Potential buyers (or anyone that has been following the Jackson real estate market) have seen how few home purchase options are available right now. It’s typical that inventory levels dip in late winter/early spring as the existing inventory has been absorbed and many potential Sellers are waiting for warmer weather (and greener lawns) to list their properties for sale. However, this spring, inventory levels are particularly low. For example, there are only 13 single family homes for sale in the Town of Jackson, none of which are priced under $500,000. In fact only 5 of them are priced under $1 million. There is currently nothing for sale in Cottonwood Park, only 1 townhome for sale in Rafter J, and only 2 market homes for sale in all of Melody Ranch. Another example: only 6 condos for sale in Teton Village (excluding condo hotels), and only two priced under $500,000. Finally, as I reported last month in my Jackson Real Estate Market Analysis, less than a half dozen condos are currently on the market in The Aspens.

While I was working on this month’s report, I went back to my April 2013 market report where I analyzed the temporary bubble created by a lack of inventory.  It was interesting to note that, compared to this spring, the inventory didn’t seem too low! Last year at this time, there were 11 single family homes for sale under $500,000 in Teton County; today there are 2 – a cabin in Moran ($169,000) and a deed restricted attainable home in Melody Ranch ($475,000).

Available Properties for Sale in Teton County that are:	April 2013	April 2014
All Properties Under $500,000	44	24
Single family homes Under $500,000	11	2
All Properties Under $300,000	8	8

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.