A quick summary of The Hole Report, a comprehensive analysis of the Jackson Hole real estate market, shows the overall dollar volume was down 65% to $82 million and the number of transactions was also down 79% to 29 sales, when compared to the first quarter of 2008. Meanwhile, the average and median sale prices are both up, 70% and 9% respectively. As of April 1st, there were 640 available properties in all of Jackson Hole. When you consider only fifteen homes are currently listed for under $700,000 you begin to understand why the number of sales have decreased yet the average and median sale prices continue to increase.
Prices are adjusting down from the all time high of 2007, however, it is important to keep in mind that we were seeing increases of 20% and upwards for several years prior. We believe that the market moving forward will be tied directly to confidence or lack of in the national economy. Although the overall market has slowed, we are seeing what we believe are unprecedented deals take place between motivated sellers and qualified buyers. Jackson Hole remains an area that has consistently shown its ability to hold long-term value simply because of supply and demand. For buyers looking in the lont-term, now is the time.
If you would like to read the complete report published by David Viehman of Jackson Hole Real Estate Associates, LLC, please visit www.budgerealestate.com and click on "Market Report."
As always please feel free to contact us anytime by email or phone with any questions.
Chad & Dianne Budge Owners / Associate Brokers Jackson Hole Real Estate Associates, LLC Office: 307.733.3436 Fax: 307.733.3483 Chad - 307.413.1364 or chadbudge@jhreassociates.com Dianne - 307.413.1362 or diannebudge@jhreassociates.com
