Great Time to Buy Real Estate in Jackson Hole Wy : 2 Recent Real Estate Deals Reviewed

Last month we closed on two properties in Jackson Hole. I admit this is not a very impressive sentence, particularly if it had been written in 2006 – or any year but this one. In fact, it probably would have been considered a very average month. But on this second week of March, it actually accounted for more than 20% of the Real Estate sales in Teton County Year to Date.

I share this information only to demonstrate how much the market has slowed in the last 12 months and what a great time it is to invest in Real Estate in Jackson Hole. Last year, by the second week of March, 35 properties had closed in Teton County Year to Date and that was by no means a robust market compared to 76 closings in that same time span in 2007. That is not to say though that Jackson’s Real Estate market is all doom and gloom – if you are a Buyer. Yes, sales volume is dramatically lower and inventory has risen sharply and these factors create motivated Seller’s and very lucky Buyers.

Case in point, on March 6th we closed on a 4 bedroom, 4 bath, 2800 sq ft home with stunning Teton Views for $1,475,000. The property was being sold for $1,500,000, however, had the Buyer’s visited that home 12 months before they would have seen a $2,300,000 price tag along with a 2007 appraisal that valued the home at $2,150,000. What a difference a year makes.

An equally amazing deal was the closing of Moose Creek #22 in Teton Village for $1,479,000. This ski in/ski out town home was one of only two free standing townhomes in the exclusive Moose Creek area of Teton Village that actually has its own ski lift that goes to the base of Jackson Hole Mountain Resort. If you were to look at sold comparables for these three bedroom townhomes in 2007-2008, you would have found the range to be within $1,800,000 - $1,875,000, yet this market has created a handful of motivated Sellers willing to sell $400,000-500,000 below comps.

Finding these types of Real Estate deals is our specialty. Our team is exclusively comprised of Buyer’s Agents and our focus is on helping you find and purchase your perfect piece of Real Estate property in Jackson Hole. As Buyer’s Agents, we are your advocate and your advocate only. Please contact us today if you have questions or would like more information on some of the incredible properties now on the market at discounted prices.

Go ahead, Search our Jackson Hole MLS today and call us for a consultation.

Andrew Ellett at andrew@jacksonholerr.com (307.690.6155) or Mark Winston at mark@jacksonholerr.com (307.699.0128)