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Sotheby’s International Realty — 61.8% Market Share!

 

2007 was a record year for the Jackson Hole real estate market, and even better one for Sotheby’s International Realty Jackson Hole Brokerage, which increased its local market share to 61.8% based on its sales volume contrasted against Teton County total sales as reported by the Teton County Assessor’s office.

Looking at the market as a whole, the total dollar volume of sales reported through the Teton Board of Realtors Multiple Listing Service (MLS) in 2007 rose 9.1% over 2006.  Even in the fourth quarter, a rocky period for the national real estate market, sale volume was up 5.6% over the same period in 2006.  Sotheby’s sales associates outpaced their competitors for the year, boosting the MLS sales volume in 2007 by 12.2%.  Based on the Teton County Assessor’s numbers, which include both MLS and non-MLS transactions, Sotheby’s associates handled 61.8% of the $1.055 billion real estate sales volume in the Jackson Hole region.  The company’s average market share for the past five years is now 58.2%.

As the result of agent’s efforts and enhanced support they receive, listings with Sotheby’s International Realty in 2007 resulted in an in-house sale nearly 60% of the time.  This was more than 50% better than the company’s nearest competitor – Real Estate of Jackson Hole.  Sotheby’s agents do 88% more transaction sides per agent and 83% more dollar volume than their closest competitor.

This story was written by Sotheby’s International Realty Jackson Hole Brokerage with contributions and editting by Garth Gillespie, sales associate. 

For more information on these statistics or if you have any questions about the Jackson Hole Market please feel free to visit JacksonHoleExperts or to call me at 307-413-5243.

 

2007 Jackson Hole Statistics Fine Tuned – March 2008

 

2nd Blog in a series of updates on 2007 statistics:

Sotheby’s International Realty of Jackson Hole has been busy compiling statistics from the past year (2007) and in next series of blog updates I will be taking some of that information and sharing it with you.  Leonard Klieman of the Jackson Hole Sotheby’s office has done an incredible job of analyzing Teton County Multiple Listing Service information along with comparing and contrasting data received from Teton County, Wyoming County Assessors Office.

Source:  Teton County Multiple Listing Service — Sales Volume for 2007 equaled $792 million.  A new record!  There were 83 less sales, but $65.9 million more in gross sales volume verse 2006.  Since 2005 unit sales have been declining yet volume has been increasing.  What does this mean??? Increase sales prices!

There was a noticeable decline in activity in the 4th quarter of 2007.  In 2007 unit volume peaked in July which is completely different from years past when September was the busiest month for sales.  There were only 26 sales reported in December and only 21 in January of 2008.  That is the first time in 3 years that there were 2 consecutive months of fewer than 30 sales.  Six months ended Jan. 08 units sales declined 29% from six months Jan. 07.

Look for more statistics in early March!

For more information or if you have any questions or comments please feel free to contact the Gillespie Real Estate Team.