Our real estate experts have pulled and analyzed the following data, providing insight into the past quarter and historical data that helps identify trends in the market. For a deeper understanding of these numbers, our local team in Star Valley is always available to discuss further.
Author: Lisa Edgeworth
Q1 2023 Teton Valley Market Report
Welcome to our Q1 2023 Teton Valley Market Report. Our local team has pulled and analyzed the following data, providing insight into the past year and historical data that helps identify trends in the market. For a deeper understanding of these numbers, our local team here in Teton Valley is always available to discuss further.
Q1 2023 Jackson Hole Market Report
Welcome to our Q1 2023 Jackson Hole Market Report! Our local team has pulled and analyzed the following data, providing insight not only on the past year but historical data that helps identify local trends in the market. For a deeper insight into these numbers, our local team here at Keller Williams Jackson Hole is always available to discuss.
The kitchen is the heart of the home. Invite others into these listings that lend themselves to springtime gatherings. We took inspiration from each home and compiled a list of seasonal meals sure to impress your guests.
680 Pine Drive
Cheese and Wine Night
This quaint kitchen is perfect for a girl’s night! Pull a bottle from the built-in wine storage and create a cheese and fruit board for a simple and crowd-pleasing snack. Make a stop at Bin22 or Spirit & Spice for unique beverage and snack choices that will set your charcuterie above the rest.
1449 Buckskin Loop
Something about the modern farmhouse details and light wood of this Victor listing are screaming peach cobbler. Though peaches hit their peak in late summer, this fruit is a fun way to ring in warmer months, especially in such an effortless dessert. Fingers crossed fresh peaches hit our local farmer’s markets soon.
6900 S Paintbrush Trail
Buratta Salad with Watermelon
This renovated kitchen is ready to be broken in and the beautiful stone and bright white cabinets lend themself to a burrata salad with watermelon. This is not your average salad – creamy burrata is a rich base for mint and sweet watermelon making it a refreshing summer selection.
250 Salt River Ranch
The wooden cabinets and warm tones in this listing make us feel right at home. Put the artisanal oven to work with a roasted chicken and mashed potato meal. Imagine aromas of Italian seasoning, chicken and butter filling this open living space. Jackson Hole Buffalo Meat and Teton Valley Meats have plenty of seasoning and fresh meat to locally outfit your meal.
1430 N Second St
Just add some spinach dip, a couple of friends and some background music and you have the makings of a cozy night. Plate crackers, french bread and vegetables to evolve this dip into a variety of tasty bites.
4250 S Rockmore Road
Salmon and Asparagus
A luxury kitchen calls for a classic meal. In this kitchen, salmon and asparagus make a perfect light meal for spring. Take the meal outside and enjoy the warmer weather on your patio, creating a perfect Wyoming evening.
As you search for your next home, imagine building a life there. In your perfect place, who is over? What events will you host? How might outdoor dining change your lifestyle? A home is more than where you live – find the right one with Keller Williams Jackson Hole.
Last weekend’s annual Keller Williams conference in Anaheim California shed some light on the volatile national real estate market. In his State of the Housing Market address on Sunday, Gary Keller, the founder of Keller Williams Real Estate, provided a comprehensive update comparing historical trends in the real estate market and even made some predictions for 2023.
For many, 2022 felt like one of the worst years on record for real estate, yet historical data shows the market is nowhere near the lows of previous market cycles. In fact from a market value standpoint, 2022 was still one of the highest on record in sales volume. Why? Home appreciation has skyrocketed, but there is more to the story.
In the United States, the total number of home transactions dropped a significant amount, from 6.1M in 2021 to 5M in 2022. We haven’t seen a level this low since 2014.
However, rising home appreciation is greatly impacting the national real estate economy. Nationally, the long-term trend in home appreciation is 4% annually. Yet home prices increased significantly, 12% above the 4% trend line in 2022.
This drove the total market volume to a near-record high of 2.53 trillion. And surprisingly, the total volume of the real estate market in 2023, is projected to reach $2.13 trillion even though appreciation is expected to decline by 1.0 percent.
But there are challenges ahead. In the last 12 months, mortgage rates have risen sharply as the Federal Reserve tries to control inflation and avoid a dramatic recession. This is putting a significant damper on home sales when last year’s interest rates could be found below 3% and now buyers are faced with a 6% rate. But 3% is not the norm. In fact, the historical average interest rate from 1972 through 2022 is 7.81%. The historical average interest rate from 1990 through 2022 is 5.97%.
Another challenge is affordability and inflation. Last year, affordability spiked to well above the long-term average putting homeownership out of reach for many. Used as a gauge of the economy’s health, in 2022 the Gross Domestic Product was down significantly from 2021 indicating that the attempt to cool the economy with higher rates is working, yet unemployment remains historically low.
For a deeper dive into this data, feel free to contact a KWJH agent to discuss this report, along with the local market trends as we head into 2023.
Click here for the full deck.
New Year, New Home
The new year often brings about new goals and a renewed passion for life. Even if your resolutions have fallen off the wagon, this year, invest in your space and resolve for a better home. Through cleaning, decluttering and creating a mindful space, you can enter this season with a fresh perspective.
