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August 2013 Jackson Hole Real Estate Market Review

After a hiatus Christy and Garth Gillespie are back to blogging.  The Jackson Hole real estate market has been very busy so far for 2013.  We have been exceptionally busy and are having one of the best years that we can remember ever having.  Why?  We pride ourselves in pricing properties correctly and educating our Sellers and Buyers as to what is “current market”.  We have seen 4-5 years of depreciating sales and prices so now that we have better sales and prices are increasing it takes time to understand the market.  Unfortunately many sellers and agents working with sellers have over priced their properties because they saw the market heat up.  Buyers are out there but they are not stupid and are not willing to over pay for properties now that the market has done better these past 6 months.  There has been a nice increase in property prices of anywhere between 10-20%.

August was a good month with 50 sales market wide.  Over half the sales were for single family homes spread out around the valley.  Town had the most sales with 13 but also the lowest average sales price so most of these sales were either condos/townhomes or entry level homes.  North of Town also saw nice traffic as we had 7 sales.  Teton Village, 6 sales, has invested a lot of money in its infrastructure in the past 4-5 years and it is starting to see the benefits as occupancy has been at very high levels all summer.  Melody Ranch had a good August with 4 sales including the first reported million dollar sale of the year at $1.1 million (Listed by Garth and Christy Gillespie).

The highest sale recorded in August was $19,250,000 million for a home/estate located at Teton Village. Notably both sides of the transaction were represented by Jackson Hole Sotheby’s International Realty.  The Auction was put on by Concierge Auctions.

Total Sales Volume for August was just about $70 million.  Average Sales Price verse List Price was 95%.  Median sales price was $770,000 and the average sales price was $1,334,000.

If you have any questions or comments about this report please feel free to email Garth at garth.gillespie@jhsir.com or to call 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”.

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.

 

Are you ready for winter in Jackson Hole?

The beautiful oranges and yellows of fall are alive in Jackson Hole. The sun is shining, temperatures have cooled off and the tourists have left after a busy summer season. Don’t be fooled! Winter is just around the corner and weather experts are expecting another big winter, much to the delight of local skiers, tourists and the folks at Jackson Hole Mountain Resort. While it won’t be an easy task to top last year’s record breaking snow fall of over 700″ (locals are still talking about their epic ski runs from last winter), Jackson Hole Mountain Resort is ready another “La-Nina” snow year.

During these times of economic uncertainty, while many ski resorts are tightening their budgets, Jackson Hole Mountain Resort continues to show its commitment to improving and enhancing the skier experience. Construction is nearly complete on the new Marmot chairlift, which will provide access from the bottom of the Thunder chairlift up to the top of the Gondola and the Coulier Restaurant. JHMR will also increase their snow making capacity and will have an additional cat for more grooming.

Getting to Jackson Hole this winter will be even easy with direct flights from Atlanta, Salt Lake City, Denver, Chicago, L.A. and Dallas. A new flight from Newark takes off this season as well. From the airplane window, visitors can get their first glance of the 4,200 feet of vertical available for skiing, along with the famous Grand Teton mountain range. There are several winter lodging / skiing packages available. Click HERE for more information.

Jackson Hole Sotheby’s International Realty has several Teton Village property opportunities from condos to condohotels to single family homes. The Gillespie Real Estate Team can help you find the perfect ski vacation home. Contact us at 307-413-5243 or garth.gillespie@jhsir.com

Jackson Hole Real Estate Market Update: Statistics through June 2011

The first half of the year, the Jackson Hole real estate market experienced a slight improvement in sales dollar volume, but saw a significant increase in unit sales, suggesting that more transactions are happening in Teton County, but at lower sales prices.

Through June 2011, closed real estate transations in the Jackson Hole area were up 28% compared with the same period in 2010, while dollar volume sales rose improved only slightly. However, both unit sales and dollar volume were well above the lows of the real estate market in 2009 – unit sales up 96% and sales volume up 114%. Click here to view graph

June has proven to be the best month in 2011 for real estate sales dollar volume. In the month of June in Teton County, there were 29 transactions totaling $36.5 million. Compare this to the previous month of May (typically a slow month in real estate out here), where sales volumn totaled only $12 million.  Click here for a graph

Real Estate Sales by Area:

North of Town has seen the largest improvement in sales volume, with a 48% increase over the first half of 2010. North of the Town of Jackson includes neighborhoods such as Owl Creek, Solitude, Bar-B-Bar Meadows, Jackson Hole Golf & Tennis and Moulton Ranches. There were 23 sales totaling $46 million through June 2011.  South of Jackson Hole also experienced an increase in sales volume with sales totaling $21 million, a 28% increase over the first half of 2010. Teton Village experienced the largest increase in real estate transactions, with a whopping 81% increase over 2010. There were 38 sales in the first half of 2011, with many of the sales happening in the condo and condo-hotel market in Teton Village. Many investors took advantage of low prices on bank owned and foreclosed condos, in order to have a place located walking distance to Jackson Hole Mountain Resort.

