General Real Estate Information Archives - Page 15 of 15 - Christy & Garth Gillespie

Rocky Mountain Resort Alliance 2007 Report

February 11, 2008/in General Real Estate Information, Resort Updates

Christy and I received a very interesting report from the Rocky Mountain Resort Alliance the other day and we felt like the information would be helpful to many of you.

First off…What is the Rocky Mountain Resort Alliance (RMRA)? The Rocky Mountain Resort Alliance is composed of boards of REALTORS of destination ski resorts in the Rocky Mountain West. The alliance was formed in January of 1996 at a meeting in Vail, CO with the presidents of the various boards or REALTORS attending. At this meeting, the various presidents discussed and came to the realization that geographic boundaries were no longer as important as the common bond that we share as resort REALTORS. We understood that the marketing and selling of resort real estate is very different from the traditional models of residential real estate sales. Our buyers and sellers have different expectations and goals and are looking for a REALTOR with knowledge of the resort markets. Frequently, buyers for a vacation home in one resort are comparing similar properties in neighboring resorts. From this realization came the idea of sharing sales information from the various resorts as well as pressing issues the resorts are facing. We know that because of the mountains, we have very limited space for development and housing the work force are issues facing each resort. As the demand for resort real estate grows, and prices increase, there is more pressure on finding suitable housing for the very important work force.

RMRA End of Year 2007

	Whistler	Park City	Steamboat	Summit County	Sun Valley
# of Active Listings	599	2902	1244	3240	1611
# of Units Sold	846	2306	1725	2463	653
Total Volume Sold	$768,745,877	$1,945,092,339	$1,002,483,388	$1,306,053,245	$558,758,059
Average Sales Price	$908,683	$843,492	$581,150	$530,269	$855,678
# of Agents	125	1184	425	820	410

	Aspen	Telluride	Jackson Hole	Vail	Winter Park
# of Active Listings	1041	629	409	1782	4176
# of Units Sold	851	355	599	2258	1051
Total Volume Sold	$1,820,970,617	$518,327,166	$844,374,258	$2,641,306,700	$387,022,178
Average Sales Price	$2,139,801	$1,460,077	$1,409,640	$1,169,755	$368,242
# of Agents	711	248	752	810	206

Those are some outstanding statistics. When we look deeper into the numbers a few statistics catch our eye.

Teton County, Wyoming average sales price is the second highest behind Aspen.
Teton County, Wyoming has the least amount of inventory available and has all the other communities beat by 200 units.

Christy and I have all the statistics broken down into types of sales so if you would like to learn more please email us at garth.gillespie@sothebysrealty.com or visit us at www.jacksonholeexperts.com.

New Market Update – Feb. 8, 2008

Market Update – Jackson, Wyoming

February 8, 2008

Another snowy day in Jackson! So far the Jackson Hole Mountain Resort has received 64 inches of snow since February 1^st. Total snowfall to date 397 inches! With those numbers the ski report is obviously exceptional. We are anticipating a large crowd for Presidents Day Weekend.

So does all this snow equate to exceptional real estate sales? No, but there has been some pretty active sales activity. The reports nationally continue to show a very slow real estate market but Jackson continues to show strength. Since February 1^st there have been quite a few of sales and pending sales that are of interest.

A 3 bedroom/3bath townhome came on the market in the Wilson area for $875,000 on Wednesday and by Thursday evening there had been a least 2 offers of over asking price!
An older home on 2 lots in the Gill Addition priced at $1,640,000 went under contract in less than 1 week.
A townhome in the Town of Jackson on Rancher Street which has been on the market for a lengthy period went under contract.
A Four Seasons Resort Penthouse listed for $4,800,000 and a Crystal Springs Condo listed for $1,575,000 both went under contract.
3365 Tucker Ranch – An 8,400 square foot log home went under contract with a list price of $8,995,000.
2 Hotel Terra Units in Teton Village sold “publicly” with an average sales price per square foot of $1,400.00.
Teton Pines “Cluster Home” closed for $2,250,000.
A 16 acre lot in Wilson closed for $2,900,000.

That’s pretty good activity for a slowing market. With those stats noted, Christy and I have noticed activity slowing considerably and inventory rising throughout the valley. Inventory in places like The Aspens and Teton Village have grown and many of the units are starting to look stale on the market. There have been lowering prices in The Aspens.

The Town of Jackson has also seen a slow down. Many choices exist if you are in the $600,000 to $1,200,000 range in the Town of Jackson or areas south of Jackson (Rafter J and Cottonwood Park).

