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While capping the size of stores well below the threshold for typical big-boxes like The Home Depot, the town continues to actively explore the possibility for what some would call a boutique-style Home Depot, as well as mixed retail, with housing being built in conjunction with such a store. That concept is central to the concept of New Urbanism that has many adherents in the Carbondale area.
Jackson Hole joins $1 billion crowd
JACKSON HOLE, Wyo. Even more than in the Vail, Aspen, and Summit County markets, real estate sales in Jackson Hole exploded last year. For the first time, total sales surpassed $1 billion. Thats a 46 per cent increase from the previous year.
By contrast, sales volume in Pitkin County, where Aspen is located, increased 40 per cent, Colorados Summit County increased 30 per cent, and the Eagle Valley, where Vail is located, increased 26 per cent.
In an interview with the Jackson Hole News & Guide, Clayton Andrews, chief operating officer of Sothebys International Realty, called it a huge milestone. "It allows Jackson Hole to be on par with some of the other resort sin the Rocky Mountains," he said.
The Vail-area sales were $2.8 billion, the Aspen-area sales $2.4 billion, and the Summit County sales were $1.47 billion. In contrast, the Telluride-area market hit $770,000.
As in the other markets, the story seemed to be one more of increased prices than increased sales. A study prepared by David Viehman of Jackson Hole Real Estate & Appraisal reported a 78 per cent jump in sales of properties costing more than $1 million. Of those, 34 sold for more than $5 million. The median price of single-family homes in Teton County, which is where Jackson Hole is located, increased by 20 per cent. The new median is $750,000.
The most expensive sale was a $12 million purchase of a 3,800-square-foot house with a guest house on 100 acres. At years end, the least expensive home on the market was just a nose under $500,000.
Who is buying the homes? Leslie Peterson, an associate broker at Sothebys, told the newspaper that her buyers were not rushing. "I do think were seeing the leading edge of the baby boomers," she said. "Theyre very smart, for the most part, and not impatient. Its often a two-, three-year process They come back in different seasons."
Those buyers, she said, can be classified by their locational druthers. "Youve got your crick-bottom people and your ridgetop people," Peterson said.
Consistent with some other resort valleys of the West, the hottest action seems to be in the pretty semi-rural countryside of exurban Teton County, not in the city of Jackson or even particularly at the ski area base village. Currently, Jackson has 47 per cent of the countys population, but within a decade expects to have only 40 per cent of the population, even as the total population grows.