Tag Archive for: entry level

2019: May New Listings in Jackson Hole

New Listings

Listing activity exploded in May with over 100 new listings hitting the market last month. New listings in May of this year exceeded all of the busy summer months of 2018. In fact, the last time we saw over 100 new listings in a single month was back in July 2017. May’s new listings totaled nearly $225 million, a  monthly dollar volume not seen since August 2018. Of the 101 new listings in May, 35 of them were for vacant land, an activity level not matched since May of 2014. These available building sites covered the entire Valley from Solitude down to the Snake River Sporting Club, Ranging in price from $345,000 – $16,000,000. The average listing price of May’s new inventory is $2.2 million, the highest monthly average we’ve seen so far this year. The median sales price also increased in May, up to just under $1.3 million. The majority (40%) of new listings in May were in the $1-3 million price range. Twenty-two new listings entered the market priced above $3 million, including homes in Granite Ridge and Shooting Star out at Teton Village and two lots in the newly-created Seven Springs subdivision along the Snake River on the Westbank. On the other end of the spectrum, only 10% of the new inventory was under the $500,000 mark and included 1-2 bedroom condos in Ponderosa Village and Virginia Village in the Town of Jackson. Nearly 1/4 of May’s new listings are already under contract or closed, signaling a strong start to what should be a very busy summer selling season.

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$224,672,000

New Listing Volume

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35

Vacant Lot Listings

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$2,224,475

Average List Price

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$1,295,000

MEDIAN LIST PRICE

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22%

over $3M Price Point

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11

Listings under $500k

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Note: All statistics are pulled from Teton Board of Realtors Multiple Listing Service for residential sales/listings in Teton County, WY for the dates specified above. It is estimated that sales outside of MLS account for an additional 10-20% of transactions/volume. Contact Katie for more details.

New Listing :: Two bedroom condo in E Jackson

2 bed / 2 bath / 921 sq feet

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Property Details

  • 2 bed / 2 bath
  • Vaulted Ceilings
  • Updated kitchen
  • Large private deck
  • Storage
  • Covered Parking
  • Adjacent to May Park
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Conveniently located in East Jackson, this spacious 2 bed/2 bath condo enjoys a large semi-private deck with western views. Great in-Town location adjacent to the new May Park and steps away from the hospital, Elk Refuge and Cache Creek trail system. Newly painted with vaulted ceilings, this property includes covered parking, has laundry hook-up in the unit and is dog-friendly.

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755 E Hansen Ave #215, Jackson, WY

2018 Taxes: $2,322/year

HOA Fees: $449/month

MLS: 19-1149

Co-Listed with Deb Keenan, JHREA

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New Listing :: Remodeled Top Floor Condo in Teton Village

New Listing :: Two bedroom, 2 bathroom condo with 1 car garage

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Property Details

  • 2 bed / 2 bath / 1,210 sq feet
  • Top Floor with vaulted ceilings
  • Beautifully remodeled with high end finishes
  • Sold fully furnished & turn key
  • 1 garage stall in shared garage
  • Sundance membership included
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Never before listed, this top floor 2 bed, 2 bath Teton Village condo has been completely remodeled with no detail left untouched.

Tasteful and modern updates such as granite countertops, beautiful tile work, solid alder doors and trim, pendant lighting, new carpet and slate flooring are complimented by a Rais woodstove that swivels to accommodate a family meal at the 8-person dining table or to warm a relaxing evening in the spacious, yet cozy, living room. The attention to detail is apparent with many functional updates including a desk nook in the kitchen, wooden cubbies and bench in the entryway, in-floor radiant heating, a new oven/range, and custom built-in cabinets throughout the condo. Plenty of storage with several “owner” closets, a walk-in closet in the master bedroom and a ski locker near the front door.

Breathe in the fresh mountain air from both the large private deck with eastern Valley views off the living room and a smaller deck off the master suite with view of the ski resort.

While only a 10-minute walk from the legendary Jackson Hole Mountain Resort, the condo is also serviced by a complimentary ski shuttle during the winter season. Finally, the sale includes a membership in the nearby Sundance Tennis & Swim Club, where a post skiing hot tub soak is only a few steps away.

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3655 W MICHAEL DR B-4, Teton Village, WY 83014

2018 Taxes: $4,550/year

HOA Fees: $1,400/quarter

List Price: $995,000

MLS: 19-439

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New Listing :: Two Bedroom Townhome in Town

New Listing :: Updated Townhome with Garage in Town

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Property Details

  • 2 bed / 1 bath / 1,008 sq feet
  • Brand new south facing deck overlooking large common yard
  • Vaulted ceilings, gas stove
  • Hardwood floors, new appliances
  • Up close views of Snow King Mountain
  • 1 car garage plus two dedicated parking spots
  • Great location in central Jackson, walking distance to post office, grocery store, restaurants, and bus line
  • Pets allowed
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This two bedroom townhome boasts one of the best locations in the Clusters development, with a south facing deck taking in up-close views of Snow King Mountain.

