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Jackson Hole Real Estate Market Report - January 2019

By Ronald Miller/ Broker Jackson Hole Real Estate Company, LLC

The statistical facts are in for 2018 using the facts from Teton County MLS. This was an exceptional year for our team at the Jackson Hole Real Estate Company. We want to thank all of our buyers and sellers for your part in our record breaking 4th quarter this past year. We are truly grateful. 

Our sales included a luxury collection of several nice condominiums and fine homes. We are seeing a softening of prices in higher end properties and sellers are ready to make deals. My advice to sellers is to always consider all reasonable offers and counter the buyer in the middle if possible. This has been the case on the past 5 deals I put together last month anywhere from 650k condominiums to 12.5mm homes. On our Fish Creek Bend property listed at 12.5 mm we received a 10.5mm offer and settled quickly at 11.5mm with a fast cash closing. It is always best when both buyers and sellers think they both got a fair price.

If you are considering listing your property I highly recommend you get my realistic 30-60-90- lifetime listing evaluation. You will appreciate this service and only takes a few hours to get you a realistic evaluation.  Lifetime listings hurt sellers!!  I have seen some over priced listings on our MLS way too long and they are good properties. Some listings are now shop worn being over 1,200 days on the market. Really?? The 30-60-90 price recommendation always works!! It is just a good principle and I save sellers a lot of pain without having their property on the market for several years. As a top producing Broker I am always concerned when I consider taking over priced listings if the market is not likely to produce an offer in that price range. My last 5 listings sold quickly as we priced them just a little over market value at a 90 day listing price and we met the buyer in the middle. We just placed another nice property we listed in escrow yesterday and my seller is so excited we got the job done in less than 60 days and 1 open house. It came together with 2 counter offers. Price is 95% of every deal and 5% is due diligence with residential sales from my experience. 

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