Jackson Hole Real Estate Report | 2023 Mid-Year

28th anniversary

2520 TRADER ROAD - PAGE 4

Q2 2023

INVENTORY IS ON THE RISE, AND SO ARE PRICES DATA-DRIVEN REPORT FOR THE FIRST SIX MONTHS OF 2023

Introduction While the overall number of sales is down 32%, inventory levels across the board are on the rise.

Overall inventory is up 34% with single-family home inventory up 13%, townhome/condo inventory up 44%, and residential vacant lot inventory up 76%. Normally, rising inventory puts pressure on Sellers to lower their prices, but not in 2023. The average and median sale prices for homes, townhome/condos, and residential vacant lots are all up and all breaking records for the end of Q2. While 22% of the current listings on the market have reduced their list prices since inception, Buyers are still willing to pay more than last year due to the lack of inventory.

It’s important to point out that the 154 overall sales to date is the third lowest number of sales in 30 years.

Besides the lack of inventory, this dramatic decrease also comes from issues not necessarily locally driven.

Home mortgage interest rates nearly doubled since COVID, and inflation is still high. Locally, the lack of affordable homes and condo/townhomes under $1 million has cut the number of Buyers by more than 80%.

For example, just two years ago, the first six months of 2021 registered 112 sales under $1 million. By contrast, in 2023, we had a total of 18 sales under $1 million in the first six months. Step back to 2013, and there were 220 sales under $1 million in the first six months. NOTE: With interest rates doubling, 71% of all sales in 2023 have been cash. Interest rates have also put a damper on remodeling projects as Buyers are using their extra cash to purchase.

To subscribe to our Jackson Hole Report, please email us at david@jacksonholereport.com, or visit our website at JacksonHoleReport.com.

of the normal available inventory for the end of June.

Regardless, it’s good news for Buyers when inventory is on the rise.

Looking ahead, we continue to see a softening of demand with inflation, rising interest rates, and lack of inventory in the lower price ranges. However, we are starting to see more active Buyers in the valley.

Inventory is increasing and prices have started to moderate into a slower growth curve. While inventory levels are still at historic lows, without more Buyers in the market, some Sellers will have to lower their expectations if they want to close in 2023.

The Jackson Hole Report is the most widely distributed and anticipated quarterly newsletter in Jackson Hole.

To guarantee the most successful outcome in your next real estate transaction, call us today.

Available inventory at the end of June 2020 registered 323 overall listings, and today, we only have 224.

NOTE: Just three months ago, at the end of Q1 2023, there were only 132 active listings overall. That’s a 70% increase in just three months. While the increase in listings is expected this time of year, it’s still only 60%

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JACKSON HOLE REPORT Q2 2023 jacksonholereport.com

DATA-DRIVEN REPORT FOR THE FIRST SIX MONTHS OF 2023 The Jackson Hole Report is the oldest, most accurate, and comprehensive real estate market report in Teton County, Wyoming. We derive our statistics from a privately maintained database that tracks every single sale, not just the transactions reported through MLS. NOTE: Only 62% of sale prices valley-wide in 2023 were reported to MLS.

Overall Market When compared to the first six months of 2022, the overall market continues to decrease with 32% fewer sales and 34% lower dollar volume.

In contrast, the median sale price is up 6% (record breaking). The segment where the number of sales decreased the most was residential vacant lots, down 30% when compared to Q2 2022. While inventory levels are still at historic lows, the lack of inventory under $1 million will continue to slow the number of sales in the second half of 2023. NOTE: The 154 overall sales to date is the third lowest number of sales in 30 years.

Geographically, the Town of Jackson experienced the most activity (54 sales), accounting for 35% of all sales in the valley and 20% of the total dollar volume ($132 million). NOTE: The only area of the valley to experience an increase in number of sales and dollar volume was South of Wilson where sales were up 60% and dollar volume was up 99% when compared to the first six months of 2022. The increase in dollar volume was a direct result of three sales over $20 million.

OVERALL FACTOIDS • There are currently 12,356 free-market deeds (not deed-restricted or timeshare) in Jackson Hole. They break down as follows: Westbank (3,717); Town of Jackson (4,130); North of the Gros Ventre River (1,443); and South of the Gros Ventre River to the County Line (3,066).

• Reflecting a 30% increase since pre-COVID, there are 2,381 deeds worth at least $5 million (luxury properties) throughout the valley, and the Westbank is home to almost half with 1,183 deeds.

• Due to the Great Recession, overall inventory peaked in 2010 at 842 available properties. We have experienced a continued decline in inventory since then with overall available properties showing 224 listings.

In 2020, prior to COVID, overall active listings hovered around 375.

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The overall number of properties under contract has declined with 42 properties currently in negotiations (down 28%). Following suit, the average list price is down 17% to $3.5 million. All segments experienced a decrease in the number of properties under contract with the most being the condo/townhomes segment which was down 52%. The decrease in this segment is directly related to the lack of inventory under $750,000 with only four townhome/condos currently listed in that range.

