Summer is in full swing here in Jackson Hole. The warm days are filled with outdoor adventures in Grand Teton or Yellowstone Park. And the cool evenings make for wonderful gatherings around an outdoor fireplace with friends.
Of course this time of year is busy for those of us in the real estate profession. Our office in Jackson Hole is a hub of activity and it’s no wonder why.
We are headed into summer with a market that is strong and exciting. Our new inventory of listings includes many offerings that are on the market for the very first time. Once again we are seeing multiple offers on properties – but there are still some excellent values to be had here in Jackson Hole.
Teton County Sales Year to Date May 31st 2013 vs. 2012
Total dollar volume is up 47.2% in Teton County. This includes all areas of the valley. The town of Jackson sales volume is up 32.5% while our resort area at Jackson Hole Mountain Resort is up a robust 86% over last year.
Much of the activity at Jackson Hole Mountain Resort has to do with the resorts continued investment into this world-renowned destination.
“Over the past 17 years the Kemmerer Family has invested an average of $8 million per year into improvements to the resort. By comparison over this period, JHMR has averaged 2.3 times more capital spent per skier visit than Rocky Mountain resorts as a group,” commented Jerry Blann, President of Jackson Hole Mountain Resort in a recent press release. Jackson Hole Mountain Resort reports the highest visitation on record for the winter ended 2013.
Improved airline service, making it easy to fly in and out of Jackson Hole has become an important factor for the health of our real estate market as well. We have direct flights from 9 major cities.
Unit Sales Up in Jackson Hole
Unit sales volumes are also up this year over last. The town of Jackson is up 48% and Jackson Hole Mountain Resort (Teton Village) is up 52% vs. 2012.
The area north of town was up a whopping 85% in unit sales and up 102% in sales volume due to the sale several luxury estates in that beautiful corridor of our valley.
And the hottest property type in Jackson Hole right now – Single-family homes – up 112% in dollar volume over last year and 76% in unit sales. Condominiums are up too with an increase of dollar volume of 44% and unit sales up 52% vs. 2012.