Jackson Hole just returned another record sales year with a tally of over $1.5 billion in gross sales. Prices are up over 25% in a year that the entire market across the nation saw a majority of declines with a few bright spots. Jackson seems to be almost binding bright. Why?
It seems to me that Jackson Hole has been found. People realize that when you drive into Jackson you see a majority of the land is undeveloped. In fact 98% of our land is permanently protected and cannot be developed. We are a vitual island surrounded by vistas, wildlife, and cultural experiences arguably unmatched in the U.S. We have seen a major renovation within the developed areas. Our median home price has continued to sky rocket. The next question is will this continue? Though the markets might indicate otherwise I think that we are in for another up year on the sales price and a down on the number of properties sold and possibly an increase in inventory though we have no huge additional supplies coming on the market soon. I wouldn't expect us to see another 25% increase in sales price I expect it to be a more modest gain. Only Time will tell.
As always checks us out at www.realestatejackson.com
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