Market Information

Although November is typically the slowest time of year, Graham4 had a busy month and is seeing activity on our listings. The key to attracting prospective buyers in our current market is aggressive pricing. Sellers have recognized that we are in a buyers market and that they need to be receptive to offers at or below 2006 pricing. With a 74% increase in inventory from last year, buyers are taking advantage of the competitive market and motivated sellers; the result is that purchases are being made at a value.

The question on many buyers and sellers minds is; "where is the bottom?" In a recent real estate summit involving Jackson Hole real estate professionals, local banking professionals and appraisers, we discussed this very topic. Finding the bottom is a matter of generating a volume of sales (spurred by price reductions) at significant discounts. This will reduce the inventory and will begin to build buyer & seller confidence again in our market. As inventory decreases and buyer confidence increases, well-priced homes will sell much closer to their asking prices and some homes may even receive multiple offers thus signaling a rise from the bottom.

Seller's are accepting that we are in a buyer's market and many are more receptive than ever to negotiating price or terms. Sellers wanting to sell and buyers willing to make offers to get a deal seem to point to the beginning of the bottom.

On the banking front, we continue to receive good news in terms of financing from our local institutions. If you are contemplating a purchase in Jackson Hole but have been wary regarding the condition of the banking industry; contact us today for information regarding our local banks and their lending programs that enable qualified buyers to take advantage of this dynamic market.