jackson wy new listings Archives - Page 3 of 3

New Listings slow after busy summer in Jackson real estate

October 11, 2017/in Market Reports, Uncategorized/by Molly Stewart

The Colbert Real Estate Report

Monthly Market Update for Oct 2017

Jackson Hole, WY

What’s new in Sept 2017? (New Listing Analysis)

49 :: Total New Listings
- New Listing Volume: $110,900,000
- Average List Price: $2,263,000
44 :: New Residential Properties (single family, townhome, condo)
- Average List Price: $2,064,000
- Median List Price: $1,140,000
- New listings priced under $1 million :: 21 (47%)
- New listings priced under $500,000 :: 7 (16%)
- New listings already under contract or sold: 12 (27%)
5 :: New Building Sites
- Average List Price: $4,020,000
- Median List Price: $2,850,000
- New listings priced under $1 million :: 1 (20%)
- New listings priced under $500,000 :: 0 (0%)
- New listings already under contract or sold: 1 (20%)

What it means: After a busy summer listing season, where we saw nearly 225 new listings hit the market in May/June/July, listing activity has quieted down a bit. Forty-four new listings hit the market in both August and September, similar to monthly levels seen last Spring. Overall dollar volume of these new listings also dropped off, however several high end listings came onto the market in September, including a 15 acre, 10,000 square foot estate in Dairy Ranches (listed for $15 million) and a newly built 14,000 square foot home in 3 Creek Ranch (listed for $18 million). Of the 5 new vacant land listings, two are listed over $7 million including a 35 acre tract in Bar BC Ranch (listed for $7 million) and a unique piece of property along the Snake River with Fish Creek running through it (listed for $7.9 million). The average listing price for September listings continues to hover just under $2.3 million, much higher than the monthly average sales price, which has been just below $1.5 million the last few months. The median listing price (a more accurate representation of the “middle” price point) also increased in September to $1.14 million (for homes/condos/townhomes). Over a quarter of new listings are already under contract (as of Oct 10th), as demand remains high for well priced properties.

Notable new listings in September include:

Two 1-bedroom condos in The Aspens – $462,000 & $498,500
3 bedroom condo with short term rental zoning at the base Snow King – $665,000
2,000 sq foot home and guest house on 2 acres on Saddle Butte – $1,250,000
Two bedroom penthouse suite in downtown Jackson – $1,950,000

Click HERE to view all available Sept residential listings.

Click HERE to view all available Sept land listings.

(Note: Links above are good for one month after report is published.)

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40% of March new inventory already under contract

April 10, 2017/in Market Reports, Uncategorized/by Molly Stewart

The Colbert Real Estate Report

Monthly Market Update for April 2017

Jackson Hole, WY

What’s new in March 2017? (New Listing Analysis)

46 :: Total New Listings in March
- New Listing Volume: $75,261,000
- Average List Price: $1,636,000
38 :: New Residential Properties (single family, townhome, condo)
- Average List Price: $1,769,000
- New listings priced under $1 million :: 22 (58%)
- New listings already under contract or sold: 14 (37%)
8 :: New Building Sites
- Average List Price: $1,003,000
- New listings priced under $1 million :: 5 (63%)
- New listings already under contract or sold: 0 (0%)

What it means: After a 5 month trend of less than 30 new listings per month (less than 1 per day of the month), new listings spiked in March as nearly 50 new properties came onto the market, totally over $75 million in listing volume. So far in 2017, new listings have followed a similar pattern to last year, which saw 48 new listings in March 2016. The average price of March’s new listings was just over $1.6 million as a half dozen high end homes hit the market including a $19 million estate in 3 Creek Ranch. That being said, over half (58%) of the new inventory hitting the market in March was priced under $1 million. We continue to see high demand for this price segment, as 9 of these new listings are already under contract (as of April 10th). Five more listings priced over $1 million are also pending, including a large home in the Gill Addition bordering the Elk Refuge (listed for $6.5 million) and a Love Ridge condo at Snow King, that received 3 offers in the first week on the market. With nearly 40% of March’s new inventory already snatched up, we may be seeing a preview of hot real estate market this coming summer. As the snow melts and spring arrives in Jackson, 8 new building sites hit the market in March, with an average listing price just over $1 million. Four of the eight new lot listings are located down in the Snake River Sporting Club, a golf and equestrian club south of Hoback Junction.

Notable new listings in March include:

Two Eagle Village condos with underground parking – $550,000 & $595,000
An older cabin on a 0.17 acre lot in Kelly – $499,000 – UNDER CONTRACT
Four bedroom Snow King condo zoned for short term rentals in Town – $930,000

Click HERE to view all available March residential listings (excluding 14 pending sales).

Click HERE to view all available March land listings.

(Contact me to view any pending or sold properties from March.)

Property Search is Here!

Search ALL Teton County Listings: Single Family Homes, Condos, Vacant Land, Multi-family, Farm/Ranch, Commercial and Leases

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Several new high end listings in Teton Village in December

January 12, 2017/in Market Reports, Uncategorized/by Molly Stewart

The Colbert Real Estate Report

Monthly Market Update for Jan 2017

Jackson Hole, WY

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

23 :: Total New Listings in Dec
- New Listing Volume: $37,400,000
- Average List Price: $1,626,000
17 :: New Residential Properties (single family, townhome, condo)
- Average List Price: $1,860,000
- New listings priced under $1 million :: 7 (41%)
- New listings already under contract or sold: 5 (29%)
6 :: New Building Sites
- Average List Price: $970,000
- New listings priced under $1 million :: 5 (71%)
- New listings already under contract or sold: 1 (6%)

What it means: The pace of new inventory entering the market continues to drag as just 23 new listings hit the market in December, a fraction of new inventory levels seen during the spring and summer months (see chart below). The low levels of new inventory this December are lower than levels seen in Dec 2014 & Dec 2015, a problem for a real estate market already extremely low on inventory. While new listings did increase slightly from November to December, dollar volume of new listings increased $12.5 million, as several high end listings hit the market. In December, there were 7 new listings in Teton Village (home to Jackson Hole Mountain Resort), totaling over $22 million, and including 3 properties priced over $3 million each. As a result of these high priced listings, the average asking price increased in December, reaching over $1.625 million. Well priced and/or high demand properties continue to go under contract quickly. Six properties, including a 2 bedroom condo in Town, a townhome in Rafter J and a 3 bedroom townhome adjacent to open space in The Aspens, already have sales pending.

Notable new listings in Dec include: