Year End Real Estate Results For Jackson Hole — 2008

Year End Real Estate Results For Jackson Hole — 2008

Looking strictly at the Teton Board of REALTORS multiple listing service (MLS) the numbers are quite stagering. Transactions totaled 282 and sales vloume was $480 million. Verse 2007 – unit volume fell 51% and sales volume declined 39%. Charting the past seven years we saw the unit volume peak in 2005 (746) which results in a 62% reduction when comparing to 2008.

If we are looking for a bottom we believe we have a way to go. The MLS system reported only 7 sales in Teton County, Wyoming in Januray 2009! The previous low was 9 in November of 2008. And the real eye opening fact is when looking aside from the past 3 months the “low water mark” was 23 in January of 2002! Sales volume for January 2009 was $9.2 million and the previous low was February, 2002 @ 16.9 million. Wow!

Looking for a brightside? There are 47 pending transactions (includes 23 presales in Teton Village). Of the remaining 24 pending transactions this number represents twice the amount of pendings reported in January!

Currently there are 675 active listings in the Teton Board of REALTORS MLS.