As we enter the spring/summer months, many new listings have come onto the market in Teton County. Since May 1, 2014, there have been 90 new residential listings and 40 new building lot listings. There have also been 7 new commercial listings.
RESIDENTIAL LISTINGS: Ninety new residential listings have hit the market since May 1st with an average listing price of $1,750,000. New listings range from a 2 bedroom condo in Town priced at $214,900 to 2 different $11 million estates – one in John Dodge on the Snake River and one in Crescent H south of Wilson (pictured below).
Of the 90 listings, the majority (38%) are priced between $1,000,000 – $3,000,000. The next largest price segment is the $500,000 – $1,000,000 range where there have been 26 new listings since May 1st. The price segments to see the smallest amount of new listings are Under $300,000 (3 listings) and Over $5,000,000 (4 listings).
So far 6 of these new listings have already gone under contract, which represents only 6.6% of all new listings, suggesting that many buyers have yet to make their move (perhaps because some of these new listing prices are a little too high).
The price point breakdown of the new residential listings is below. Click below to view the new listings in each category:
- Under $300,000: 3 listings
- $300,001 – $500,000: 14 listings (2 are already under contract)
- $500,001 – $1,000,000: 26 listings (3 are already under contract)
- $1,000,001 – $3,000,000: 34 listings (1 is under contract)
- $3,000,001 – $5,000,000: 9 listings
- Over $5,000,000: 4 listings
BUILDING LOT LISTINGS: Since May 1st, there have been 40 new lots to hit the market, with an average listing price of $1,725,000. Available building sites range from the last remaining lot for sale in the new King Eider development in Rafter J (listed for $312,500) to a 48 acre parcel for sale in Crescent H for $5,750,000. None of the newly listing lots have gone under contract, however there are currently 12 lot sales pending in the MLS (properties listed prior to May 1, 2014).
The price point breakdown of the new lot listings is below. Click below to view the new listings in each category:
- Under $500,000: 6 listings
- $500,000 – $1,000,000: 14 listings
- $1,000,000 – $3,000,000: 16 listings
- Over $3,000,000: 7 listings
COMMERCIAL LISTINGS: Since May 1, 2014 there have been 7 new commercial listings in Teton County. Three lease opportunities – an 1,100 sq foot office space in The Aspens, and office & retail space for lease on the corner of Pearl & King in downtown Jackson. There is also an opportunity to purchase a live/work unit south of town for $895,000 (pictured below). Finally the Teton Gables/Cutty’s Bar & Grill property ($4,850,000) and the old Maverick site ($1,150,000) are also newly available for sale. Click HERE to see all new commercial listings.
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. It may be a great time to sell. Please contact me for more info or to receive a free market analysis on your property. Properties listed by June 20, 2014 will be included in our RE/MAX Obsidian Real Estate Summer Brochure!