Rotarian Brian Siegfried organized a panel from our Jackson Hole real estate firms. The panel included Katie Colbert Brady (residential) Michael Pruett (commercial) and Dan Visosky (vacant land).
It was a data based presentation with some very important numbers. Sales transactions peaked in 2015. There was a rush of sales at the end of last year; One hundred and sixty million dollars of real estate was sold in the last two months of 2017.
Commercial real estate follows residential sales. There were $146 of commercial real estate sales in 2017, 56$% of that value was in the town of Jackson. The demand is for office and restaurant space.
Dan noted that there were 75,000 acres of non-government lands in Teton County; 32,000 has been developed, 23,000 is in conservation easements, and 20,000 is undeveloped. The highest value of a block of land was $17.9 million for 72 acres in Bar-B-Bar. Lots in Shooting Star were listed at $3.8 million for 1.4 acres. Construction costs were approaching $500 per square foot.
Thanks Rotarian Brian and panelists.