New Listing :: Ultimate Convenience in MidTown

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Property Details

  • 2 bed / 1 bath / 812 sq feet
  • Single level townhome
  • Large grassy common area
  • In-unit laundry and exterior storage
  • Walk to Snow King, START bus stop, Midtown shops
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Enjoy all Midtown Jackson has to offer from this unmatched convenient location tucked off of Snow King Ave. Stroll over for a crepe at CoCo Love or a hot breakfast sandwich from Sweet Cheeks Meats. Heading to the ski resort? Catch the START bus, only a half block away. Easy single level living (no one above or below you) with in-unit laundry, spacious bedrooms and a sunny west facing back deck overlooking a large common area courtyard, perfect for lawn games, entertaining friends and playing fetch with your dog (which are allowed). Plenty of parking for owners and guests, plus a well run HOA with low dues, make this a great buy for a first time homeowner or employer/investor.

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863 W Snow King Ave

HOA Dues: $169.24/mo

Taxes: $2,280/year

$509,000

MLS: 19-2722

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New Listing :: Newly Remodeled 3 Bedroom Rafter J Home

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Property Details

  • 3 Bedrooms / 2.5 baths
  • 1,724 sq feet / 2 car garage
  • Beautifully remodeled
  • Oversized 0.30 acre lot
  • Great location in Rafter J
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Congratulations: your home hunt is officially over!

You’ve found it: 1,700+ sq. ft. of gracious living with so much style and charm. This newly remodeled three-bedroom Rafter J residence is ”the one:” large new kitchen, hardwood floors,and much more. Between the farmhouse fixtures and sliding barn doors,you’ll be asking, ”Did Joanna Gaines from HGTV design this home?!” You’ll love it all: the quaint covered porch out front….the gorgeous backyard and large deck….the flow of the floorplan….you’ll love it all! If you are looking for a move-in ready home with a fresh remodel, plenty of style, and a terrific color palette, you’ve found it. Welcome Home!

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3180 S Pitchfork Drive 

Jackson, WY 83001

Taxes: $4,846/year

HOA Dues: $670/year

$1,190,000

MLS: 19-2415

Co-Listed with Deb Keenan

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New Listing :: Peaceful Setting in Cottonwood Park

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Property Details

  • 2 bed / 1 bath / 1 car garage
  • End unit with lots of green space
  • 3 dedicated parking spots plus guest parking
  • Ability to add 500 sq foot addition
  • New roofs, decks, siding, and landscaping
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Relax and unwind in this private and peaceful setting in Cottonwood Park. This ideal end unit location affords unexpected privacy and is surrounded by mature trees and large areas of green grass. The entire complex received new roofs, siding, lighting and landscaping. (Assessment paid in full by seller at Closing.) Additional improvements include: new front and back decks, new windows and exterior doors, along with an updated bathroom, new water heater, fresh paint and cove heating. The spacious and open floor plan includes custom bookshelves and hardwood floors, while the plat allows an owner to build a 500 sq ft addition. Plenty of dedicated owner and overflow guest parking in addition to an large one car garage. Great local neighborhood close to parks, schools and pathways.

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2180 Corner Creek Lane Unit A

Jackson, WY 83001

Taxes: $2,572.60

HOA Dues: $300/month

$629,000

MLS: 19-2244

 

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New Listing :: Move-in Ready in Town of Jackson

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Property Details

  • 2 bedroom / 1.5 baths / 928 sq feet
  • Oversized one car garage
  • Private backyard area and covered front balcony
  • Move in Ready with new paint/carpet
  • Small, self-managed HOA with low dues
  • Easy access to nearby Snow King Mountain and downtown Jackson
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Bask in the outdoors and Snow King views from your private back deck and fenced yard area in the afternoon, while enjoying morning coffee on the covered front balcony.

This light and bright townhome features stainless steel appliances, granite counter tops and bamboo flooring. Two spacious 2nd floor bedrooms with vaulted ceilings take in views of Snow King and the surrounding buttes, while the updated bathroom includes a large soaking tub and heated floors.

Enjoy clean and comfortable living in this well maintained, move in ready home with fresh paint throughout, brand new carpet and a fresh stain on the back deck.

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The oversized garage is a Jackson dream, big enough to fit your car AND all your Jackson Hole toys.

Unbeatable location with quick access to hiking and mountain biking in the National Forest, a nearby START bus stop, and a short stroll to all the restaurants and shops of downtown Jackson.

