Land Sales in Jackson dip after several strong months, high end sales dominate

The Colbert Real Estate Report

Monthly Market Update for May 2015

Jackson Hole, WY

What Sold in April 2015? 

  • 41% :: Percentage of single family home sales (up after two low months)
  • 41% :: Percentage of condo/townhome sales (up slightly from last month)
  • 18% :: Percentage of Land Sales (down after two higher than average months)
  • 41% :: Percentage of residential properties selling for over $1 million (similar to last month)
  • 59% :: Percentage of residential properties selling for under $1 million (similar to last month)
  • 29% :: Percentage of residential properties selling for under $500,000 (similar to last month)

What it means: Land sales dropped back down to average levels after two months of above average activity. Single family home sales increased after two months below average.  The breakdown by print point was very similar to last month. In addition to seeing several entry level condo/townhome sales (7 sales under $500,000), April also saw several high end sales. Nine properties sold for over $2 million (with 6 of those sales over $3 million) including two lots in Shooting Star and two Granite Ridge cabins, both located at the base of Jackson Hole Mountain Resort, a 10,000 square foot estate in Indian Spring Ranch (listed for $7.5 million) and a 13 acre legacy parcel (with a 17,500 sq foot home) located in Owl Creek adjacent to the Grand Teton National Park, which sold for an undisclosed price (listed at $10.9 million and pictured below).




13 acre, 17,000 sq foot estate in Owl Creek

Click HERE to view the entire Monthly Market Update for May. 

Thinking of listing this summer?

If you are currently thinking about selling, I’d be happy to chat with you about the current real estate market. As a Seller, you may benefit from the record low inventory levels and resulting pent up demand in Teton County. Please contact me for more info or to receive a free market analysis on your property. Properties listed byMay 31, 2015 will be included in our RE/MAX Obsidian Real Estate Summer Brochure!