New Listing :: 10+ acres in Elk Ridge Ranches

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Property Details

  • 10.42 Acres
  • 8.83 acres of water rights
  • Equestrian Friendly
  • Salt River Range and Star Valley Views
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Elk Ridge Ranches at Henry’s Mountain is located just outside of Etna Wyoming. Nestled under the mountains, this 10+ acre lot is equestrian friendly and offers truly sensational 360 degree elevated views of the Salt River Range and Star Valley. The access to fly fishing, snowmobiling, hunting, boating and golfing make this area a true recreational paradise. Reasonable CC&R’s and 8.83 acres of water rights add tremendous value to this unique property.
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LOT 4 WESTERN SKY DR, Etna, WY 83120

HOA Dues: $260/year

Taxes: $708.25/year

List Price: $299,000

MLS: 21-855

Listed by: Katie Brady

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New Listing :: Peaceful End Unit Condominium

Property Details

  • 3 bed / 3 bath / 2 car garage
  • 1,462 sq ft
  • Quiet and peaceful in small development
  • Common area on Flat Creek
  • Steps from bike path, park and hiking trails
  • Gas stove, wood floors, covered back deck
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Located just steps away from Russ Garaman Park and Josie’s Ridge hiking and biking trails, this 3 bedroom condo is part of a small and private development right on Flat Creek. Enjoy commuting on the nearby bike path or relaxing next to the creek on HOA common area. This spacious end unit has a unique floor plan, a private entry way, and attached 2 car garage. The covered back deck allows year-round BBQing and is surrounded by mature willow trees affording a peaceful outdoor setting. The 9 foot high ceilings, hardwood floors and gas fireplace make this well cared for home a special find.

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900 POWDERHORN LANE UNIT A, JACKSON, WYOMING

HOA Dues: $3,800/year

Taxes: $4,514/year

List Price: $949,000

MLS: 21-365

Listed by: Katie Brady

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New Listing :: In Town Condo with Prime Location

Property Details

  • 2 Bed + Loft
  • Top Floor
  • Updates Throughout
  • Spacious Floorplan
  • Owners Storage
  • 2 Off-Street Parking Spaces
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This spacious 2 bedroom plus large loft condominium is ideally located on Aspen Drive with proximity to hiking and biking at Snow King Mountain, shopping and restaurants of downtown Jackson and the bus stop to Teton Village for skiing. The best floor plan in the development, this top floor unit features vaulted ceilings in the living room and master bedroom as well as a 200 sq ft loft perfect for an office or guest sleeping quarters. Updated over the last handful of years with refinished hardwood floors, and paint throughout as well as a new water heater, bathroom vanity, dishwasher, and washing machine. In addition to the 1,112 square feet, owners can take advantage of a wood stove hook up, a spacious outdoor storage closet, and 2 dedicated off street parking spaces.

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265 ASPEN DR #8, JACKSON, WYOMING

HOA Dues: $6,000/year

Taxes: $2,776/year

List Price: $625,000

MLS: 20-2848

Listed by: Katie Brady

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New Listing :: Downtown Townhome with Snow King Views

Property Details

  • 4 Bd, 4 Ba
  • 2,015 Sq Ft
  • 1 car garage
  • Proximity to downtown & Snow King Mountain
  • Beautifully Updated
  • Snow King Views
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Ideally located in the heart of downtown Jackson, this townhouse is the epitome of the Jackson Hole lifestyle. Conveniently located just blocks from the historic downtown, Center for the Arts and endless outdoor amenities of Snow King Mountain, you can be in the center of the action! This 4 bed, 3.5 bath townhome encompasses more than 2,000 sq ft on 3 levels with 2 separate living rooms, one with a wood burning fireplace. Enjoy morning sun and Snow King views from the east facing bedroom windows and afternoon sun on the west facing private deck.  Tastefully updated with white oak hardwood floors, all new lighting, updated bathrooms with quartzite counters and tile showers, and new KitchenAid stainless steel appliances (including a gas range) and quartzite counters in the kitchen.

