3 Creek Ranch, Jackson Hole Real Estate, Wyoming Real Estate, Jackson Hole Private Golf

First Quarter 2010 Real Estate Update

As this year’s ski season comes to a close, mountaineers were surprised by a late storm which dropped almost 25” in the high country. Early signs of spring are peaking through as I look out my office door to see most of the golf course clear of snow. Dan Tolson, Golf Course Superintendent, and his team are getting an early jump on the season which has seen the golf course retire from its winter hibernation in great shape.

The local real estate market also seems to be coming out of hibernation in what has been an uncertain economic year. First quarter of 2010 has shown meaningful improvement as compared to 2009 with the actual number of transactions close to the height of the market. Dollar volume was up substantially with over $100 million in sales compared to less than $50 million first quarter of 2009. 3 Creek Ranch Cabin Homes are within the most notable segment of $3,000,000 plus. These are great indications as we enter the selling season at the Ranch. Winter showing activity has been strong as potential buyers look forward to experiencing a 3 Creek Ranch Summer.

We saw a strong close to 2009, given the economy with 12 closed transactional sides at the Ranch. These sales included Ranch Tract 5, Estate Site 40, Cabin Site 119 and three Cabin Homes. Prices stabilized toward the end of the year with an upward trend in 2010. Timing is key, and buyers will have opportunities this year on properties that sold prior to public release and a few price points we haven’t seen since 2005.