Rick Armstrong - Jackson Hole Real Estate

A quick summary of the Jackson Hole real estate market with a simple year over year comparison.

Between January 1st 2007 and March 21st 2007 there were 135 properties for sale in the Jackson Hole Valley.

The lowest priced unit was $295,000 Ponderosa Condo, 712 square ft not remodeled (sold for 281,000)

The Highest priced property was 100 Acres at the base of Teton Village for $37,500,000 with 3 structures (listing canceled)

Between January 1st 2008 and March 21st 2008 there were 142 properties for sale.

The Lowest priced unit is 1 br, 624 sq ft for $331,000

The highest priced $32,000,000 Owl Creek on 106 Acres 7346 sq ft house 6br 7.5 bths

Currently there are 19 properties pended. The most expensive being a 4.250,000 Willowbrook home (Under contract by one of my agents here at RARE Properties)

This time last year there were 23 properties pended.

If you want more information please feel free to contact me directly at 307-733-8726 or email me from my webs

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

Jackson Hole - Isn't that the little cowboy town in Wyoming? Well - Yeah , I guess it is. We are still that little mountain town in the north west corner of Wyoming . But Jackson has become a lot more than that, I have been here for almost twenty years and I have been witness to a major change from the rubber hatchet and curio stop into what I like to call a "countrypolitan" ( I think I coined that term: ) oasis. What does that mean? Well Jackson still has retained that small town feel where everybody tends to know everybody and you don't really have to lock things to keep them safe. What makes it so different is Jackson Holes cultural experiences. We have the new 30+ million dollar Center for the Arts, the Nation Museum of Wildlife art, the Grand Teton Music festival, and a plethora of gallery offerings. We have 45+ restaurants with a culinary range from Billy's Burgers to the Four Seasons. The public schools are outstanding, though we do have two private schools if you feel you want the experience they offer.

All of this in a town with a year round population hovering at around 9,800 people. I haven't even gone into the real asset of Teton county- the outdoors. We'll save that for another blog.

If you where thinking about turning an old apartment into a new condo complex in the Town of Jackson. You might have missed your boat. The Town Council impossed a moratorium in the conversion of apartment complexes into condos. They did this so that they can figure out what there regulations actually mean - might take a while.

This could have a large effect on the supply of new inventory in our market .