N EW S Wednesday, January 20, 2016
185 West Broadway Jackson Hole, WY (888) 733.9009
www. jhsir .com
R E A L ES TAT E
®,™ and SM are licensed trademarks to Sotheby’s International Realty Affiliates LLC. An Equal Oppor tunity Company. Equal Housing Oppor tunity. Jackson Hole Sotheby’s International Realty is Independently Owned and Operated.
INVENTORY DOWN, SALES UP IN TETON VILLAGE
Key metrics and inventory levels reveal strength of micro-market by Brandon Spackman, Associate Broker
Overall, the market at Teton Village is very strong with inventory levels down 20% from a year ago. Sales volume was up 68% compare to 2014 and unit sales increased by 26%; most of the activity was focused on the condo/townhome market and the newest development, Shooting Star. Shooting Star captured a majority of the high-end sales at the ski area for both homes and land in 2015. The developers are building additional Cabins and Lodges on their single-family home sites due to strong demand for a pre-built product. The majority of these were reserved prior to breaking ground for construction. The developers are also starting on two large spec homes to capture the current demand. The club added 56 new golf members in 2015 and there are only 45 memberships remaining. For those buyers looking to be right on
Pictured Above: Views of the Jackson Hole Mountain Resort’s iconic aerial tram and Corbet’s Couloir from a front line Granite Ridge Listing.
the slopes of the Jackson Hole Mountain Resort, Granite Ridge and the Four Seasons have been the focus of recent activity. Current offerings include the last remaining undeveloped front line lot in Granite Ridge listed at $4,750,000. Of the four pre-built options on the MLS in Granite Ridge, two are currently under-contract. Current single-family offerings within Teton Village range from $3.095M to $12.750M, and include a six thousand square foot ski-in/ski-out home recently listed for $9.5M. Additional information and offerings on Private Residences and the Residence Club at the Four Seasons Resort Jackson Hole can be obtained from the Four Seasons Team, located across from the Westbank Grill. Jackson Hole Sotheby’s International Realty maintains five offices throughout Teton Village.
NEW OWNERSHIP USHERS IN NEW YEAR AT BROKERAGE
Sotheby’s International Realty Affiliate purchases local office
“The acquisition will provide our from fifteen agents to ninety. brokerage with additional resources and leadership from a dynamic couple with a “We are thrilled to award Jeff and passion for the real estate industry, and an by Staff Writers Olivia the opportunity to bring their understanding of what makes the Sotheby’s Jackson, WY – Jackson Hole Sotheby’s International Realty model unique,” says unique client- and agent-centric leadership to Jackson Hole...” International Realty announced its Clinton. acquisition by Jeff and Olivia Hornig, The Hornigs have owned and operated -Francis Santangelo, Vice President of Global effective as of December 31, 2015. the Lakes Sotheby’s International Realty Operations for Sotheby’s International Realty “We are thrilled to award Jeff and Olivia brokerage in Minnesota since 2008 where Affiliates, LLC. the opportunity to bring their unique client- they have grown the brokerage’s presence and agent-centric leadership to Jackson Hole and Sun Valley,” said Francis Santangelo, Vice President of Global Operations for Sotheby’s International Realty Affiliates, LLC. The specific terms of the sale remain private, ownership of Jackson Hole Sotheby’s International Realty as well as the Sun Valley affiliate office has transferred to the Hornigs. Local management of each office will remain unchanged, with Donna Clinton as managing broker and chief operating officer for the Jackson Hole office and Darlene Young as managing broker for Sun Valley. The local real estate brokerage began its history in the valley as Jackson Hole Realty in the 1930’s and was purchased by Sotheby’s International Realty in 2004 after nearly seventy years of growth and mergers. The brokerage was purchased in 2010 by the Huntsman family, known locally for their luxury golf development in Driggs, Idaho and the Hunstman Cancer Institute in Salt Pictured Above (L to R): Jeff Hornig, Francis Santangelo and Lisa Piccardo of Sotheby’s International Realty Affiliates, LLC., Olivia Lake City, Utah. Hornig, Michelle Davis, and Jacob Smith.