Overall inventory of active listings increased 34% when compared to Q2 2022, marking the third lowest number of overall active listings in over 50 years at mid-year. Single-family homes increased 13%, condo/ townhomes went up 44%, and vacant residential lots went up the most at 76%. Homes for sale under $1 million are nonexistent. The least expensive home is currently priced at $1.13 million. NOTE: On July 1, 2011, there were 104 homes listed for under $1 million with an average list price of $2.795 million versus today’s average list price of $5.26 million.

JACKSON HOLE REPORT Q2 2023 jacksonholereport.com

The Luxury Market—properties priced at $5 million and above—registered 33 sales (down 44%). The hottest segment overall was between $5 and $10 million where 19 sales closed. Single-family homes claimed 73% of luxury sales (24 transactions) with 33% of those on the Westbank. Luxury listings under contract are down 30% with only seven sales pending. NOTE: There are 74 properties on the market in the $5+ million price range, up 48% from Q2 2022. The most expensive overall listing is a 9,696 sq. ft. log home on a 4.53-acre parcel across from Teton Village. With Lake Creek running through the property and 360-degree views, it’s listed for $40 million.

To learn more about the Jackson Hole Luxury Market, please visit JacksonHoleLuxuryReport.com.

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(307) 690-0621 / group@jacksonholereport.com LEARN MORE AT 2520TRADER.COM

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JACKSON HOLE REPORT Q2 2023 jacksonholereport.com

Single-Family Homes Demand for single-family homes decreased 22% with 75 sales so far in 2023. In contrast, the average and median sale prices are up 20% and 12%, respectively.

Both setting records for mid-year, the average sale price was $5.62 million, and the median sale price was $3.345 million. The decrease in overall home sales can be directly linked to the lack of affordable inventory as the least expensive home currently on the market is $1.13 million. NOTE: In the first six months of 2023, 24 homes (32%) sold for over $5 million. Also noteworthy is NO homes sold in this timeframe for under $1

The number of single-family homes under contract is up 35%, and the dollar volume is up 18% to $77 million. In contrast, the average and median list prices decreased 13% and 11%, respectively, when compared to Q2 2022.

With the dearth of available inventory under $2 million, the $2 to $4 million segment is now the most active in the valley; 39% of the homes currently under contract fall into this segment.

million. Compare that to 2018 when 42 homes sold for under $1 million in the first six months.

Least & Most Expensive

LISTING ID 22-2835

LISTING ID 23-1275

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Currently, the least expensive single-family home, located South of Jackson, is listed for $1.13 million. The .8-acre parcel features a 1,048 sq. ft., twobedroom, one-bath home built in 2000.

The most expensive home, located north of Wilson, is listed for $40 million. The main home, built in 1996, has 9,696 sq. ft. with four bedrooms and seven baths. The log home sits on 4.53 acres with Lake Creek running through it, and has a geothermal heating and cooling system.

The number of sales in the luxury, singlefamily home market ($5+ million) was down 25%. Of the 24 sales, 11 were priced at over $10 million with three of those closing for over $20 million. NOTE: The number of luxury listings is up 37%.

The inventory of listed homes increased 13% to 93 listings with none listed for less than $1.13 million. Following suit, the average and median list prices are again breaking records, up 23% and 11%, respectively. This is due in part to 52% of the current listings being considered Luxury (priced at over $5 million); a 37% increase when compared to Q2 2022.

Current available inventory breaks down as follows: five homes between $1 and $2 million (down 37%); 16 homes between $2 and $3 million (up 23%); 26 homes between $3 and $5 million (no change); 25 between $5 and $10 million (no change); and 21 over $10 million (up 91%).

JACKSON HOLE REPORT Q2 2023 jacksonholereport.com

SINGLE-FAMILY HOME FACTOIDS • Currently, there are 6,087 free-market, single-family homes (not deed-restricted or timeshare) in Jackson Hole.

They break down as follows: Westbank (1,757); Town of Jackson (1,418); North of the Gros Ventre River (711); and South of the Gros Ventre River to the County Line (2,201).

• There are 1,639 luxury, single-family homes worth at least $5 million throughout the valley. Exactly half of these homes are located on the Westbank.

• There are 178 homes in the valley situated on 35+ acres.

Hire us as your Advocate. If you are looking for a home in today’s tight inventory market you need to hire us as your advocate. We will find what you are looking for, and then educate and prepare you to win at today’s real estate bidding wars.

Condos/ Townhomes Condo/townhome sales decreased in the first six months of 2023 with 49 sales (down 26%). In contrast, the average and median sale prices increased 2% and 7%, respectively, when compared to 2022.

NOTE: The average and median sale prices are both record-breaking for mid-year sales.

Were you shocked when you received your 2023 property tax estimate? If you would like an assessment of the current value of your Jackson Hole property, please contact us for a free comparative market analysis by calling 307-690-4004 or emailing david@jhreport.com.

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The number of sales under $1 million is up 27% (14), whereas the number of sales over $3 million is down 18% (14). The hot spot was the Town of Jackson with 31 sales, or 63% of the sales valley-wide.

