2006 First Quarter Real Estate of Jackson Hole Market Conditions

2006 First Quarter Market Watch

Jackson Hole Real Estate Market hits 1 billion

January 27, 2006

Real Estate Brokers in Jackson Hole are celebrating yet another banner year that has yielded over 1 billion dollars in sales. The average single family home sale in Teton County is now hovering around $750,000, up 45% over 2004.

The Jackson Hole lifestyle is catching on for young families with a little money as well as the baby busters relocating from the urban areas. Several sales have happened between 8-12 million on second homes according to statistics compiled by Ron Miller of Jackson Hole Real Estate Company.

With the approval of SRA at the Jackson Hole Mountain Resort and the spike in prices of Jackson Hole listings of Teton Village Condominiums, the market could take another large jump in 2006. The winter snowfall of 2005-06 is proving to also be the best in 40 years providing a spike in advanced reservations to the Jackson Hole Ski Areas.

Jackson Hole Reservations, which is the largest wholesaler in the area, is reporting record rental sales of Jackson Hole Home Rentals and Jackson Hole Condominium rentals. The area is finally being recognized as a world class ski mountain and appeals to families in the winter.The Jackson Hole Property Management manages many of the luxury rentals and each year the statistics are higher due to more rental nights being filled.