I am pleased to deliver our latest Catalog of Fine Properties for the summer of 2018. In addition to the catalog, you will find a quick market update, information on my new listing on Matheson Hill Road, and a few additional updates.
For the first half of 2018, the total number of residential sales (homes and condos) increased by 28% compared to the previous year. The increase was most noticeable in single family homes, up 37% compared to 2017. As of today, there are only 11 single family homes in Teton County, Wyoming priced under $1M. By area, Teton Village (excluding fractional sales) saw a 50% jump in the number of sales in the first half of the year. Many condo listings in the Teton Village area received multiple offers from 5+ buyers within the first day or two of coming onto the market.
The higher end of the residential market is also performing better than the previous handful of years. For luxury homes priced between $5-10 million, 11 sales have occurred in the first half of 2018, whereas only 4 sold last year. The same higher end result was evident with vacant land with the total number of sales down 9% compared to 2017. However, land with more than 1 acre saw an increase in transactions of 13% and for lots of 5 or more acres sales were up 28%. The trend indicates that luxury buyers are gravitating toward larger acreage properties with more privacy and unobstructed views.
Please contact me today if you would like a hard copy of the 2018 Summer Catalog mailed to you, or a more focused analysis on your property or a specific market segment of the Jackson Hole area. As always, I look forward to hearing from you!