Finally, enjoy the ease of a small, self-managed HOA with low dues.

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668 Flat Creek Drive

2018 Taxes: 2,326.18

HOA Dues: $525/quarter

$689,000

MLS: 19-1922

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New Listing :: Spacious Eagle Village Condo

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Property Details

  • 2 bed / 2 full baths / 1,284 sq ft
  • Gas Fireplace, separate dining room
  • Private deck with Munger Mountain views
  • Covered parking, elevator access and additional storage
  • Great location close to grocery, schools and pathway system
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This spacious Eagle Village condo includes 2 bedrooms, each with their own full bath, an open kitchen plan, gas fireplace, separate dining room, ample closets, and a private deck taking in south facing Munger Mountain views. Built in 2002, these units offer 2 covered reserved parking spaces, additional storage closet and in-unit laundry. One of the most unique features of Eagle Village, is the elevator access provided to the unit from the large underground parking garage. Enjoy the conveniences of being a part of the Smith’s Plaza, with immediate access to Flat Creek, the pathway system, grocery store, all while being in close proximity to the Jackson Hole schools system.

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1325 S Highway 89 #310

HOA: $325.23/mo

2018 Taxes: $2,804/year

$639,000

MLS: 19-1857

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For Sale :: Charming Classic Cabins in Wilson, WY

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Property Details

  • Charming Main Cabin :: 2 bed / 1 bath / 840 sq feet / 620 sq feet of decks
  • Rustic Guest Cabin :: 1 bed / 1 bath / 533 sq feet / 125 sq feet of decks
  • Additional Crescent H cabin and storage shed
  • Half acre lot in quiet local neighborhood
  • Mountain views of Jackson Hole Mountain Resort to the north
  • Strong rental income in place
  • Lots of possibilities for a new owner
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Two Classic Wyoming Cabins (rumored to be from Yellowstone!) sit on this half acre lot located in a quiet local neighborhood on the Westbank with easy access to Jackson Hole Mountain Resort, Teton Pass and downtown Wilson, all connected via bike path.

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The charming main cabin is 840 sq feet with 2 beds/1 bath, an updated kitchen with granite counter tops, updated bathroom, new paint, a cozy wood burning stove, and over 600 sq feet of decking taking in mountain views and the aerial Tram at JHMR.  The smaller rustic cabin is 533 sq feet with 1 bed/1 bath, a wood burning stove and covered front porch.

The property also includes a third historic cabin from the famous Crescent H Ranch in Wilson and a large storage shed. (*Note: Crescent H cabin is not on a foundation and cannot be used as a third dwelling (per zoning).)

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With R3 zoning and no HOA, this unique property offers many opportunities for a new owner: Build a main house and keep larger cabin as a quaint/charming guest house, live in one cabin while supplementing your mortgage with the rental income from the other, or hold as an investment with strong rental income ($49,200/year).

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2155 Coyote Loop, Wilson, WY

2018 Taxes: $4,537/year

No HOA 

$1,200,000

MLS: 19-1622

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Property sales over $1 million increase in August 2016

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The Colbert Real Estate Report

Monthly Market Update for Sept 2016

Jackson Hole, WY

What Sold in Aug 2016?

  • 52% :: Percentage of single family home sales (slight increase)
  • 34% :: Percentage of condo/townhome sales (slight decrease)
  • 14% :: Percentage of Land Sales (slight increase)
  • 45% :: Percentage of residential properties selling for over $1 million (up from last month)
  • 55% :: Percentage of residential properties selling for under $1 million 
  • 20% :: Percentage of residential properties selling for under $500,000 (spike after two months of decline)

What it means:  The breakdown of sales by property type has remained relatively consistent over the last two months, with single family home sales representing just over 1/2 of all sales in Teton County. The share of condo and townhome sales has decreased over the last few months, down from a high of 46% in May.  Land sales increased slightly in August but have remained relatively consistent throughout 2016, usually making up between 10-20% of monthly sales.  Entry level sales saw a spike in August after declining for the past two months. There were 10 condo sales under $500,000 in August, 8 of which were located in the Town of Jackson, including a 2 bed/1 bath townhome with a 1 car garage, which sold for just over $450,000. It was the least expensive property with a garage in Teton County. While the “middle market” ($500,000 – $1,000,000) remained strong in August, accounting for 34% of all sales, there were also several sales in the $1-2 million range, including a high end Pine Glades townhome on Snow King, which sold for $1,820,000. As a result, sales over $1 million increased after being down in July.  High end sales (defined as sales over $3 million) also rebounded in August (after zero sales in July), as 3 properties sold between $3-$5 million, and included homes in JH Golf & Tennis, Teton Village and 3 Creek Ranch. 