Resolve to: cultivate a clean home
Life gets busy and cleaning gets away from us all. During the winter, it’s especially important to stop seasonal illness with a regular cleaning schedule. One of the easiest ways to do this is by integrating cleaning into your everyday routine! Wiping down the bathroom counter while brushing your teeth and cleaning as you cook consolidates the cleaning process and adds up to a major difference in your home.
Resolve to: better the planet
When it comes to household products, there is rising awareness of toxic chemicals and wastefulness. Be mindful of the toxins you’re bringing into your home and consider making the change to natural cleaners, detergents and products. Invest in long-lasting supplies like reusable cloths and glassware to replace paper towels and flimsy plastic containers and you’ll be on your way to sustainable living.
Resolve to: clear your space, clear your head
Marie Kondo rose to popularity a couple of years ago with her advice on decluttering and minimalism. Kondo suggests that you remove items that don’t “spark joy” in your life as a way of pairing down your possessions. By reducing the items in your space, you remove distractions and clutter and make a more welcoming home. If you find yourself holding on to random goods, lean into modern style and give everything a home in a designated basket, drawer or decorative box.
Resolve to: do more with decor
Homeowners all around are finally breaking out of trends and embracing the personal style of their homes. Whether it’s texture, color, print or art that speaks to you, your home should be a reflection of who you are and how you want others to feel in your home. Woven blankets and neutral tones evoke a calm and clean environment while bright colors and bold art bring energy to visitors. This year, tune into yourself and design the home your heart desires.
Resolve to: have fun with furniture
Spaces have just as much an impact on our behavior as we have on them so, this year, consider the personality of your space and your goals for its use. If you want guests to feel cozy in your home, integrate muted cool tones, (blue, lilac and green) to generate energy, consider bright colors. If you want to create an area for gathering, orient livingroom furniture to face inward rather than toward the television, creating an intentional conversation space. Designing a home with intention starts with a vision of what your home experience should be and mindful choices now will start a year of new enjoyment.
Home Image: 1430 N Second Street – Contact Cindee George for more information.
2022 Star Valley Market Report
Our local team has pulled and analyzed the following data, providing insight into the past year and historical data that helps identify trends in the market. For a deeper understanding of these numbers, our local team in Star Valley is always available to discuss further.
2022 Teton Valley Market Report
Welcome to our 2022 year-end market report for Teton Valley. Our local team has pulled and analyzed the following data, providing insight into the past year and historical data that helps identify trends in the market. For a deeper understanding of these numbers, our local team here in Teton Valley is always available to discuss further.
What’s Trending in 2023?
Year over year, trends in fashion and interior design carry us into 365 days of new memories and style. Looking toward 2023, we have seen shifts in colorways and design that will make this year one to remember.
Pops of Color
Last year, saw a rise in moody interiors, earthly tones and dark wall colors but, while this trend continues into the new year, bright pops of color are to be expected.
Pantone’s color of the year is Viva Magenta, a bright pinky hue. Among neutrals and dark tones, this burst of color will add energy to the space and make quite a statement. Because of this impact, we suggest using bold colors in open living spaces rather than the bedroom or small rooms.
If you’re looking to integrate color into your home, start with accents, pillows, and throws to play with the style and, as we approach spring, welcome more color and lean into this burgeoning trend.
Mid-century modern furniture and decor have captured the attention of stylists everywhere. Continuing into 2023, classic mid-century design with rounded lines, dark natural woods, and vibrant colors have gone mainstream.
Replicate this look by finding a bold furniture piece to style around or introducing geometric accents or lighting to a space. A total renovation is not necessary with pieces like these local finds:
Create a space that is curated not cookie-cutter. Waste-reducing practices like antiquing and repurposing have led to a trend of mixing furniture and styles. Rather than surrounding a table with six identical chairs, a wooden bench can now find itself across the table from a velvet dining chair and the styling opportunities are nearly endless.
With this trend, it is a good idea to consult a designer or stylist who will help you balance found and new items to look elevated and intentional rather than hodge-podge. Keep in mind that local antique stores are a great source of material and inspiration to accompany new purchases.
Check out Home Again JH, Fighting Bear, or Eclectic Consignment for fun local finds.
When it becomes hard to keep up with the trends, you can’t go wrong with timeless staples like leather, solid wood and neutral tones. Leather goods will wear with time and age beautifully over the years, solid wooden furniture is hard to find but resilient to damage and grounding with it’s dark tones and wood grain and neutral tones can be evolved with the addition of colors and accents. As trends come and go, evolve your space and welcome creativity through style – a new year and a new look.
Home Image: 185 N Glenwood
2022 Jackson Hole Market Report
As the world’s largest brokerage, Keller Williams dominates the landscape in real estate with its global reach. With a marketing platform that touches hundreds of thousands of potential clients each day, our clients can be assured that their listings are reaching qualified buyers around the globe.
Yet, what matters most when selling and buying real estate is in-depth market knowledge, market history and trends that only informed, local real estate professionals can provide. Our Keller Williams office is the fastest growing brokerage in Jackson Hole. Why? We are locally owned with seasoned local leadership and a dedicated support team. Our agents all share a passion for empowering their clients with up-to-date information and guidance that allows them to make the best real estate decisions possible.