For more information contact The Gillespie Real Estate Team at 307-739-8056 or garth.gillespie@jhsir.com.

Vacant Land Options in Teton Valley, Idaho

Here is a view from Lot 50 at Spring Hollow Ranch – This lot is sold but it helps show the beauty Spring Hollow Ranch has to offer.  Jackson Hole Sotheby’s International Realty along with Garth Gillespie represent the developers of Spring Hollow Ranch and we are excited to offer extremely competitive pricing for the summer of 2010. 

All lots at Spring Hollw Ranch have access to 130 acres of open space.  This is not your normal open space but it is recreational space where we have hiking trails, a spring fed pond with gazebos, access to the Rails to Trails and excellent cross country skiing in the winter.

Summers in the Teton Valley are some of the best in the west.  The towns of Driggs and Victor have farmers markets, there is an outdoor music series every Thursday night, Grand Targhee resort offers downhill biking, hiking and 2 nationally known music festivals.  There are excellent resturants (just opened Teton Thai in Driggs).

Prices for 6 to 30 acre lots start at $150,000 and go to $350,000.  44 of the 50 lots have incredible views of the Grand Tetons.  Call for details – 307-413-5243.

Jackson Hole Sotheby’s International Realty Leads the Way…

The Teton County, Wyoming real estate market experienced an increase in buyer demand during the first quarter of 2010 and Jackson Hole Sotheby’s continues to lead the way with a 70% market share as reported by Teton County MLS. 

In May 2010, sales volume rose 166% over last year and units sold doubled.  Teton County MLS reported elevn sales over $1 million in May, verse 7 in April and 4 in May.  The interest above $1 million has been encouraging and when you compare this years sales (40) over $1 million verse only (19) last year.

The sales team at Jackson Hole Sotheby’s continues to dominate the market.  Christy and I appreciate working with such a great team because it offers us so much insight.  When you work with the best agents in Jackson you are bound to learn a thing or two.  We also have the opportunity to hear about new listings not yet in the MLS or we are able to “sell” or educate an agent on a property we have listed if we hear they have a buyer looking for something in particular.  It is just a great resourse.  To give you some data to support this representation we just have to look the sales in May.  During the month of May 2010, 73% of the properties that sold in Teton Countywere liste with Jackson Hole Sothebys and our Sotheby’s team sold 55% of all properties that closed in May as reported by Teton County MLS. 

Pretty great numbers for our agents and we are proud to be part of the team.  The Gillespie Team has been contibuting to these numbers during 2010.  We have been involved in 10 transactions for 2010 and in May we sold 5 listings!

To learn more about the Gillespie Real Estate Team or about the advantages of working with Jackson Hole Sothebys International Realty please feel free to call Garth Gillespie at 307-413-5243 or email me at garth.gillespie@jhsir.com.

Affordable Retirement Get-away? Still Want to See the Teton’s?

Quality Development in Teton Valley, Idaho

Entry sign to Spring Hollow Ranch

 SPRING HOLLOW RANCH – TETONIA, IDAHO

Christy and I are proud to be able to offer an outstanding vacant land opportunity just over the hill from Jackson Hole, Wyoming in the lovely Teton Valley of Idaho.  Spring Hollow Ranch is a 50 lot development in the north end of the Teton Valley of Idaho offering outstanding views of the Tetons, high quality ammenties, strong ownership and very affordable pricing.

Lot sizes vary from 6 acres to over 30 acres in size.  All but 6 lots have full Teton views and all of the lots have access to the most beautiful recreational space available in the Teton Valley.  A private trail sysytem links both phases of development and offers the opportunity for miles of hiking, bike riding, horseback riding and cross country skiing.  34 acres of the open space includes a spring fed pond that attracts wildlife to the property.

For more information on Spring Hollow Ranch please feel free to contact Garth Gillespie at Jackson Hole – Sotheby’s International Realty at 307-739-8056 or 307-413-5243.