Data from the first quarter of 2013 shows real estate market values looking very good in Jackson, WY. In turn, we expect the Jackson Hole construction market to come up with the trends in property values and sales. As custom builders in Jackson, we have seen the market go through many upswings and downturns since 1996. With the national housing market gaining momentum we are ecstatic to see real movement again in Jackson, WY.
As compared Q1 of 2012 the total number of properties under contract has increased by 96 percent and the average list price is now 87% higher than last year. In the the upper end real estate market we find a a 400% increase in homes valued over $1M under contract as compared to Q1 2012.
David Viehman of The Jackson Hole Report points out that “the majority of our buyers are still second homeowners and retiring baby boomers that have likely exhausted their search of existing home inventory and decided to build their dream home.”
A willingness to concede on precise location of a property in Jackson Hole can garner many great options in the valley. It also frees up money to work with in building a custom home. With more and more folks adjusting their sights we predict a strong uptick in Jackson Hole construction and real estate sales.
The Jackson Hole construction market is looking very good coming into the summer of 2013. Take time researching the area you want to live in and don’t hesitate to take the plunge – the market is competitive and lots are moving quickly. Christie’s International Real Estate and Jackson Hole Real Estate Associates are two incredible resources to tap for property information.