As noted in the Hole Report (see earlier post), sales this year have been much lower than last year. While activity in the lower end has been almost non-existent (below $1M) the sales in the upper end (above $2M) have been somewhat more favorable. These sales have had the effect of pushing up average and median prices in most of the categories. As the economic recovery continues and government policy begins to have an effect we expect to see an increase in activity as we move toward summer and into the second half of 2009. This will be driven by both sentiment as well as historically low prices and interest rates. As we caution our clients and potential buyers don't expect the rates to stay this low. The very actions that help the economy recover will start to drive interest rates back up. If the amount you pay for your mortgage is a major consideration for you then now is the time to start seriously looking at Jackson Hole Real Estate.
Recent Sales of Single Family Homes in Jackson Hole - January 2009
Location ListPrice Sold Price
Melody Ranch $1,375,000 Undisclosed*
Town of Jackson $1,895,000 $1,535,000
*Wyoming is a non-disclosure state and for privacy some sales are not reported. Based on current market factors assuming a decrease of the listing price 15-20% would be a reasonable ball-park estimate.
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