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Clusters townhome with garage sold in August (listed by JH Sotheby’s)

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Pineglades townhome at the base of Snow King sold in August (listed by JHREA)

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High-end building sites hit the market in August in Jackson real estate market

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The Colbert Real Estate Report

Monthly Market Update for Sept 2016

Jackson Hole, WY

What’s new in Aug 2016? (New Listing Analysis)

  • 77 :: Total number of new listings in Aug
    • Total New Listing Volume: $244,036,000
    • Average List Price: $3,169,000
  • 44 new residential properties (single family, condo, townhome)
    • Average List Price: $2,746,000
    • New listings already under contract or sold: 11
  • 33 new building sites
    • Average List Price: $3,733,000
    • New listings already under contract or sold: 3

What it means: The amount of new listings hitting the market has been slowly declining from the peak in May. However, thanks to an influx of vacant lots hitting the market in August, overall new listing levels saw an uptick last month. Fourteen land parcels at the Snake River Sporting Club, a golf and equestrian community south of Jackson, hit the market in August. Note that without these new lot additions to the inventory, overall new listings in August would have followed the declining trend seen over the last few months. The total dollar volume of new listings increased significantly after a slow July, as a result of several high priced lot listings across the Valley. In addition to the 14 lots listed for sale down in the Snake River Sporting Club (10 of which were 35 acre ranch parcels listed between $1.7mm-$2.7mm), there were also two 35 acre parcels listed in the Bar BC Ranch ($8.9 & $9.9 million) and four tracts making up the 580 acre Spring Gulch Ranch ranging in price from $10.9mm – $14.5mm. It’s no surprise that the average listing price in August topped $3 million, easily the highest average monthly listing price in the past year.  With the help of these lot listings, August’s new inventory is in line with new inventory levels seen in the past 2 years. While these new listings will no doubt help the overall low inventory levels, it’s also important to note what new inventory is NOT coming onto the market. Only 10 of the new listings in August (less than 20% of all listings) were priced under $700,000, with 4 of them already under contract (as of Sept 10th). On the other hand, 35 new listings in August (or 45% of all new listings) were priced in excess of $2 million.   

Notable new listings in August include:

  • Rarely listed Golf Creek condo at JH Golf & Tennis – $795,000
  • Nearly 10,000 sq foot home in the Gill Addition backing up to the Elk Refuge – $7,500,000
  • 13 acres atop Horse Creek Mesa with nearby Forest Service access – $350,000
  • Largest lot in Stilson Ranch (7 acres) along the Village Rd – $2,900,000

Click HERE to view all new August residential listings.

Click HERE to view all new August land listings.

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“Middle Market” Hot: Half of all sales in July occur in $500,000 – $1,000,000 price range

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The Colbert Real Estate Report

Monthly Market Update for Aug 2016

Jackson Hole, WY

What Sold in July 2016?

  • 48% :: Percentage of single family home sales (back to average)
  • 39% :: Percentage of condo/townhome sales (similar to last month)
  • 13% :: Percentage of Land Sales (up after 2 low months)
  • 35% :: Percentage of residential properties selling for over $1 million (down from last month)
  • 65% :: Percentage of residential properties selling for under $1 million (up from last month)
  • 10% :: Percentage of residential properties selling for under $500,000 (down again)

What it means:  The breakdown of sales across property types returned to typical levels in July, with single family home sales representing just under 1/2 of all sales. Condos and townhome sales remained similar to last month, but were still a bit below average. Land sales picked up after two months of decline, most likely a result of low inventory levels (i.e. when buyers can’t find an existing house they desire, they may to turn to land to build what they want).  Entry level sales took another dip after starting out strong this past spring. Only 10% of all sales occurred under $500,000 in July, the second lowest percentage in the past year (see chart below). As prices continue to rise, the entry level market is shrinking. The hot spot this summer is proving to be the “middle market” ($500,000 – $1,000,000). In June, 36% of all sales occurred in this price range and in July this segment accounted for over 50% of all sales! Sales in this segment included several townhomes and single family homes in Rafter J and Cottonwood Park, which remain popular with local buyers. As a result, property sales over $1 million took a dip after increasing for two straight months, accounting for only 35% of all sales (vs. 45% in June). Further, there were zero high end property sales (defined as sales over $3 million) in July, the first such time this has occurred in the past 12 months. 

