Tag Archive for: Properties under $500000

2019: February New Listings in Jackson Hole

/in , /by

What happened in February?

New Listings

After a very strong start to the year, where 55 new properties hit the market in January, new listing activity slowed significantly in February with only 22 new properties coming to market. This represents the lowest new inventory level since Nov 2017. The price point of February’s new listings were also lower than usual, with 8 condos hitting the market priced under $500,000. As a result, the average list price dropped to $1.4 million and the median list price dipped below $1 million for only the third time in the past year. Many of the new entry level condo listings are located in the Virginian Village development, located next to the library in Town. Newly remodeled, 1 bedrooms start at $309,000 and two bedrooms start at $410,000. Of the 8 new condos that hit the market in February, 7 of them are already under contract, illustrating the high demand for this entry level price point. Only 4 new listings came on in the $500,000 – $1 million range, including two 2-bedroom condos in the Aspens and Teton Village. Five lots hit the market in February including a rare single family lot in The Aspens, priced at $945,000.

[siteorigin_widget class=”Inked_Number_Counter_SO_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

$31,824,999

New Listing Volume

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

18

Residential Listings

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

$1,446,591

Average List Price

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

$997,500

MEDIAN LIST PRICE

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

36%

Under $500,000 Price Point

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

10

Listings above $1M

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_Cta_Widget”][/siteorigin_widget]
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 Townhome in Town

/in , , /by

New Listing :: Updated Townhome with Garage in Town

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

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
[siteorigin_widget class=”SiteOrigin_Widget_Button_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

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.

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

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

[siteorigin_widget class=”SiteOrigin_Widget_Button_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]

November a busy time for real estate? This year it was, as 50 properties sell.

/in , /by

The Colbert Real Estate Report

Monthly Market Update for Dec 2017

Jackson Hole, WY

Summary – Nov 2017:

  • 50 :: Total residential sale transactions
  • $67,868,000 :: Total residential sales volume 
  • $1,357,000::  Average sales price 
  • $900,000 :: Median sales price
  • 95% ::  Ratio of sales price to list price 
  • 145 ::  Average days on market prior to selling 

What it means:  After several months of declining real estate sales, transaction levels spiked in November, reaching 50 monthly sales for the first time since Oct 2016. These sale levels are much higher than expected, especially considering that last November saw only 34 transactions. High sale levels were helped by 7 property closings down in the Snake River Sporting Club, including 4 sales/reservations for the soon-to-be-built Fairway Lodges – 3 and 4 bedroom cabins that are zoned for short term rentals. With the spike in sale transactions, sale volume also increased, reaching a level higher than anything seen this past summer. The median sales price in November ($900,000) was identical to last month, however the average sales price in November dropped nearly $200,000 as a significant number of sales occurred in the sub $1 million market. Six properties sold for under $500,000 (including several 2 bedroom condos in the Town of Jackson), and an additional 11 properties sold between $500,000 – $750,000, currently a hot market for local buyers. The overall sales price to list price ratio continues to hover around 95%, meaning buyers are purchasing homes for a 5% average discount. However, well priced and/or high demand properties continue to sell quickly (many times fetching multiple offers) as available quality inventory remains low. The average marketing time dropped slightly to 145 days (on average), even with several properties selling after being on the market close to a year. In November, 21 sales occurred within 90 days of hitting the market, illustrating that buyers are well-educated and are ready to jump quickly when they see something they like that is well priced. (Note: As a seller, it is important to list your property competitively (based on recent comps) in order to capture these ready-to-move buyers. Contact me if you’d like to discuss the marketability and market value of your home or complete the Home Valuation Form.) 

Property Search

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

  • Quick Search or Advanced Search capabilities 
  • Customizable Map Search
  • Search by MLS #, if you have a specific property in mind
  • Create your own saved searches

Search Jackson Hole Properties now.

placeit

Create & Manage Your Own Account

Save your favorite Jackson Hole Real Estate properties or create customized search criteria for personalized direct access.
Set up your account now.

Entry level sales reach new low, with only 1 sale under $500,000 in January

/in , /by

The Colbert Real Estate Report

Monthly Market Update for Feb 2017

Jackson Hole, WY

What Sold in Jan 2017?

