2014 Real Estate Update, Jackson, Wy
The overall number of transactions in the Jackson Hole real estate market has declined 11% vs. 2013, yet the average and median sales prices have increased 7% and 13% percent respectively.
The overall number of transactions in the Jackson Hole real estate market has declined 11% vs. 2013, yet the average and median sales prices have increased 7% and 13% percent respectively. This can be attributed to more activity at the higher end of the market and a continuing lower inventory. Valley wide construction is on the rise with 67 permits issued in Teton County alone and the available inventory of land is down 8%. Also a factor in favor of the vacant land market - the sold dollar volume increased 14% over prior year and the average listing price has increased 13%.
At 3 Creek Ranch, 14 transactions in 2014 included 10 Estate Site sales, 3 Cabin Homes and 1 Ranch Parcel. As inventory becomes more scarce buyers are gravitating to 3 Creek Ranch because no other Jackson Hole property offers such a diverse lifestyle – a truly private golf course continually rated the #1 course in Wyoming, incredible private on-site fly-fishing and nature center, the best food in town and an on-mountain alpine ski club located adjacent to the tram at Jackson Hole Mountain Resort.
Real estate showings were robust in 2014 as more individuals discover the incredible perks and amenities of our community.
July, August and September were the hottest months and through October 2014, we have had 108 showings, with the popular holiday season yet to come.
With $60.2M in transactional sides sold at 3 Creek Ranch in 2014, this is a 62% increase over 2013. Prices are slowly on the rise as inventory becomes scarcer on the Ranch and in Jackson Hole. Again this year, a majority of our 2014 3 Creek Ranch sales were from existing 3 Creek owners or friends who recognized the opportunity to purchase a legacy property now, as the larger parcels become less available.
As the exclusive, on-site brokerage for 3 Creek Ranch, we continue to represent buyers and sellers or both in 98% of all 3 Creek Ranch Sales. Of the 14 transactions this year our office was involved in 13 of those, many of which weren’t part of the public MLS system. If your looking for something specific, call us we can help.
With only 6 Ranch Parcels within 3 Creek, only 2 have been available in the 2013-2014 time frame and now only one remains for sale.
And now, our first ever Estate Home has come available. This 7,800-square-foot, five-bedroom residence has custom detailed stone and beam work conveying a cozy, elegant simplicity. Surrounded by water features, this home has sweeping Teton views with a large lake in the foreground offering private fishing opportunities. Creeks flank both the East and West edges of the property. A balance of grandeur and privacy, the home exudes rustic/refined lodge living with use of all-natural materials offering an upscale and intimate feel.
New construction is also thriving at 3 Creek Ranch. Of the 135 home-sites on the ranch, 69 homes have been completed, 9 are under-construction and 4 are in design review.
3 Creek Ranch has 28 new members in 2014, more than any other year since 2007, which further reinforces 3 Creeks leadership within Jackson Hole resort communities. If your property interests lie in other Jackson Hole areas, we continue to assist buyers achieving over $50M in real estate sold in 2014 outside of 3 Creek Ranch.
Outdoor pursuits were enjoyed by 3 Creek Owners this summer and fall by completing an impressive 367 miles of hikes collectively. That number equates to about 10 hikes from the base of the Grand to the Summit! Our members also biked a whopping 1,153 miles of cycling in the Jackson Hole Valley. |