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Looking Good in march

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Jackson Hole Real Estate News

Thursday, March 1, 2012

Looking good for March!

video

Eighty two inches (82″!) of snow since Valentines Day!  Needless to say the skiing has been off the charts and I'm pretty sure that no one in the West has better snow right now.  Things are shaping up for a great month of March. I took this video of my friend Doug out in Four Pines on Sunday.

This picture was taken by an employee of the JHMR a couple weeks ago.  If you ever get an opportunity to get on an early Tram before the mountain opens, DO IT, it can be magical.

Wolves have found there way to the outskirts of Town and now Wyoming Fish and Game is faced with some very tough decisions.  Personally, I think we should let the wolves be, but I understand both sides of the debate.

Real Estate:

From Jan 1, 2012  - March 1 2012 there were 29 closings of residential type properties (6 over $2M) There were also 9 building lots sold, 4 over $1M
The same period in 2011 produced 41 closings of residential type properties (8 over $2M) yet there was only 1 building lot sold.  This bodes well for all those involved in the construction industry.
It should also be noted that there are 50 properties that are currently “under contract”, set to close sometime in the future.
The general feeling of those of us in the real estate business is that things have finally turned and we expect to see inventory continue to shrink and the total number of sales continue to rise.  I'm not so sure that prices are going to rise in the immediate future as Buyers are still being very disciplined but I also don't think they are going to go down.  Jackson seems to lag about 6-8 months behind the national trends and real estate in some of the bigger markets around the Country is starting to really move again.  We are so tied to the stock market here, that if those markets continue to rise, or even stay where they are,  I expect by Summer we will see the effects here.  Look for the high end properties to lead the way, followed by single family homes and condominiums being the last to come around.
A few notable closings in the past 10 days:

4br/3ba in Cottonwood, 3000+ sq. ft., .3 acres, Listed for $550,000   CLOSED $470,000

6br/6bq in Teton Pines, 7600 sq. ft., 1.15 acres, Listed for $2,400,000 CLOSED $2,100,000

4br/4ba in Melody Ranch, 3200 sq. ft., .7 acres, Listed for $850,000 CLOSED $755,000

As always, if you have any questions about these properties or any other properties in the Jackson Hole area, please give me a call at (307) 413-7118.

-Jack

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One Response to “Looking Good in march”

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