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Market Watch for the Week of March 24, 2014

Teton County inventory continues to be low, especially with homes under $700,000. 

You have found the one source for all homes listed for sale in Jackson Hole.  If you have been searching IDX listings in Jackson Hole you might have noticed that you are not being shown ALL home listings. This is because some real estate offices have chose not to show you their listings. 

Click on the links to view ALL Jackson Hole single family homes for sale as of March 24, 2014:

Location                             Lowest Price          Highest Price        Median Price         # of Homes

Town of Jackson                     595,000                2,375,000                 1,295,000                    13 

South Jackson                         475,000              21,000,000                  979,000                      20

North Jackson and Buttes  1,495,000              24,750,000                5,750,000                    21

Wilson                                       365,000               55,000,000                2,150,000                    33

Teton Pines/The Aspens     1,345,000              10,500,000                2,295,000                    19

Teton Village                           2,300,000              11,250,000                4,172,500                     6

Teton County Short Sales      1,395,000               1,600,000                1,497,500                     2

Teton County Bank Owned           -                                 -                                 -                              0

 

*All data is from the Teton Board of Realtors MLS (fractionals not included).  Listing prices and data are reliable but not guaranteed and are subject to change.

What Are Home Prices Doing In Jackson Hole?

by Teri McCarthy


The future of real estate prices in Jackson Hole is always a matter of keen interest to area homeowners and investors. So it’s important when the latest national numbers in the Case-Shiller Index show that the rate of rise in real estate prices has begun to slow.

Several people have asked me, lately, "What are real estate prices doing?". 

A year over year comparison of home sales for a few Jackson Hole neighborhoods, Jan 1 through Sept 30 2013 vs the same time in 2012 shows 10.8% to 11.5% appreciation in 2013.

 

Melody Ranch 4-bedroom Home Sales Comparison
  2012 2013
# of homes sold 6 3
median sales price 773,000 839,500
average sq ft 3207 3064
avg sales price per sq ft 261.55 297.52
avg days on market 411 108
percent of list to sales price 92% 97%

 

Rafter J 3-bedroom Home Sales Comparison
  2012 2013

# of homes sold

10 15
median sales price 489,000 530,000
average sq ft 1547 1655
avg sales price per sq ft 290.68 311.64
avg days on market 222 150
percent of list to sales price 97% 98%

 

The Aspens 2-bedroom Condo Sales Comparison
  2012 2013
# of condos sold 6 7
median sales price 372,500 428,000
average sq ft 1038 1254
avg sale price per sq ft 336.69 377.99
avg days on market 292 217
percent of list to sale price 96% 97%

 

*All data is from the Teton MLS.  Sales  prices and data are reliable but not guaranteed.

America's Best Retreats
Jackson Hole is Number One For a Vacation Home
 
This week's issue of Barron’s magazine features The Best Locations in America for a Second Home, whereGrand Teton National Park Jackson Hole is ranked number one.  During their annual review of the second home market, it was discovered that buyers are fleeing high-tax states and buying up properties in states with less onerous tax burdens. In late 2012, real estate prices have risen, especially in low-tax states, such as Wyoming, Nevada, Florida and Texas. 
 
Wyoming, a state with no debt and a budget surplus of about $1 billion, saw a tax-motivated buying surge in Teton County, the second half of 2012.  Jackson Hole, Wyoming saw almost a 100% increase in luxury home sales compared with the same time period in 2011.   An astonishing forty-one Teton County luxury homes, priced over $2m, were purchased from July 1 through December 31, 2012, with an average sales price of $4,988,171.   The same time period in 2011, twenty-one luxury homes sold with an average price of $4,339,562. The percentage of list-to-sales-price jumped to 93% in 2012 from 89% in 2011.
 
luxury homeBarron’s features Jackson Hole, Wyoming as number one in their list of the twenty best places for second homes. It’s no surprise that people are choosing Jackson Hole to escape high taxes elsewhere.  Besides being tax friendly, Jackson Hole has spectacular scenery and clean air, low crime, year-round outdoor recreation, culture, good schools, wildlife, and it's located next to Grand Teton and Yellowstone National Parks.  There is no state income tax, and property taxes in Teton County are some of the lowest in the nation at approximately $6,000 per $1m of assessed property value. 
 
Barron’s list of America’s Best Retreats for a Second Home:
 
1. Jackson Hole, Wyoming
2. Palm Beach, Florida
3. Hanalei, Hawaii
4. Park City, Utah
5. North Lake Tahoe, California
6. Mount Desert Island, Maine
7. Austin, Texas
8. Aspen, Colorado
9. Wailea, Hawaii
10. Lake Geneva, Wisconsin
11. Vail, Colorado
12. Brays Island Plantation, South Carolina
13. Martha’s Vineyard, Massachusetts
14. Scottsdale, Arizona
15. Palm Springs, California
16. Kiawah Island, South Carolina
17. Hamptons, New York
18. Sun Valley, Idaho
19. Pebble Beach, California
20. Sea Island, Georgia
 
Considering a move to Wyoming?  Take a look at luxury homes in Jackson Hole currently listed for sale in the Teton MLS. Give me a call 307-690-6906 if you would like to know more about Jackson Hole properties and living in Jackson Hole, Wyoming.
 

Displaying blog entries 1-3 of 3

Whether you’re relocating to Jackson Hole, or want to buy a vacation home, primary residence, second home, resort property, condo, townhome, land, horse property, Teton view home, golf estate or ski-in/ski-out home, you’ll find all Jackson, Wilson, and Teton Village real estate listed for sale here. You need an advocate, a buyer's agent to represent your best interest, with confidentiality, Teri will you acquire a Jackson Hole property for your 1031 exchange, investment, second home or future retirement.  Take advantage of the many tax benefits of Wyoming residency. Already own a home in Jackson Hole?  Interested in knowing the value in today's market? Thinking about selling? Talk with Teri about creative marketing to attract qualified buyers for your home.  Teri McCarthy is the Broker/Owner of Jackson Wyoming Real Estate.  Teri holds the designations of ABR (Accredited Buyer Representative), CRS (Certified Residential Specialist) and RSPS (Resort and Second Home Specialist) matching buyers and sellers with Jackson Hole properties since 1989. All rights reserved 2015 Teri McCarthy Inc and Teri McCarthy, Realtor, ABR, CRS, RSPS.