Teton County Wyoming December 2010 Real Estate Update

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.