Tag Archive for: Jackson Hole Real Estate

2011 Shows Improvement in the Middle Market, Unit Sales Increase

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First quarter results for the Jackson Hole Real Estate Market show encouraging trends. Teton County has experienced a slight increase in sales volume, and over 57% increase in units sold for the first quarter of 2011 vs. Q1 in 2010. This is a positive indicator for potentially continued improvement in the market.

Teton County Multiple Listing Service (MLS) also shows a significant increase (over 85%) of units sold in the under $1 million segment.  In the above $1 million segment, MLS reports a 23% increase in units sold in Q1 2011 over Q1 in 2010. Regarding dollar volume of sales, overall in Teton County, Q1 2011 is 12% above 2010. As such, the overall average sales price is down to $1.176 million in Q1 2011 due to the increase in volume in the middle market (under $1m.

Buyers in Jackson Hole are taking advantage of opportunities in the middle market in addition to the high-end market, which has already shown signs of stabilization in 2011. Please contact The Gillespie Real Estate Team at 307-739-8078 to learn about these great opportunties in Jackson Hole real estate.

Jackson Hole: 2010 Final Stats on Sales Volume in Teton County

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Jackson Hole Sotheby’s International Realty has analyzed all real estate sales in Teton County, Wyoming from the Teton County Multiple Listing Service for the year 2010. The big picture, and good news, is that sales volume is up from 2009, and is parallel with 2003 sales numbers. Sales volume for 2010 totaled $387,800,000 which is an 69% increase over 2009 ($229,200,000) and unit volume of 261 is up 28% from the 203 sales registered in the MLS in 2009.  However, 2010 sales volume was still less than 1/2 of what is was in the peak of 2007, which saw real estate sales top out at $792,000,000 from 581 sales in Teton County.

It should be noted that not all real estate sales are registered in the MLS. In fact approximately 1/3 of all sales are not reported in the MLS. Over the past 10 years, approximately 37% of the units sold and 32% of the sales volume was NOT reported in the Teton County MLS. Therefore, the 2010 MLS volume of $388 million suggests that ACTUAL sales volume was about $510 million.

Teton Village Real Estate: Off to a great start in 2011

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In 2011, we have seen an increase in real estate activity in Teton Village.  In the past 20 days, there have been two closed sales in Teton Village. Both real estate sales were condos located at the base of Jackson Hole Mountain Resort. A 2 bedroom, 2 bath, bank owned, condo sold in mid January. The other sale happened this past weekend – a 3 bedroom, 2 bath penthouse condo in the Nez Perce Condominium Building.

                                  

 Additionally, there are currently 15 properties under contract in Teton Village. Seven of those were put under contract in the new year!  They include a wide range of property types. Four of the sales are condominiums within walking distance to the Jackson Hole ski resort. There is one unit under contract in the Snake River Lodge & Spa and a 2 bedroom unit in the Four Seasons – both ski-in, ski-out properties. There is also a 3 bedroom Timbers at Granite Ridge currently under contract.

While the above properties are spoken for, there are still many real estate opportunities in Teton Village. In fact, there are 85 properties for sale in a wide range of price ranges – a condo hotel for $299,000,  a 2-bedroom condominium for $445,000, a 4 bedroom vacation home for $3 million and a Four Seasons Penthouse Residence for $6 million.

The Gillespie Real Estate Team can easily guide you through these real estate opportunities and help you to find the perfect winter getaway in Jackson Hole. Call us today at 307-739-8078 for a list of all available properties in Teton Village.

Teton County Wyoming December 2010 Real Estate Update

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Working at Jackson Hole Sotheby’s International Realty has so many benefits…To name a few – We have the strongest real estate professionals in the Jackson Hole Valley.  Year after year we post an incredible market share usually averaging over 60% of the buyers in the market.  That is staggering when you compare it to like markets.  Technology is another – www.jhsir.com is one of the best Real Estate websites out in the cyber world.  Sales office locations is another huge benefit – especially for sellers as JH Sotheby’s has working real estate professionals located in the Town of Jackson, Teton Village, the Aspens and all the major resort hotels at the Jackson Hole Mountain Resort – including the Four Seasons, Terra and Teton Mountain Lodge.  Finally but not the last benefit is out “stats man” – Leonard Klieman.  Every month Leonard looks over the data and provides all of us up to date market statistics.  Today I’ll share the latest December 2010 information.

