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Vacant Land Sales

Once again, September proved to the the best month of the Summer. 28 of 30 days were just about perfect, the crowds are gone and after a hectic Summer, we all remember why we live here. Truly spectacular.

Looking around at sales and listings for vacant land, I found some interesting things.
2011: There have been 35 closed sales in the past year (9/2010-9/2011). The least expensive was .5 acres in East jackson for $250,000 and the most expensive was for 130 acres on the Snake River south of Wilson which was listed for $13,900,000 (I don't know the sale price). There also were two 35 acre parcels at Bar-B-C which sold for over $9,000,000 and $5,000,000 respectively. Those are pretty big numbers, once again indicating that there’s still a fair amount of money out there controlled by people who obviously believe in the value of Jackson real estate.

2010: There were 26 sales in the year from 9/2009-9/2010. The low was for a lot in Hoback Junction for around $350,000 and the high was a lot at Shooting Star that sold for around $1,300,000. A lot fewer sales and no really big ones but the bottom was was higher.

It’s also interesting to see that there are lots listed in the Town of Jackson (standard Town lots, .17 acres) for around $250,000 which is about the same as they were trading for in 2004-2005. Even more surprising is that there are lots in the Karns Hillside subdivision which are listed for between $230,000 and $280,000 which what they were selling for in 2002! And in all honestly I think there are still some Sellers who will look seriously at any offer.
In the Wilson area, prices of vacant lots have dropped some but not like the Town of Jackson. There are two lots in Stilson Ranch listed for $799,000 and $850,000 respectively. There’s also a couple lots in Wilson Meadows for $850,000 and $950,000 (both about 1.5 acres). I'm guessing there may be some room to negotiate but it should give an idea of what Seller’s expect. I've got some thoughts on all these that I probably shouldn't write in this forum, but I'd be happy to discuss over the phone. (307-413-7118)

Closings in Teton County since my last post:

16 Closings in Teton County.
The least expensive was a 3br/2ba condo in East Jackson, Just over 1000 sq.ft., no garage and Bank owned, Closed for under $215,000.
The most expensive were both listed for right around $9,000,000 and were both on the the market for well over a year. One was 15 acres in Wilson and 7000+ sq. ft and the other was a little South of Jackson, 20+ acres close Snake River with year round water and an 8000 sq.ft house.

That’s about it for now, gotta get home and pray for A.J. Burnett.

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