Vaulted ceilings, extra windows and a skylight create a bright and open feel, while the gas stove makes for cozy winter nights. Feel at home with many upgrades including pine hardwood floors and new stainless steel appliances.

Enjoy access to a large grassy common area, perfect for yard games and dog exercise. There are two dedicated off-street parking spots in addition to the one car garage, which includes extra lofted storage.

Conveniently located in central Jackson adjacent to Powderhorn Park and within walking distance to the post office, grocery store, coffee shop and restaurants, and the START bus stop.

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400 Powderhorn Lane #66, Jackson, WY 83001

2018 Taxes: $2,252.96/year

HOA Fees: $4,881,36/year

List Price: $555,000

MLS: 19-141

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Sale Prices remain strong despite low sales, volume

The Colbert Real Estate Report

Monthly Market Update for Nov 2017

Jackson Hole, WY

Summary – Oct 2017:

  • 37 :: Total residential sale transactions
  • $56,333,000 :: Total residential sales volume 
  • $1,523,000::  Average sales price 
  • $900,000 :: Median sales price
  • 95% ::  Ratio of sales price to list price 
  • 147 ::  Average days on market prior to selling 

What it means: Real estate sales continued to decline in October, with 37 total transactions, the lowest number of sales since April 2017. With the busy selling season over, we should expect to see this slowing trend continue into the winter. Compared to this time last year (Oct 2016 saw 57 sales for $87 million), sales and volume are down significantly, most likely a result of lower inventory levels. Despite sales volume declining, the average sales price actually increased slightly in October (to over $1.5 million) as the prices of homes remain very strong. Ten properties sold for over $2 million in October (which pulled up the average sales price), however the median sales price last month was slightly below average, as several “entry level” properties also sold (18 sales under $750,000, 8 sales under $500,000). The overall sales price to list price ratio continues to hover around 95%, meaning buyers are purchasing homes for a 5% average discount. However, properties are selling even more quickly as available quality inventory declines. In October, 18 sales (nearly 50%) sold within 90 days of listing, with many fetching multiple offers in the first few days of hitting the market. Fast selling properties included condos in Town and The Aspens, townhomes in Town, a high-end home in Wilson and a $6+ million home in John Dodge.  October also saw several sales down in the Snake River Sporting Club, including several of the new Fairway Lodges, which are zoned for short term rentals (only a few remain). 

 

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Featured Listings

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Entry Level sales down, land sales up in Sept 2016

The Colbert Real Estate Report

Monthly Market Update for Oct 2016

Jackson Hole, WY

What Sold in Sept 2016?

  • 38% :: Percentage of single family home sales (lowest % in past year)
  • 34% :: Percentage of condo/townhome sales (identical to last month)
  • 28% :: Percentage of Land Sales (double last month)
  • 44% :: Percentage of residential properties selling for over $1 million (similar to last month)
  • 56% :: Percentage of residential properties selling for under $1 million 
  • 15% :: Percentage of residential properties selling for under $500,000 (back down after increase)

What it means:  After many months of consistency, the breakdown of sales by property type changed significantly in Septebmer. Single family home sales represented only 38% of all sales last month, dipping below 40% for the first time since Aug 2015. This drop can be attributed to dwindling available inventory, especially in the Town of Jackson, where there are currently only 19 homes available under $1.5 million.  Condo and townhome sales remained consistent, representing 1 out of every 3 sales in Teton County last month. Three of the condo sales in September were over $1 million including two “downtown” high-end condos on Pearl Ave and a 5 bedroom condo in Teton Village, which sold quickly after hitting the market.  Land sales spiked in September, representing nearly 30% of all sales, double the 12-month average of 15%. Lots sales in September occurred all over the Valley: from 3 lots in JH Golf & Tennis, to a building site on Karns Hillside in Town, to a unique 5 acre parcel in “downtown” Wilson with Fish Creek frontage. The majority of lot sales in September occurred over $1 million, with 6 lots selling for over $2 million, including large parcels in Bar BC, Wilderness Ranches, Shooting Star and Spring Creek Ranch.  Entry level sales took a dip as 15% of property sales were under $500,000 in September. While this segment of the market has seen volatile ups and downs over the past year, the general trend is downward as fewer and fewer properties are available at this price point. Compare this past month (15%) to early in 2014, when 40-45% of property sales occurred under $500,000 (see chart below). Currently there are only 27 properties in ALL of Teton County priced under $500,000.  

propertiesover1million-sept2016

propertiesunder500000-sept2016

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What Is Your Home Worth?

Curious about the value of your home? Complete the Home Valuation Request form to receive an estimate of the market value of your home. 

 placeit (3)

Featured Listings

Browse Katie’s “Top Picks” for current values in the Jackson Hole real estate market. Updated with new listings weekly. Browse now.

Property sales over $1 million increase in August 2016

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. 

over1m

under500

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clusters

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

pineglades

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

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