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Melody Ranch Jackson Hole – New Listing – 1261 Melody Creek Lane

Stunning new listing in Melody Ranch — Jackson Hole, Wyoming.  This fabulous home is located at 1261 Melody Creek Lane, a highly desired subdivision just a few miles south of the Town of Jackson. 

Melody Ranch, just 4 miles south of the Town of Jackson, is a place of wide-open spaces, remarkable views and a strong sense of community.  While residents appreciate the development for its close proximity to town and its natural beauty, they also love the fact that it feels like a true neighborhood, a place where people have chosen to make as their year-round home in Jackson Hole.

1261 Melody Creek Lane is a wonderful, newer (2009) custom built home.  Every detail of this home was done with quality in mind.  Very few homes have been built to the standards that this home has in the neighborhood.  Highlights include full hydronic in-floor heating throughout the entire home fueled by natural gas.  5 bedrooms – 4 of which are suites which include full bathrooms.  One of which is a substantial master bedroom with views to the south, vaulted ceilings, access to a back deck, spacious master closet and an elegant master bathroom.  The entire first floor has beautiful skip sawn hickory flooring and the entire home is equipped with solid Alder doors and trim work.

This is a home that must be seen to be appreciated so call Christy and Garth Gillespie at Jackson Hole Sotheby’s to set up a showing.  We can be reached at 307-413-5243 or send us an email at garth.gillespie@jhsir.com

December 1st – Jackson Hole Real Estate Update

It has been a while since this site has been updated – we are sorry. The Jackson Hole Experts – Christy and Garth Gillespie of Sotheby’s International Realty – have been extremely busy over the past 4 months and unfortunately our Blog fell silent.

We are excited about getting back into posting current information about Jackson Hole and the Jackson Hole Real Estate Market. 2009 has been a challenging real estate climate nationally and locally. Financing continues to be a struggle and declining property and home values are creating a burden for many homeowners. We understand these issues and hope to cover topics within our blog that offer solutions and opportunities.

In our first Blog back we want to bring people back up to speed on the current market statistics. We will be updating the information soon as our last current review of the market is thru October 2009. Year to Date there have been a total of 152 closings with a sales volume of $182 million as reported by Teton Board of Realtors (TBOR) MLS system. When comparing this information to 2008 unit volume was down 41% and down 70% from 2007. Sales volume is down 58% from 2008 and 73% from 2007. Positive news is that in October we had 29 closings which was the high for 2009 and also in October we saw 7 sales over $2 million.

Christy and I believe that Sotheby’s International Realty – Jackson Hole Brokerage offers our customers the best opportunity for success. If you are a seller, hands down there is nobody in Teton County that can offer you so many marketing opportunities and exposure to the most buyers. For buyers – the same can be said – we work extremely hard in the office to educate each other on the most up to date statistics which offers our sellers the most educated price analysis. This in turn offers a buyer the opportunity to look at properties that are priced correctly for the market. We have incredible tools for both Buyers and Sellers as too how the real estate process works in Jackson Hole.

The statistics uphold our thoughts above. In October alone, Sotheby’s was involved with 23 transaction sides (a transaction = 2 sides a buyer and a seller). This equaled a 62% market share. Year to date Sotheby’s has sold 72 properties and has assisted 61 buyers complete a transaction. This equals 133 transaction sides or 55% market share. These are fantastic numbers.

As for Christy and Garth Gillespie – we continue to work extremely hard to produce results for our sellers. We have sold 8 listings so far in 2009 and have been involved in 14 transaction sides. When compared to years past we are lagging our average but we are proud of our efforts and continue to learn more about our market every day.

If you would like additional information, please feel free to call us at 307-413-5243 or email me at garth.gillespie@sothebyshomes.com. Thanks for visiting our site and we hope you stop by again real soon.

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

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 Market Update – Feb. 20, 2008 – Active Listings and Inventory

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.

As of January 2008 there were 404 current listings in the Teton County MLS.  Due to a extreme slow down in current pending activity this gives Jackson a 20 month supply of inventory.  (Months of Inventory = Active Listings / Unit Sales).  In January 2008 we saw the first increase in active listings for the first time in 3 years.  In 2006 there were 386 active listings and in 2007 there were 364 active listings at this time.  The biggest change in the data however is that pending transactions are trending down instead of up when comparing the past few years.  This trend started in November of ’07.

Properties listed for less that $3 million:  296.  Active listings are up 11.7% vs. last year and is up in January vs. December for the first time in 3 years.

Properties listed greater that $3 million:  116.  Active listings are up 9.4% vs. last year.

Teton Valley, Idaho – – Residential and Building Sites — 1,601!!!  January 2008 active listings are 46% higher than in Jan – 07 and 153% higher than in Jan – 06.  Rising inventory coupled with falling unit sales is contributing to the jump in months of inventory.  You ask what the months of inventory for Teton Valley, Idaho is….5 years!

Jackson Hole / Teton Valley Wyoming 2007 Summary:  The overall market experienced…

  • 9% rise in sales volume
  • 25% increase in average sales price
  • 30% rise in median price of a single family home
  • 34% jump in the median price of a condo
  • Decline of nearly 13% in total unit sales
  • Inventories remain tight but rose slightly in January

Teton Valley, Idaho 2007 Summary:  The overall market experienced…

  • 4 years of solid growth through 2006 ended with a 15% decline in 2007.
  • Unit sales declined 9%
  • Quarter 4 of 2007 – unit sales declined 58% vs. 2006
  • Inventory has more than doubled in 2 years.

Hope you enjoy the statistics and if you have any questions or comments please feel free to contact The Gillespie Real Estate Team.