Tag Archive for: real estate inventory jackson wy

Half of new December listings already under contract in early January

The Colbert Real Estate Report

Monthly Market Update for January 2018

Jackson Hole, WY

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

  • 33 :: Total New Listings
    • New Listing Volume: $76,462,000
    • Average List Price: $2,317,000
  • 28 :: New Residential Properties (single family, townhome, condo)
    • Average List Price: $2,055,000
    • Median List Price: $1,225,000
    • New listings priced under $1 million :: 11  (39%)
    • New listings priced under $500,000 :: 2 (7%)
    • New listings already under contract or sold: 12 (43%)
  • 5 :: New Building Sites
    • Average List Price: $3,780,000
    • Median List Price: $2,500,000
    • New listings priced under $1 million :: 1 (20%)
    • New listings priced under $500,000 :: 0 (0%)
    • New listings already under contract or sold: 3 (60%)
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What it means: After a predictably slow November, new listings ticked up in December as 33 properties hit the market last month. Along with an increase to sales volume, the average listing price also increased for the second month in a row and reached over $2.3 million for the first time since June 2017. Six new listings hit the market priced in excess of $3 million, including two homes in Teton Village and two homes on the Westbank. Five new lot listings hit the market, including one of the last true ski-in, ski-out vacant lots at the base of Jackson Hole Mountain Resort. The most telling statistic this month, is that nearly 50% of the new December listings are already under contract or sold (by Jan 10th). With inventory being so tight, buyers are ready to move quickly on well priced and/or high demand properties. Some of the listings that have gone under contract quickly include: several condos and condo hotels in Teton Village, a higher end penthouse condo in downtown, and a single family home in Wilson priced under $750,000.

**During times of low inventory and high demand (i.e. the current state of our market), many properties aren’t even hitting the open MLS market before selling. If you have a specific property type/location/price in mind, please contact me so that I can be on the look out for off-market or soon-to-be-listed properties for you. 

Notable new listings in December include:

  • Newly updated log cabin home in Hoback – $575,000
  • Three bedroom townhome with private backyard in Cottonwood Park – $629,000
  • Newly built contemporary home in the Town of Jackson – $1,699,750

Click HERE to view all Dec residential listings.

Click HERE to view all Dec land listings.

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

Property Search

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

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New Listings slow after busy summer in Jackson real estate

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.)

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.

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Save your favorite Jackson Hole Real Estate properties or create customized search criteria for personalized direct access.
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May 2017 is busy for new listings, but still lags 2016

The Colbert Real Estate Report

Monthly Market Update for June 2017

Jackson Hole, WY

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

  • 86 :: Total New Listings in May
    • New Listing Volume: $190,260,000
    • Average List Price: $2,212,000
  • 62 :: New Residential Properties (single family, townhome, condo)
    • Average List Price: $2,426,000
    • Median List Price: $1,172,000
    • New listings priced under $1 million :: 28  (45%)
    • New listings already under contract or sold: 17  (27%)
  • 24 :: New Building Sites
    • Average List Price: $1,660,000
    • Median List Price: $815,000
    • New listings priced under $1 million :: 15 (63%)
    • New listings already under contract or sold: 1 (4%)

What it means: Continuing the trend as the busiest month for new listings, May saw nearly 90 new properties hit the market in Teton County. By far the highest level of new listings in past year, it still falls a little short of May 2016 however, when 110 new listings hit the market (see charts below). The total dollar volume of new listings in May increased more than 50% from April, but again, still lagged listing dollar volume seen last year at this time. The average listing price remained above $2 million for the second month in a row, in part thanks to several new high-end listings over $10 million, including an 8,000 square foot home on 38 acres along the Snake River south of Wilson (listed for $16 million). It’s also helpful to look at the median listing price of the new inventory as it can be a more representative statistic given the amount of high-end properties. In May, the median listing price of residential properties was just under $1.2 million, as 28 new residential listings hit the market in the sub $1 million range, mostly 2-3 bedroom condos and townhomes. The least expensive single family home listing was a 1,700 sq foot cabin with garage on a small lot 15 minutes south of Wilson for $699,000 (currently the least expensive single family home in all of Teton County). Several high-end lot listings also hit the market in May, including 6 building sites priced over $2 million and an 105 acre parcel in the Snake River Sporting Club for $9 million. The median listing price for vacant land was $815,000 in May, a result of 15 new lot listings under $1 million (63% of the vacant land inventory). Well priced properties, especially condos/townhomes priced under $750,000, continue to go under contract quickly (sometimes the same day as hitting the market!) as local demand far exceeds available supply in this price point. 

Notable new listings in May include:

Click HERE to view all available May residential listings.

Click HERE to view all available May 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

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

  • 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.