Statistics:

Residential Active Listings –

$1 -$1,000,000 = 108

$1,000,000 – $5,000,000 = 134

Greater than $5,000,000 = 30

Vacant Land Active Listings-

$1 – $1,000,000 = 18

$1,000,000 – $5,000,000 = 102

Greater than $5,000,000 = 15

26 Total Residential, Townhomes Pending Transactions Valley wide

12 Total Vacant Land Transactions Valley wide

Total Closings since the beginning of the year = 24

Pine Glades – Jackson Hole – A Mountain Retreat in the Heart of Jackson

February 7, 2008/in General Real Estate Information, Resort Updates

Just Released….Well sort of. Sotheby’s International Realty is proud to announce the release of the first few phases of Pine Glades on February 14, 2008.

Pines Glades will be located at the base of Snow King Resort on a total of 17 acres. The location is just west of the Exhibition ski lift and is filled with thousands of mature Douglas Fir trees. When Pine Glades is completed in the summer of 2009, it will consist of 27 free market town homes and 12 deed-restricted condominiums priced to be affordable for Jackson Hole’s working families. As many have already heard, access to the development will be through a well lit spacious Alps-style tunnel from South Cache Street.

The town homes in Pine Glades will range in size from nearly 2,700 to 2,800 square feet, with three bedrooms, and three and a half bathrooms, and underground two-car garages. The custom design features vaulted ceilings, large windows, an open floor plan and gas fireplaces with a stone chimney. The developer, Dave Taylor, is locally known to build incredibly detailed and high-end homes through out the valley and Pine Glades is slated to have the same attention to detail as David’s custom homes.

The eco-friendly aspects of Pine Glades may not be as noticeable as the aesthetic qualities, but they’re just as important a part of Dave Taylor’s plans. Pine Glades is on tract to be the first residential project in Wyoming to earn the U.S. Green Building Council’s LEED (Leadership in Energy Efficiency and Design) certification.

Pricing in the first phase ranges from $1,750,000 to $2,200,000. The Gillespie Real Estate Team has full project packets available along with floor plans and standard and upgrade options. Please call us if you would like to be one of the "lucky" ones to purchase in the first phases of Pine Glades.

Welcome to the Jackson Hole Experts Blog

February 4, 2008/in General Real Estate Information

Welcome to the Jackson Hole Experts Real Estate Blog

What is a blog? The name comes from “web-log” and is sometimes referred to as “The Web 2.0.” It is basically a website that allows interaction.
What is the Jackson Hole Experts Real Estate Blog intended to be? We’ll blog with the goal of being an up-to-date resource for our community, emphasizing Jackson Hole and Teton County, Wyoming real estate, but also just about living in our great community – Jackson.

Christy and I are both excited about this new opportunity to communicate with our customers but to also reach out to new residents or individuals who are eager to learn more about Jackson Hole and our real estate market. The Gillespie Real Estate Team is here to personalize your real estate experience – to work with you how and when YOU want, whether you’re planning to buy or sell. We bring depth of experience locally and a diversity of backgrounds – we think of ourselves as your guides with your interests at the top of mind. Information is readily available, but good interpretation is not as easy to find.

Real estate is partly about lifestyle as well, so we’ll share our views of the lifestyle and the surroundings. We may get off topic, much as we would if we were spending hours in a car with you, going from neighborhood to neighborhood. The Jackson Hole Experts Real Estate Blog will be concentrating on market updates, new developments, community news, restaurant reviews and other areas of interest. Please feel free to sign up for updates and email us with any topics you would like us to discuss. Jackson Hole is such a complex place with so many interesting people and stories our goal is to bring some of them to light and to add our insight on many of the topics.

Of course, we’ll also hope that our readers will think of us when they hear of anyone who wants to buy or sell Jackson Hole residential real estate, because that’s how we make our living. You can see more about who we are at www.JacksonHoleExperts.com. Your comments are not only welcomed, but encouraged. Ask us questions, ask for advice, use us as your sounding board. We believe in long relationships, which are grounded in trust, caring and mutual respect. We not only want to make your real estate transactions memorable, we want you to refer us to your family, your friends, your colleagues, your acquaintances – and people you just meet. We thrive and grow because of you and your referrals.

Stay tuned for our next post as we will be highlighting a new development in the Town of Jackson, Pine Glades. Pine Glades was just approved by the Town of Jackson and consists of 27 luxury townhomes overlooking Snow King and the Town of Jackson.

Rocky Mountain Resort Alliance 2007 Report

New Market Update – Feb. 8, 2008

Pine Glades – Jackson Hole – A Mountain Retreat in the Heart of Jackson

Welcome to the Jackson Hole Experts Blog

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