During the end of 2010 we have started to see an increase in activity with properties listed over $2 million.  This continued in December 2010.  In Dec. 2010 we had 6 sales over $1 million with an average sales price of $3.7 million compared to 10 sales over $1 million in 2009 but had an average sales price of $1.9 million.  Overall we had 20 transactions during the month.  Unfortunately that is not a great number and was the lowest number of transaction since July 2010.  Unoffical numbers indicated that Teton County, Wyoming had 241 transactions in 2010 with a volume of $359 million.  That is the second lowest sales volume and transaction datat recorded in the past 8 years – only beating 2009. 

Comparing Year to Date December units and volume – 39% more transaction and 78% more volume when compared to 2009.  Sales volume is 3% below that of 2003 and 52% below the peak of 2007.  The increase in activity in the higher end is evident in the residential average sales price increasing 53% when compared to 2009.

Hopefully that was helpful.  For additional real estate information please feel free to contact Christy and Garth Gillespie – the Jackson Hole Experts.  We pride ourselves with working hard for buyers and sellers and having a secure grip on the market.  Feel free to visit our website – www.jacksonholeexperts.com or feel free to give us a call at 307-413-5243.

Gillespie Real Estate Team’s Top Values in Jackson Hole Real Estate

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The Gillespie Real Estate Team at Sotheby’s International Realty in Jackson Hole Wyoming has just updated the “Top Picks of the Week”. Please follow this link: Top Jackson Hole Real Estate Values to see the top values in the Jackson Hole real estate market. Every week or so the Gillespie Real Estate Team will update the Top Picks to showcase great deals in Jackson Hole including townhomes, condos, houses, golf course property, ranch land, ski-in ski-out properties and other great values we see in our real estate market. We also showcase a Listing of the Week, a Sold Property of the Week and a Price Reduction of the Week.

Don’t miss out on learning about the great values in the Jackson Hole Real Estate Market brought to you by The Gillespie Real Estate Team of Garth & Christy Gillespie, Katie Colbert and Don Alsted.

Brand New Townhomes for Sale in Jackson Hole, WY

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Cottonwood Flats are Jackson Hole’s brand new 2 and 3 bedroom townhomes. Offered by The Gillespie Real Estate Team, all townhomes include…

  • covered front porch
  • attached garage
  • backyard
  • hardwood floors
  • large windows
  • brand new appliances
  • pet friendly
  • limited common walls with other townhomes

 Cottonwood Flats are located in a great part of the town of the Jackson near the Middle School, next to the bus stop, and surrounded by the town bicycle and pathways.

The 2 bedroom townhomes are 1,068 square feet with 2 baths and a 1-car attached garage. The 3 bedroom townhomes are 1.600 square feet with 3 baths and a 2-car attached garage.

We host an open house every Sunday from 3:00 -5:00 pm or give us a call for a showing.

 Find pictures and more information @ http://jhexperts.com/cottonwood-flats-townhomes.asp

 

Construction Update:

Block I of Cottonwood Flats Townhomes is complete and includes eight 2-story townhomes. All units have been issued their Certificates of Occupancy and are ready for move-in.  Of the eight units, two of the townhomes (a 3 bedroom and a 2 bedroom) have been sold to the Housing Authority as Affordable Units**. Unit 2, a market rate unit with 2 bedrooms is now under contract. There are 4 two-bedroom units and 1 three-bedroom unit still available for purchase in Block I. Landscaping of Block I will be completed in early spring.

Construction continues on Block II of Cottonwood Flats Townhomes. Fifteen additional units (a mix of 2 and 3 bedroom units) will be completed this summer.  Many of these homes have direct views of the Grand Teton and views of the Jackson Hole Mountain Ski Resort. Homes are stick built off site by Stratford Homes in Idaho and then brought to the site and connected to the foundations and utilities.