  • 48% :: Percentage of residential properties selling for over $1 million (uptick from past months)
  • 52% :: Percentage of residential properties selling for under $1 million 
  • 4% :: Percentage of residential properties selling for under $500,000 (lowest in 3+ years)
  • 70% :: Percentage of single family home sales (spike from last month)
  • 17% :: Percentage of condo/townhome sales (large drop from last month)
  • 13% :: Percentage of Land Sales (uptick but still low)

What it means:  After a December where nearly 25% of property sales occurred in the entry level market, the month of January saw only 1 sale under $500,000. This represented only 4% of all property sales in January, by far the lowest percentage since I began keeping stats 3+ years ago, and only the second time this stat has dropped below 10% in that time frame. The lone sale in this price range was for a 1 bedroom condo hotel at Snake River Lodge & Spa, located in Teton Village at the base of Jackson Hole Mountain Resort. The next least expensive property was a 2 bed / 2 bath townhome in West Jackson, which sold for $520,000. In looking over the past 3 years the trend is clear (see chart below): sales in the “entry level” price point have been steadily declining over the past several years. After several months of consistency, property sales over $1 million increased in January, with nearly 1 out of every 2 sales occurring in this price range. Along with the $50 million sale (see Summary above), 4 properties sold for north of $2 million this month, including a large home in Indian Paintbrush, a house up at Spring Creek Ranch and a 4.75 acre parcel on the Snake River in Wilson, which sold for full list price after 6 months on the market. After a low point last month, single family home sales spiked in January, representing 70% of all sales! (While it’s important to note that a smaller sample size (i.e. only 23 sales) can affect the stats, it’s still a significant data point.) The least expensive single family home sale was for a 3 bed / 2 bath home in Cottonwood Park, which sold quickly at $670,000. Condo sales dropped off substantially, as there were only 4 condo/townhome sales in January. Three of these 4 condo sales occurred in the sub $600,000 price point, while the other sale represented a 3 bedroom condo in Love Ridge, located at the base of Snow King Mountain, which sold for $1.25 million. Land sales picked up slightly after a slow December, but still remained sluggish, recording only 3 sales in January and including a 25 acre parcel on Saddle Butte in the Town of Jackson. 


single-family-homes-condos-land-sales-jackson-wy-jan-2017

 

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.

Only 1 out every 8 sales occurred under $500,000 in October

/in , /by

The Colbert Real Estate Report

Monthly Market Update for Nov 2016

Jackson Hole, WY

What Sold in Oct 2016?

  • 45% :: Percentage of residential properties selling for over $1 million (steady for past few months)
  • 55% :: Percentage of residential properties selling for under $1 million
  • 12% :: Percentage of residential properties selling for under $500,000 (second month in decline)
  • 53% :: Percentage of single family home sales (back up after low last month)
  • 33% :: Percentage of condo/townhome sales (similar to last month)
  • 14% :: Percentage of Land Sales (down from high last month)

What it means:  Entry level sales dropped again in October, as only 6 properties sold for under $500,000, including a vacant lot in Squaw Creek and a steep vacant lot in Hidden Ranch, that finally sold after more than 4.5 years on the market! Unfortunately, Jackson Hole opportunities for entry level buyers are shrinking as only 1 out of every 8 sales occurred in this price point last month. Currently there are 22 available properties (condos/townhomes/homes) and 14 available lots for buyers looking to stay under the half million mark. Condo and tonwhome sales remained steady in October, accounting for exactly one third of all property sales in Teton County. There were 9 condo/townhome sales under $750,000 in October, all located in the Town of Jackson, including a 2,000 townhome in E Jackson, which received multiple offers and sold for $675,000. On the other end of the spectrum, this month also saw a few high-end condo sales in Town (Pearl at Jackson & Love Ridge) and Teton Village, where a 3,400 sq foot residence at the Four Seasons sold for $5.5 million.  Single family homes sales were back up after a low last month, representing over half of all sales in October. Single family homes priced under $1 million continue to sell quickly, due to high demand and low inventory in this segment. Currently there are only 15 single family homes (with at least 3 bedrooms) for sale in Teton County under $1 million. After increasing since June, and reaching a high last month, land sales took a dive in October, accounting for only 14% of all sales. We should expect land sales in November to continue to be slow, as potential buyers purchasing now would not be able to break ground until next Spring.

property-sales-over-1million-jackson-hole-oct-2016

property-sales-under-500000-jackson-hole-oct-2016

breakdown-homes-condos-land-teton-county-oct-2016

Property Search is Here!

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

  • Quick Search or Advanced Search capabilities
  • Customizable Map Search
  • Search by MLS #, if you have a specific property in mind
  • Create your own saved searches

Search Jackson Hole Properties now.

placeit

Create & Manage Your Own Account

Save your favorite Jackson Hole Real Estate properties or create customized search criteria for personalized direct access.
Set up your account now.