It’s a Buyer’s Market

What is the silver lining in the Jackson real estate cloud?  It’s a buyer’s market.  The rocketing prices of houses on the market of the past are starting to come back to earth a bit, with sellers realizing that they can’t sell an overpriced home.  This housing cooldown should actually be considered more of a market correction.  Even through this sluggish market, Real Estate of Jackson Hole has enjoyed record listings with their share of the market on the rise.  Those houses listed under $1 million are affected the most.  However, the median price for a home in Jackson has increased 2% from last year to $1.2 million.  The “upper-end buyers” (those in the $1 million or more range who account for 60% of local Jackson sales) continue to pull their money from other resources and put it in local Jackson real estate.  Jackson Hole is still a beautiful place to live.  So, good news for those buyers in the market for a home…the real estate world is your oyster.  Take a bite!