Jackson Hole Realty Review for March 2005
There is a new trend to re-locate to Jackson Hole!
There are many reasons why there is a growing number of singles, families, and business people deciding to relocate to the Jackson Hole area. Among the most popular reasons are lifestyles, community, and environment. The recent trend of folks exiting from the cities has been evident over the past ten years. There is a growing number of the baby-boomer generation realizing that they have more options in our new information age society. This combined with a real desire to live out the remainder of their years in a better place has brought them to Jackson Hole and other resort areas that offer similar attributes.
Many young people re-locate to Jackson Hole directly from college. They have a pent up desire to escape the rat race and take a deep breath from over 16 years of being a student. Our flourishing economy and the plentiful seasonal jobs provide for a fast transition for the single adult. The National Parks, both Yellowstone and Grand Teton National Park provide tens of thousands of seasonal jobs for those students finished or on Summer break. I have personally met many people in there 70's and 80'shere, today - that live in Jackson Hole as a result of a summer vacation and job in the Parks theyonce held when young. There are a growing number of senior adults living here and actually skiing every day in the winter. There is a club of senior skiers known as the 'old dogs" that faithfully meet on the mountain aerial tram to ski expert terrain and out of bounds areas every day. These folks are good skiers that can keep up with some of the best locals on the mountain.
Families are also attracted to the area for many reasons. As the community is becoming more affluent and the local economy is growing, there are many new employmnt options being produced that make it feasible for a family to be sustained in the valley area. Although the real estate prices are high in and around the Jackson Hole area, there actually are many areas in the surrounding communities that make for an easy transition with some commuting time. There are some moderate priced opportunities in the town of Jackson that also provide excellent proximity to most all the conveniences found in the big cities. Most of the locals live in the south region of Jackson Hole as the pricing is more favorable in this area and the local family communities are centered more here. There are a few opportunities in the Racquet Club Resort Region area that also provide moderate condominiums and properties that work well as a starter unit for a small family unit.
Another trend in the local real estate market has been the influx of the business community. Again, with the information hi-way at our fingertips, these businessmen realize they can enjoy the best of both worlds. The attraction of the Wyoming no-income tax state- wide policy has also provided a tax advantage for the wealthy that have passive income. These business executives are mostly re-locating to the exclusive West Bank Region of Jackson Hole to have good proximity to both the skiing opportunities as well as many other Jackson Hole summer activities and winter activities.
Teton Village Real Estate has enjoyed a brisk realty boom. Many young 20-30 year old business executives like to be close to the Slopes and will buy exclusive real estate in the new Jackson Hole Four Seasons Condominiums as well as in some of the other Slopeside Hotels that offer full and fractional ownership programs. Other popular condominium and Town home projects that have become extremely popular are the Moose Creek Condominiums and Granite Ridge Townhomes for developments. With new base chairlifts coming in, these ski-in/ski-out locations are the hottest sellers and the supply and inventory are very limited.
For more information on past market reviews, see our 2004 Mid Year Report, the Fourth Quarter Real Estate Report, see our Realty Newsletter for January 2005, February 2005 Realty Market Newsletter for more information - or our 2005 Market Outlook Reatly Review.