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517 S CACHE ST, JACKSON, WYOMING

HOA Dues: $2,568/year

Taxes: $5,113/year

List Price: $1,150,000

MLS: 20-2439

Listed by: Katie Brady

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New Listing :: Love Ridge Condominium

Property Details

  • Short Term Rentable
  • Elevated Views
  • Proximity to Downtown
  • Owner Storage
  • Underground Parking
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You will love the convenient location of this Love Ridge Condominium! You are just minutes from the excitement of Jackson’s downtown and the outdoor pursuits of Snow King Mountain including skiing, hiking, mountain biking and horseback riding. The southeast orientation allows for a sun filled home as you are welcomed into the living space. Enjoy northeast views over the Elk Refuge from the second floor balcony. These spacious 3 bedroom condominiums have the option for 1 & 2 bed lock off arrangements, which can maximize rental income and add flexibility for owners. Each unit comes with a sizable storage unit as well as 2 parking spots in the underground garage. Sold fully furnished and turnkey for the new owner.

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531 SNOW KING LOOP #3140 JACKSON, WYOMING

HOA Dues: $7,200/year

Taxes: $8,199/year

List Price: $1,495,000

MLS: 20-2208

Listed by: Katie Brady

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New Listing :: Quintessential Mountain Home

Property Details

  • 4,100+ square feet
  • 4 BD / 5 BA
  • Private West Bank Location
  • Generous 1.52 Acre Lot
  • Abuts Open Space
  • Proximity to Wilson
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Tucked in the woods on a quiet cul-de-sac, this quintessential mountain home is only a 1/2 mile from downtown Wilson. You get it all: true peace and privacy but with unparalleled proximity to the best of Westbank living. A true stand-out for this reason. The home sits on a generous 1.52-acre lot that abuts deeded HOA open space. Soak up the views of the Wilson Faces as you soak in the second story hot tub. Comfortable and inviting, there are two bedrooms on the main floor, a large lofted space currently used as another bedroom, and a new 550 sq foot master suite with gas fireplace. The basement “bunkhouse” accommodates all your friends and family effortlessly. All together, there is approx. 4100 sq. ft. of space in this home to stretch out, relax and enjoy Wilson living at its finest

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1475 N Old Trail Dr Wilson, WY 83014

HOA Dues: $1,000/year

Taxes: $7,685/year

List Price: $2,495,000

MLS: 20-1140

Listed by: Katie Brady & Deb Keenan

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New Listing :: Welcome to Your Jackson Hole

Property Details

  • 3 Bd / 2 Ba
  • 1,235 Sqft
  • South Facing with Natural Light
  • Roof Top Hot Tub with Views
  • Zoned for short term rentals
  • Owners Storage
  • Covered Parking
  • Built in 2013
  • Elevator
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Conveniently located downtown Jackson at the base of Snow King Mountain, this contemporary condo is a rare find! The new owner of this King Ridge Condominium will enjoy modern finishes, southern exposure, a roof top deck with hot tub and views, elevator and underground parking and storage closet – all while being zoned for short-term rentals. A total of 3 beds and 2 baths, the floor plan allows for 1-bed and 2-bed lock off options. With proven rental income and all furnishings included turn key, this is an incredible opportunity to own an investment property or second home slope-side in Jackson Hole.

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429 SNOW KING LOOP, #4

HOA Dues: $5,953/year

Taxes: $6,330/year

List Price: $1,329,000

MLS: 20-478

Virtual Tour HERE

 

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New Listing :: Welcome to your Westbank Retreat

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Property Details

  • 4 bedrooms / 3 baths
  • 3,179 square feet
  • 1.17 private acres
  • Extensive Landscaping
  • Extra Built-in Garage Storage
  • Zoned for Short Term Rentals
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Perfectly situated among mature trees and extensive landscaping, this welcoming Westbank home embraces the Jackson Hole lifestyle. The large 1.17 acre lot provides the utmost privacy while affording tremendous convenience in The Aspens. The expansive outdoor space is a summer sanctuary with a tranquil pond feeding into a stream flowing over hand-laid river rock, a charming custom bridge and several raised beds lush with wildflowers.

