8.24.09

Confidence Surges in Jackson Hole:

The Jackson Hole Real Estate market has been showing positive signs of stability lately; more showings, more offers and more pending contracts. There has been much more activity compared to early summer with Buyers showing more confidence and Sellers understanding today’s reality. The seemingly stable stock market coupled with low interest rates and a rebounding national housing market have all contributed to greater transactional volume in Jackson Hole. JH’s minimal private and developable land, less than 3% of the total acreage in Teton County, WY, continues to attract capable buyers from around the globe and patient locals are also able to capitalize on better values in today’s market.

Teton Valley, Idaho: There has been good activity in Teton Valley recently as well. Many Mountain Meadows homes in Teton Springs have gone under contract and closed which appears to show the ‘bottom’ has been discovered. Based on the current inventory levels across the whole valley, they will most likely continue to have a slow incline coming out of the most recent doldrums.

8.3.09

If you didn’t get a chance to read the recent front page article in the Jackson Hole News & Guide about today’s market reality I have it in a PDF attachment if you wish to receive it.  Please email me.  There’s been some encouraging activity in the local market - Homes in Spring Creek Ranch and in John Dodge closed for nearly $6M and just over $5M, respectively. For the first time in 2009 we’ve had two months in a row with a lower quantity of new residential listings as compared to the same two months in 2008. Perhaps August’s totals will show three months in a row? Long-term confidence in Jackson Hole real estate has not disappeared, but with the DJIA showing signs of stability this could be partial reason for some recent positive activity.