 ** The town of Jackson requires 15% of every new development to be deed restricted affordable, which means they have limits on appreciation (usually tied to Denver CPI) as well as limits on the income of the families that purchase the units.

Current Mortgage Rates – Bank of Jackson Hole

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In changing times it’s important to have people we can call on for advice we can trust! At The Jackson Hole Experts, one of those people is T.R. Pierce. T.R. is a mortgage broker with The Bank of Jackson Hole. He has worked with many of our clients here in Jackson and regularly provides our team of REALTORS with the latest in mortgage news. We received information below from T.R. today and with his permission we are sharing it with you.  If you have a question about your current or future Jackson Hole mortgage needs, T.R. is a great guy to call on! You can call him at 307.734.8111.  Here is T.R.’s most current update.

Interest rates are unchanged today as Goldman Sachs reported fourth quarter profits that soared above Wall Street expectations.  The Wall Street powerhouse, which has endured scrutiny over signs it was on track to pay billions of dollars in bonuses this year, earned $4.9 billion last quarter.  Their annual revenues more than doubled last year to $45.2 billion and they earned a profit of $13.4 billion in 2009.  Their biggest boost to earnings was a severe reduction in employee compensation… spending $16.2 billion (38.5% of total revenue) on wages and salaries last year.

BANK OF JACKSON HOLE

Residential Mortgage Rates for January 21, 2010

The following rates are thirty (30) day quotes for fully documented, owner-occupied and/or second home loans for borrowers with a minimum credit score of 700 which feature a one (1%) percent loan origination fee and the escrow of taxes & insurance.

PLEASE NOTE THAT CONFORMING LOAN AMOUNTS OVER $417,000 TO $693,750

ARE AVAILABLE AT HIGHER INTEREST RATES THAN INDICATED BELOW. 

                         PROGRAM

CONFORMING 

(Loans to $417,000)
                              JUMBO

(Loans over $693,750)
                         30 Year Fixed

4.875%

6.500%

15 Year Fixed

4.375%

6.000%

10/1 ARM

4.250%

6.000%

7/1 ARM

3.875%

4.625%

5/1 ARM

3.500%

4.250%

3/1 ARM

3.500%

6.625%

30 YEAR FIXED RATE FHA LOANS TO $693,750: 5.375%
 

PRIME RATE: 3.250%
 

ONE YEAR LIBOR RATE: 0.878%

Thanks for the info T.R.!  For additional information on Jackson Hole Real Estate please call the Jackson Hole Experts – Christy and Garth Gillespie – 877-739-8056.

What’s Under Contract in the Jackson Hole Real Estate Market

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In the past week we have seen an increase in activity in the Jackson Hole real estate market. The market is not on fire by any means but again we are starting to see some activity that indicates the market has some life. The most interesting aspect of the current activity has been the variety of properties going under contract.

There are currently 16 “Under Contract” residential properties which does NOT include pre construction projects (Terra, Pine Glades, 199 Pearl) or vacant land. There are 8 propeties under $1,000,000 and 8 properties over $1,000,000. There are only 3 condos verse 13 single family homes. In the past week, the most exciting activity we witnessed was a property north of town listed for $5,150,000 go under contract (both sides of the transaction are being represented by Sotheby’s International Realty – Jackson Hole). There are currently 4 properties under contract listed for more than $4.8 million. There are 5 under contract vacant land parcels.

As for Active Listings….there are 571 Residental Properties for sale in Jackson Hole and 214 Vacant Land Parcels for sale in Jackson Hole! There have been 54 closed transactions reported in the Teton Board of Realtors Multiple Listing Service since January 1st, 2009.

If you have time – check out our Top Real Estate Picks in Jackson Hole.

We hope this helps you understand the current market activity in Jackson Hole. If you would like us to expand our thoughts or if you have any additional questions please email or call the JacksonHoleExperts – 877-739-8056.

Happy Fourth of July!

