Jackson Hole Hits Milestones for Real Estate Sales & Volume for 2004 Mid Year Report
Two-thirds through 2004, Teton County stays on track for record-setting year.
Still in the throes of its busiest season-late summer and early fall-the Jackson Hole real estate market passed two noteworthy milestones with its year-to-date stats through the end of August.
Teton County, Wy., crossed both the 400-sale and 300-million barriers for ’04, placing it ahead of both ’02 and ’03. If these same statistical trends continue through the end of the year, 2004 will be the strongest annual showing for Teton County since the year 2000 (and post 9/11/01).
Simply extrapolating out the number of transactions will place the Jackson Hole sales above 600, eclipsing the 579 sales posted in 2003.
Estimating the year-end dollar volume becomes more difficult, however, given larger and more expensive properties tend to sell during the final third of any calendar year. If 2004 maintains its momentum, it’s entirely possible Teton County could crack the 500 million-and possibly $600 million-ceiling, which would up the current volume benchmark from 2002 of $470 million.
In addition, looking at the average sale price (which is not to suggest an increase in individual property value) shows an approximate 10 percent jump in the year over last ($743,000 over $675,000 in ’03).
By Years ‘s end, it would seem 2004 will be a record-setting year for the Jackson Hole real estate market.
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