RARE Jackson Hole Real Estate Market report for year over year comparing the one year period from August 2007 until August 2008.
The report is based directly on the Jackson Hole region encompassing Jackson Real Estate, Wilson Real Estate, Teton Village Real Estate, Jackson Hole Mountain Resort Real Estate, and surrounding Teton County real estate. Every attempt is made to make the reports accurate we do not hand pick the results we think are more or less favorable. This is our basic market report - if you would like in a more specific analysis please email us from our Contact page.
Town of Jackson Real Estate Listings -
Total active is up + 33%
New Listings up + 47%
Under contract down - 29%
Number sold down -18%
Sold volume down -2%,
Average sales price up +20%,
Median sales price is up + 29%,
Sold price percent of list price is - 2%
Total Active is up +33%,
Teton County Wy Real Estate (The Jackson Hole Valley) -
Total active is up +1%
New Listings up +18 %,
Under contract down - 40%,
Number sold down -34%,
Sold volume down -28%,
Average sales price up + 9%,
Median sales price is up + 12%,
Sold price percent of list price is down - 4%
Teton Village Real Estate Market -
Total active is down -21%,
New Listings down -33%,
Under contract down - 60%,
Number sold down -60%,
Sold volume down -69%,
Average sales price down -24%
Median sales price is up + 25%
Sold price percent of list price is - 4%
Summary, The lower end in Jackson Hole Real Estate (below $1.5mill) has seen the effect of the financial lending crisis that is present nationwide. The Lending institutions are requiring people to have better crdit and great liquid assests in order to get loans (As they should). This has created an effect that moves up through the market - meaning the $350k condominium buyer is not able to get a loan, the 350k condominium seller can not sell to that buyer. That seller isn’t able to move up into the next price range above, and this continues into each market above. This does not having the same effect on the highest end market, as they seem to be looking for long term places to put money and they have greater access to funding sources.
Our Jackson Hole Real Estate inventory is currently rising especially in the area of Jackson, sales spices have started pushing downward and number of sales have just began decreasing on a greater scale . This indicates that we are moving towards a buyer market.
-Rick Armstrong
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