An INSANE Market!

[PEERless]

Jackson Hole, Wyoming, is insane! There's no two ways about. So far, it seems to be bombproof. Many second homes for actors, politicians, and the like. Lemme give you a taste:

Population: 14,810
Altitude: 9,280 feet
Median Home Price: $1,929,000
12-Month RE Sales: $729,829,435 (433 Properties, 143 Days on Market)
Current Inventory: $1,975,629,345 (714 Properties)
:coco::smx4:
Anybody else live in an insane market?

 

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[Peter2]

Anybody else live in an insane market?

Yes.

<-------

 

[Yankees338]

Yeah, same here in the North Jersey suburbs of NYC.

Peter, there are A LOT of people from my area in the Boca/Delray and Palm Beach areas, too.

 

[Peter2]

Peter, there are A LOT of people from my area in the Boca/Delray and Palm Beach areas, too.

Real estate prices have gone down a lot all over Palm Beach county, but homes in the town of Palm Beach has continued to increase in value.

 

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[Yankees338]

Real estate prices have gone down a lot all over Palm Beach county, but homes in the town of Palm Beach has continued to increase in value.

From what I saw, even during the boom, Boca/Delray prices were still substantially lower than up here in NJ. Boca/Delray seems pretty similar to our area in NJ, so I guess it makes sense to move down there for retirement -- warm weather, lower COL, similar lifestyle.

Guess that's why my parents can't wait for retirement.

 

[PEERless]

Annual appreciation has been only about 2% this year.

 

[AshanD]

First thing that popped out was the asking price, then I saw the square footage. Coming from CA I did not know tat was possible!

 

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[PEERless]

^Square-footage?

 

[CardinalsFan]

I don't know much about RE but where I live (Concord, NC ) the market is really blowing up. New neighborhoods left and right, and the property values have increased a ton

 

[zaiteku]

my mom bought a property in Wyoming a while ago. At the time I was like "what the @#%$ are you thinking?!, have you done the due diligence?!" She quietly said..."Yes".

Oh what a fool I have been...

 

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[PEERless]

^Well, depending on where she bought, you may still be right. Jackson is an isolated example, bolstered by enormous wealth and epic skiing. The rest of the state is desert and double-wides. ...Except some communities where oil and gas have created some overnight millionaires.