2005 Outlook for Jackson Hole Realty News
Interest rates are still favorable and with the economy still poised to be strong in 2005, and the local real estate regions and sales forecasts should prove to be very strong. The latest trend reported in our Realty Newsletter, is the recent re-location of city folks wanting to enjoy our many lifestyles. There were nearly 500 million dollars in transactions and sales this past year in Jackson, and there is presently over a billion dollars worth of inventory available for sale in Jackson Hole. The past 12 months were a good indicator that the market share will continue to boom in all areas.
Four Seasons Resort sales have recently boosted the local economy through the sales of luxury Condominiums. The asking prices are finally being paid for the full ownership of Four Seasons condominium units. The advent of this newly built luxury hotel in Teton Village has proven we are truly a ski resort town. Several more of the Four Seasons Condominiums, show pending and have a list price in the mid 2- 3 million dollar range.
Investment property purchases are also on the rise and should prove to be a factor in the 2005 realty markets. Condo rentals as well as home rentals provide excellent real estate investment opportunities for investors and the market in those sectors is climbing. Due to a lack of supply and great demand recently, the prices are surely poised to hit new highs in 2005. The economy is poised to move our market higher through cash purchases. These special property purchases are those sales over and above appraisal reports and information to support such high sales. When a buyer pays more than appraisal value for any given property, the average price of the property is driven higher by default.
Jackson Hole MLS statistics also show there is a limited supply of Jackson Hole Hotel and Condominium inventory for sale. Presently the only Jackson Hole Hotel properties for sale are the Miller Park Lodge at $2,750,000 and the Elk Refuge Inn at $3,200,000.
These properties are listed exclusively for sale through Jackson Hole Real Estate Company. Please contact our real estate broker for more information on these commercial listings.