Jackson Hole Mortgage Rates Updated

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In changing times it’s important to have people we can call on for advice we can trust! At The Jackson Hole Experts, one of those people is T.R. Pierce. T.R. is a mortgage broker with The Bank of Jackson Hole. He has worked with many of our clients here in Jackson and regularly provides our team of REALTORS with the latest in mortgage news. We received information below from T.R. today and with his permission we are sharing it with you. It looks like mortgage rates are on the rise. If you’re a Jackson Hole first-time home buyer this could impact your purchasing power. If you are a homeowner with a mortgage coming up for renewal, you’ll want to consider your options carefully. If you have a question about your current or future Jackson Hole mortgage needs, T.R. is a great guy to call on! You can call him at 307.734.8111.

Conforming ARM rates are lower this morning after the NAR announced that pending home sales continued their upward swing in May. Home sales rose (0.1%) for the fourth straight month… the first time this has happened since October 2004! The manufacturing sector’s activity rose to 44.8 in June as well. This was the six straight month this index has increased and the index reading indicates that manufacturing contraction has slowed, but not reversed itself. Manufacturing is a key indictor in gauging the strength of the economy.

BANK OF JACKSON HOLE
Residential Mortgage Rates for July 1, 2009

The following rates are thirty (30) day quotes for fully documented, owner-occupied and/or second home loans for borrowers with a minimum credit score of 700 which feature a one (1%) percent loan origination fee and the escrow of taxes & insurance.

PLEASE NOTE THAT CONFORMING LOAN AMOUNTS OVER $417,000 TO $693,750
ARE AVAILABLE AT HIGHER INTEREST RATES THAN INDICATED BELOW.

PROGRAM CONFORMING
(Loans to $417,000)
JUMBO
(Loans over 417,000)
30 Year Fixed
5.125%
7.875%

15 Year Fixed
4.750%
6.875%

10/1 ARM
5.125%
7.875%

7/1 ARM
4.750%
5.000%

5/1 ARM
4.000%
4.500%

3/1 ARM
5.125%
6.625%

30 YEAR FIXED RATE FHA LOANS TO $693,750: 5.375%
PRIME RATE: 3.250%
ONE YEAR LIBOR RATE: 1.590%

For additional information on Jackson Hole Real Estate please call the Jackson Hole Experts – Christy and Garth Gillespie – 877-739-8056.

Searching For Jackson Hole Real Estate Online?

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Searching For Jackson Hole Real Estate Online? A lot of you are looking on www.Sothebyshomes.com/jacksonhole. Information we just gathered from Sotheby’s International Realty tells the story. There seems to be a lot of people looking on line at property and the number is increasing. At www.sothebyshomes.com/jacksonhole we had 43,000 page visits and 11,785 listings were viewed! The average visit per page was about 36 seconds. The top searches included – Jackson Hole Real Estate, Sotheby’s Jackson Hole, Sothebys Jackson Hole, Real Estate Jackson Hole and Sotheby’s real estate. Those searches tell me that the public knows where to look for Jackson Hole real estate information – Sotheby’s! Google was the most used search engine.

When looking at our Company site www.sothebyshomes.com there were 244,000 site visits with 1,757,659 page views. The interesting statistic here is that the average visit length was about 10 minutes. Consumers from 173 countries and 6 six continents visited the site — now that is an International company! The top 5 user countries were – US, Canada, United Kingdom, Germany, Australia.

Cool information. If you are a seller this is very important information. Jackson Hole real estate is no longer a “local” market and to be honest it has not been one for 10 years. Here at Sotheby’s – Jackson Hole Brokerage we have the best agents with the most experience yet we are all local! Our competition will talk about local company with some exposure to the nation and international clients but no one can reach the customer base that Sotheby’s International Realty can. Christy and I feel honored to be here and we utilize the skills, the knowledge and the history many of the agents at Sotheby’s have to offer.

To know more about the Jacksonholeexperts please call Christy and Garth Gillespie at 877-739-8056.

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Contact

CHRISTY GILLESPIE

Associate Broker
Cell (307) 413-5242
Office (307) 732-7610
christy@jhexperts.com.com

GARTH GILLESPIE

Sales Associate
Cell (307) 413-5243
Office (307) 732-7611
garth@jhexperts.com

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Christy & Garth Gillespie is a team of real estate agents affiliated with Compass Real Estate, a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

© Copyright 2018-2023 Christy & Garth Gillespie. All rights reserved.