Teton Village Real Estate Report: Sizzling Up

For all you Jackson Hole real estate metric junkies out there, the winter and first quarter numbers are doing the talking these days and they tell the tale of Teton Village real estate on the rise…

Spring in Teton Village is Hot!

Spring in Teton Village is Hot!

Here’s a snapshot of first quarter results:

First Quarter Results Show Significant Gains in Teton Village Sales Activity
Teton Village saw a gain of 31.3% in unit sales, and an astonishing 82.4% surge in dollar volume. The average sales price for this area was 39% higher than the 1st quarter of 2013 with an increase of about $455,600. These properties spent 27.2% less time on the market than the previous year. After another record breaking ski season at Jackson Hole Mountain Resort, Teton Village area now leads the local real estate market in its upward trend.
West of the Snake River, including Teton Pines, Crescent H, and John Dodge, increased unit sales and sales volume. Unit sales were up 53.3% and dollar volume grew 5.6%.
Current inventory levels push the number of single family home sales downward, however, the median sold price is up over 20%, to about $980,000. Condos and townhomes saw a nearly 20% gain in both dollar volume and unit sales. Commercial and farm/ranch properties sales increased Q1 2014 compared to the previous year.

In other news in Teton Village- Teton Mountain Lodge is freshening up it’s look in all public spaces. Read more here:

¬† Psst…TETON MOUNTAIN LODGE & SPA LOBBY RENNOVATION UPDATE
Taking a cue from the fresh mountain lodge style recently adopted at the wildly popular Spur Restaurant & Bar (see photo below), the TML lobby is in the midst of an off-season rennovation. The entirely edited gathering place promises sleek, cozy and sophisticated seating areas to compliment the new cocktail lounge perfect for gathering locals and hotel guests alike. In addition to the lobby, all public spaces are being rennovated. It’s an exciting future and with only two residences currently for sale, Teton Mountain Lodge is in high demand. Stay tuned for before & after pics with the slated May 10th open.