Locale | Jackson Hole Real Estate Blog » Jackson Real Estate Keeps Cruising Along

8/16/06

Jackson Real Estate Keeps Cruising Along

Note: This is a new blog written and edited by Jack Stout and will contain news, thoughts and observations about the real estate market and life in general in Jackson Hole, Wyoming. I will try to be as accurate as possible with all the facts but occasionally there will be mistakes and I appologize in advance for any inaccuracies.

August 16, 2006

I can't believe that there are only 18 days until Labor day! For the rest of the country Labor Day marks the symbolic end of summer, in Jackson, it really CAN be the end of summer. We're already seeing tempreatures at night dipping into the 30’s it won't be long until we start seeing dustings of snow appear in the mornings on the higher peaks. That being said, anyone who’s spent time here this time of year knows that it can be absolutlely spectacular-great fishing, less people, less R-V’s etc.

Real Estate: May and June was very strong, especially within the town of Jackson. In fact, for a little while it felt a bit like the glory days of 99-00 when houses were staying on the market for all of 36 hours or so, if they ever officially came on the market at all. In July things cooled some, due to higher rates and, in my opinion a slight “crisis in confidence” in the nationwide real estate market. So many of our Buyer’s come from outside of Jackson and when every major newspaper in the country runs acticle’s about “the real estate bubble bursting”, eventually people will start to believe it, even in Jackson. The reality in Jackson is that 2005 was our best year yet, and the early returns from 2006 show no signs of letting up. I hate to push the competition, but to give credit where creit is due, see David Viehman’s report.

A couple of noteworthy items:

There are two 2br+loft/2ba Racquet Club units listed for $685k and $635K respectively. Granted they are located on the outer edge of the Berry Patch section and border the SRA Ranch and the views are great, but $685,000??!! If it sells for that, it would be a $235,000 jump from the next hightest 2br+loft. That sale was January 2006.

The least expensive sigle family home in Jackson is $549,000. For those struggling to get in the housing market this is pretty depressing news.

The median price for a home in Jackson is just under $1M. See above.

A .25 acre lot directly across from the Wilson School in Wilson Meadows was just listed for $599,000. That’s not a misprint, it’s a 1/4 acre.

Lastly, all skiers received some great news on Thursday when the JHMR annouced their plans to build a new Tram. Just like Steve Austin, it’s going to be bigger, stronger, faster!

oh yea, for all you Red Sox fans out there, you're team is taking on water. Even the Boston Globe says it’s time to wave the white flag. (sorry I can't help myself)

That’s all for now.