The kitchen is finished with granite counters and a breakfast bar and offers access to the south facing sunroom with an indoor hot tub. The main level master bedroom includes a generous walk-in closet, while the nearby office/den could be used as a 4th bedroom. The second level of the home features two comfortable guest bedrooms with a large full bath.

With nearly 3,200 square feet, the functional floor plan can accommodate any sized group yet has a separate space for everyone. Entertain in the spacious great room featuring vaulted ceilings appointed with log beams, a river rock fireplace and floor to ceiling windows.

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Adventure seekers will enjoy the indoor workshop and 2+ car garage with custom built-ins and bonus storage space for outdoor toys. Everyone can unwind on the private back deck overlooking the seasonal stream and mature aspens. This home is zoned for short term rentals and currently generates strong rental income as a “favorite” with Jackson Hole Resort Lodging. Being sold fully furnished and turnkey, a new owner may continue benefiting from the rental income or enjoy it as their year-round home – a cozy ski lodge in the winter (only 10 minutes from Jackson Hole Mountain Resort) and a private escape in the summer.

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3580 N LAKE CREEK DRIVE

HOA Dues: $920/year

Taxes: $13,722/year

List Price: $2,750,000

MLS: 20-219

Video Tour HERE

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2019 Jackson Hole Real Estate Summary & 2020 Forecast

Summary: Jackson Hole Real Estate & 2020 Forecast

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Market Analysis

Real Estate Sales in Jackson Hole – Past 5 years

We all remember 2018 in the Jackson Hole real estate market, right? An explosive year where everything was up, way up! Transactions increased 13%, while overall sales volume jumped a staggering 38%, and the average sale price was up 22%. What a year! Could it continue? Surely this level of appreciation wasn’t sustainable? Many predicted a recession, or a the very least a stabilization after such a wild year. Well, the 2019 market in Jackson Hole did slow down, but just a bit. While not a significant correction like many were hoping / predicting, the numbers show that 2018 was most likely a “peak” year. With a similar level of sales in 2019, dollar volume decreased 6% and the average sale price dropped 4.5%. The median sale price increased, recording its highest mark in the last 5 years but that is more likely an indication of the “Virginian Village effect” (see sales section above) then a result of increasing sale prices. New this year, I analyzed properties that sold at or above their listing prices, which can help us understand overall demand, as these sales are usually a result of multiple and/or quick offers. In each year since 2016, more and more properties have sold at or above the asking price, peaking in 2018 at 114 property sales (nearly 1 in every 4 sales!). In 2019, with a similar level of overall sales, 87 properties sold at or above their listing price (or roughly 1 in every 6 properties). While not a drastic change, this is another indicator of demand slowing down from the highs of 2018.

Inventory Trends – Past 5 years

After peaking in 2015 (739 new listings), the amount of new inventory entering the market constricted in 2016, down 16% percent. New listing levels have been increasing year-over-year since 2017, recently up 10% from 2018 to 2019 (696 new listings) – marking the most significant increase in over 5 years. After seeing what the market did in 2018, sellers may have wanted to take advantage and cash out, listing their property for sale in 2019. When more inventory (supply) enters the market, this can put downward pressure on pricing, perhaps explaining the slight decline in both sales volume and average sales prices in 2019. Obviously this isn’t true for the entire market, as certain pockets (Town under $1.3 million for example) continue to see high demand (and increasing prices). However, even though there were more listings in 2019, we saw the same amount of sales as 2018 (with fewer new listings), perhaps as some potential buyers sat on the sidelines waiting for a larger market correction.

