by calling us at 307-413-5243.  We are busy getting ready for the summer season after a successful first few months.  We are gladdly accepting new listings and if you call us soon we will be able to secure a spot in the coverted “Summer Catalogue”.

February Real Estate Results for Jackson Hole, Wyoming


 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 garth.gillespie@jhsir.com

There Are Thousands of Houses Selling Everyday!

“How’s the Real Estate Market?”  It’s a question that Christy and I get everyday.  For the past few years it has been a difficult answer in a difficult real estate market.  Things are changing and they have been for probably the last 6 months – sales are increasing.  Based on the latest data from the National Association of Realtors (Jan 2012) there are over 12,500 houses selling everyday.  The other question Christy and i get is whether banks are lending?  Well we include this data in the slide too.  Almost 9,000 of the 12,500 homes being purchased are being done with a loan!

The Jackson market is definitely on a smaller scale but we have been averaging about 1 home sale a day.  Activity in January and the start of February has been strnger than the last few years especially in the lower quarter of the market.

The Jackson Hole Real Estate Experts hope that this has been good information for your research.  If you want to know more about the types of properties that are selling here in Jackson Hole or if you have any questions about the general Jackson real rstate market feel free to contact us at garth.gillespie@jhsir.com or call us at 307-413-5243.

Quick Glance at Jackson Hole Real Estate Sales in January 2012

Eagle Ranch - Beautiful Views

Published closed sales transactions fell in January 2012 in Jackson Hole.  Only 18 home and land sales took place in the month with a sales volume estimate of about $25 million.  Last year, January 2011 we saw 22 sales and probably the same volume.  We used an estimate because there were 4 non-disclosed sales published in the month.  What’s interesting in this data is that of the 18 sales 6 of them were vacant land.  The median sales price was $850,000.  The average days on market for the 18 sales was 414 days! 

The sales varied through out the valley with transactions taking place in the Town of Jackson, South of town in Dairy Ranches, Polo Ranches and 3 Creeks, a couple on the Westbank.  The highest sale was undisclosed and was a 35 acre lot in Crecent H Ranch which was listed at $5,950,000.

For additional information on the Jackson Hole Real Estate market please feel free to contact the Jackson Hole Experts — Christy and Garth Gillespie – at 307-413-5243 or email us at garth.gillespie@jhsir.com.

Average Home Prices Continue to Drop In Jackson Hole in 2011

Today we will continue to update the 2011 Jackson Hole Real Estate Market with Average Sales Prices.  The Chart below does a comparision on Average Sales Price vs. the Prior Year Average Sales Price.  As you can see, the average prices for property sales in Jackson Hole, Wyoming have been lower in 2011 in 10 (to be clear the “Red bars” are for 2011 and “Blue bars” are for 2010) of the last 11 months.  The exception was December 2011 when we saw a few very large transactions take place.  We have seen a lot of sales (to be outlined in a future blog post) in the “below $850,000 range” which have had an influence on Average Sales Price.

Average Prices Graph

2011 Jackson Hole Real Estate Results Provided by Christy and Garth Gillespie and Jackson Hole Sotheby’s

Here is some excellent information about the Jackson Hole Real Estate Market.  Please notice the trend – our market is improving.  The month of December 2011 was the second strongest dollar volume month we have seen in a year.  As the chart points out December unit volumes rose 60% and sales volume rose 72% when compared to last years numbers.  The overall trend on unit sales and sales volume is on an upward slope.  Unit volumes have improved 8 of the last 9 quarters!  Thats impressive.

To get more information about the Jackson Hole Real Estate market check back here frequently or email us at garth.gillespie@jhsir.com.  Christy and Garth Gillespie are some of Jackson’s strongest real estate agents call us to find out why and how we do it – (307)-413-5243.


Where are Jackson Hole home prices going in 2012?

We are going to start a series of blog posts that hopefully create a pattern that we can look back on and see if we were right.  Christy and I believe that there could not be a better time to buy real estate in Jackson Hole.  There are excellent values in all price ranges and we believe the amount of inventory allows buyers some good choices.  With that said we do believe a lot of the great properties that have been offered at reduced prices are starting to get purchased and that inventory is going down.  I saw this video yesterday which is from Barbara Corcoran – a real estate “expert” – that outlines some of the reasoning behind buying now and or selling right now.  Take a look.

Stay tuned as we will be posting quite a bit of information that we feel will be important moving forward into the 2012 real estate sales year here in Jackson Hole.  For additional information on real estate or anything else Jackson Hole please feel free to call us at 307-413-5243 or email us at garth.gillespie@jhsir.com.

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