Well let’s put that phrase in context – The Jackson Hole / Teton County active listing market is exploding! Yes – everyday there are more and more listings hitting the market and unfortunately not many of them are going under contract. There are currently about 845 active listings in Teton County, Wyoming. Previously the high was reached in October of 2008 so we have basically been drowning in listings for over 6 months.
When comparing today’s active listings to last year we see that in May of 2008 there were about 480 listings and if we look at May of 2007 there were only about 400 listings. The current inventory load will only continue the price pressure we are witnessing on the market. Transactions are taking place but in most cases we are seeing 20% to 30% discounts given from the high of the market!
Stay tuned as we are currently updating our Top Picks. For more information on the current market please call or email the JacksonHoleExperts – Christy and Garth Gillespie – Sotheby’s International Realty – Jackson Hole Brokerage. We are here to help and work everyday to exceed your expections.