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2020 Forecast

After a exceptionally strong 2018, I predicted that the unprecedented rate of market acceleration could not continue (see my 2019 forecast). After seeing things slow a bit in 2019, what will 2020 bring? Will things continue to slow or plateau like 2019 or will high demand for Jackson Hole properties once again push pricing upward?

Talks of a pending recession still abound, but will it happen in Jackson? It seems unlikely. Jackson Hole remains a highly desirable place to live for year round families and second homeowners alike. As more and more people can work remotely, many want to make living the dream in Jackson Hole a reality. That will probably never change. As people continue to move here, they will continue to compete for properties with the local buyers. Unfortunately, this can lead to the local working people getting squeezed – beaten out by cash offers and buyers willing to pay over market value to get their spot in Jackson Hole. I predict it getting continually harder and harder for local buyers to enter the market, and increasingly difficult to move up in the market (without taking on a higher mortgage in the process).

There is always uncertainty with an election year. Add to that global trade talks and impeachment hearings and many people are holding their breath and watching the market closely. That being said, many investors are cash heavy, waiting for any recession induced opportunities, suggesting that any slight down turn will be immediately buoyed by an increase in demand.

In a unique market like Jackson Hole, where the supply of land is permanently limited due to publicly held land and  conservation easements, it’s hard to imagine we will see enough new supply (or a decrease in demand) to result in any significant downtown. Happy 2020!

 

Advice for Sellers in 2020:

Know how your property’s “micro-market”. Certain segments of the market are seeing different levels of demand. Be familiar with recent comps, but even more importantly, current inventory / competition in your segment.

Be prepared for multiple or quick offers in certain segments. Think about what terms are most important to you. Focus on buyer’s enthusiasm and ability to preform.

Prepare your home for sale: de-clutter, clean up, work on deferred maintenance items, etc. Move in ready and remodeled properties are receiving the most attention. Discuss which (if any) updates will produce a higher return.

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Advice for Buyers in 2020:

Know and follow the market. What are the recent comps? How are current inventory levels? What types of properties are selling quickly?

Recognize a good/fair deal and be ready to act quickly as inventory in certain segments remains low. Know that there are many buyers for the same property. How will you position yourself to be the best candidate in a multiple offer situation?

If you need to sell to buy, prepare your home now so that you will be ready to list as soon as you find the right property. Be prepared for things to move quickly when that happens.

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Note: All statistics are pulled from Teton Board of Realtors Multiple Listing Service for residential sales/listings in Teton County, WY for the dates specified above. It is estimated that sales outside of MLS account for an additional 10-20% of transactions/volume. Contact Katie for more details.

New Listing :: Peace & Quiet in The Aspens

Property Details

  • 1 bed / 1 bath
  • End Unit on the creek
  • Short Term Rental Zoning
  • Nicely updated
  • Sold Furnished
  • In-unit laundry and large storage closet
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This beautifully updated mountain contemporary condo enjoys a peaceful and quiet setting along the southern end of The Aspens neighborhood, which is zoned for short term rentals, and is located 5 minutes from the legendary Jackson Hole Mountain Resort. Take in the Teton views from the living room couch, cozy up to the stacked slate fireplace or relax on the back patio watching the seasonal stream flow through the yard. This end unit condo has an extra window, enlarged owner storage closet, desk nook, and is being sold fully furnished. Owners and guests enjoy all the conveniences of being in The Aspens within walking distance to gourmet grocery store and wine shop, gym and outdoor pool, Teton Pines golf course, tennis center and Nordic ski tracks, the START bus stop to Teton Village/Jackson Hole Mountain Resort and access to Teton County’s extensive pathway system.

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3890 LAKE CREEK DR. 1113

HOA Dues: $3,483/year

Taxes: $2,753/year

$549,000

MLS: 19-2793

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