Walden Pond Twinhome in Rafter J – one of many sales in the mid market price range in July (listed by JH Sotheby’s)

 

Click HERE to read the full Monthly Market Update for Aug 2016.

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Sales and dollar volume down again, available inventory lowest since 2007: Mid Year update from The Jackson Hole Report

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Sale transactions and dollar volume are down again in the second quarter of 2016, mostly due to dwindling well-priced inventory under $1 million.  The Jackson Hole Report, a quarterly market report prepared by my colleague David Viehman at RE/MAX Obsidian Real Estate, provides insights into the local real estate market through the end of the 2nd quarter 2016. Click HERE to read the full 2016 Mid Year Report. A summary of statistics/trends follows:

OVERALL MARKET

  • Total number of Sale Transactions are down 16%
  • Sales under $1 million are down 21%
  • Overall dollar volume is down 14%
  • Despite dwindling sales, the Average Sale Price increased by 3% in Q2 2016
  • Hot Price Point: Properties priced under $1 million, where 53% of the sales occurred in the second quarter
  • Hot Location: The Town of Jackson, which accounted for 35% of all sales in the second quarter
  • Overall inventory is down by 7% (compared to Q2 2015), representing the LOWEST inventory levels since the market peak in 2007

HIGH END MARKET

  • High-end property sales ($2+ million) were down 23% from Q2 2015
  • However, despite declining sales, high-end properties under contract have increased by 42%
  • There are 68 properties for sale over $5 million, an increase of 11%
  • The most expensive property for sale in Teton County is a 264 acre property just south of Wilson with 7,715 sq ft main house, guest house, and expansive frontage on both the Snake River and Fish Creek, listed for $53 million (pictured below)

264 acre property on Snake River & Fish Creek – $53 million (listed by JH Sotheby’s)

SINGLE FAMILY HOMES

  • Single family (SF) home sales in the second quarter were up only slightly (2%) from last year at this time
  • SF home sales over $1 million are up 18%, SF home sales over $3 million are up 43%
  • Overall SF home inventory is down 12%, with only 20% of listings priced under $1 million
  • Only 13 homes are available under $750,000, down 71% from this time last year
  • The average asking price of new listings is up 11% to $3.65 million – the second highest average ever!

Click HERE to view the 39 single family home listings priced under $1 million

3 bed / 2 bath in Cottonwood Park – $650,000 (Listed by JH Sotheby’s)

CONDO/TOWNHOME

  • Overall condo sales have slowed, down 6% from this time last year
  • Condo sales under $500,000 fell dramatically (down 32%)
  • Overall available inventory is up 10%, however inventory under $300,000 is down 71%
  • The average listing price for condo/townhomes is up 29%
  • 72% of available condos are priced under $1 million, with only 31% priced under $500,000

Click HERE to see the 26 condos/townhomes available under $500,000

Nelson

4 bedroom townhome in East Jackson – $499,000 (listed by RE/MAX Obsidian)

VACANT LAND

  • Lot sales are down significantly (55%) with only 28 sales in the first 6 months of 2016
  • However, the average sales price continues to climb, up 10% in Q2 2016
  • 64% of lot sales are purchased with cash (i.e. no financing)
  • Overall available inventory dipped 5% from Q2 2015, however the supply of lots remains high
  • NOTE: Supply exceeds demand in this segment, with 34 months of inventory currently on the market.
  • The majority of available lots (49) are in the $500,000 – $1 million price range.

 

WHAT TO DO NEXT? 

BUYERS: Given the low levels of available inventory, especially in the entry level market, well priced and well maintained properties will continue to sell quickly. Please connect with me so that I can alert you about soon-to-be-listed properties in your price range. You can also search Jackson Hole properties on my website or sign up for automatic listing updates. As a Buyer, it’s very important to be prepared to act quickly. Get pre-qualified with a local bank (contact me for a list of local lenders) in order to be ready to make an offer on a competitive property.

SELLERS: As a Seller, the best strategy is to price your property competitively (based on the most comparable sales) and market it effectively, as well priced properties can receive multiple offers. If you are interested in a learning what your property could sell for in this market, please complete the Home Valuation Request Form for a free, in-depth, data-driven market analysis.