The number of condos/townhomes under contract has decreased 52% with 10 properties currently in negotiations. Following suit, the average and median list prices were down 36% and 55%, respectively, and the dollar volume decreased 69%.

The decrease in the average and median list prices reflects an increase in listings under contract for less than $1 million (up 300%).

JACKSON HOLE REPORT Q2 2023 jacksonholereport.com

CONDO FACTOIDS • Currently, there are 3,270 freemarket condos/townhomes (not deedrestricted or timeshare) in Jackson Hole. They break down as follows: Westbank (1,147, with 683 in Teton Village); Town of Jackson (1,745); North of the Gros Ventre River (92); and South of the Gros Ventre River to the County Line (283).

• There are 157 luxury condos/ townhomes worth at least $5 million throughout the valley. All are within Teton Village, except for fifteen in the Town of Jackson.

Available inventory of condos/townhomes has seen a generous increase of 44% (56 listings). NOTE: In 2009 the market peaked with 214 available listings, and from 2015 to 2020 the average number of listings mid-year was 75. In contrast, the average and median list prices were down 18% and 30%, respectively. Based on mid-year results, current inventory offers only seven months of condo/townhome stock.

NOTE: Of the current available inventory, 36% is listed for less than $1 million, with the least expensive at $650,000—a 624 sq. ft. one bedroom in the Town of Jackson.

Hire us as your Advocate. If you are looking for a condo or townhome in today’s tight inventory market you need to hire us as your advocate. We will find what you are looking for, and then educate and prepare you to win at today’s real estate bidding wars.

Vacant Land Single-family vacant lot sales decreased in the first six months of 2023 with 21 sales (down 30%). Following suit, the dollar volume was down 17% when compared to mid-year 2022. In contrast, the average and median sale prices were up 68% and 39%, respectively—both record breaking. NOTE: The Luxury Market ($5+ million) had five sales over $5 million (down 17%), and three over $10 million.

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Single-family vacant lots under contract: Seven properties are currently in negotiations (down 36%), with the least expensive being $650,000. One is listed for over $5 million.

Available inventory of listed lots increased by 67%, and dollar volume was up 49% from Q2 2022. Following suit, the median list price increased 19% ($3.35 million - record breaking) when compared to 2022. The increase in the median list price reflects the lack of inventory under $1 million (only 4). NOTE: Demand is slowing, so we do not expect appreciation to continue in 2023. Based on mid-year results, there are currently 19 months of available inventory. Current available inventory breaks down as follows: Four lots under $1 million; 11 lots between $1 and $2 million; 12 lots between $2 and $3 million; 14 lots between $3 and $5 million; 13 lots between $5 and $10 million; and nine lots over $10 million.

JACKSON HOLE REPORT Q2 2023 jacksonholereport.com

VACANT LAND FACTOIDS • Q2 2023 registered the third lowest number of available single-family lots in 36 years.

• Currently, there are 1,103 platted and vacant residential single-family lots under 35 acres in Jackson Hole. Of those, only 379 (34%) are located on the Westbank.

• Currently, there are 246 platted and vacant residential single-family lots over 35 acres in Jackson Hole that are not under any type of a conservation easement.

Hire us as your Advocate. If you are looking for vacant land in today’s tight inventory market you need to hire us as your advocate. We will find what you are looking for, and then educate and prepare you to win at today’s real estate bidding wars.

Prefer to listen?

Tune into our Podcast at jhreport.com for a current and more in-depth conversation about the real estate market. Be sure and listen to our various other podcasts that cover an array of subjects including Buyer and Seller tips, home inspections, visiting with a local mortgage broker, etc.

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JACKSON HOLE REPORT Q2 2023 jacksonholereport.com

2745 TR A D E R ROA D L IST P RIC E: $1 2, 250,000 Perched high above the valley floor, this property boasts some of the most breathtaking views in all of Jackson Hole, including the Grand Teton, the Sleeping Indian, and the Snake River Valley. One of the most awe-inspiring properties in Jackson Hole, this residence, spread across an expansive 4,268 square feet, boasts four bedrooms, three and a half baths, unparalleled vistas, seclusion, and tranquility.

(307) 690-0621 / group@jacksonholereport.com LEARN MORE AT 2745TRADER.COM

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JACKSON HOLE REPORT Q2 2023 jacksonholereport.com

Jackson Hole Luxury Report Market dynamics have changed drastically during the 28 years we have published the Jackson Hole Report. During our tenure tracking real estate, we have marveled at the growth of the high-end market and came to realize this elite segment warranted special attention. For this reason, in 2013 we created the Jackson Hole Luxury Report, a limited-edition newsletter focused exclusively on high-end properties, which, until recently, we defined as homes priced over $3 million. With the luxury bar raised so dramatically in 2020, going forward the Luxury Report will only focus on sales above $5 million.

The purpose of this limited-edition report is to provide high-end Buyers and Sellers with a clear understanding of the local luxury landscape. Building on the analysis of the Jackson Hole Report, we delved more deeply into the dynamics of the market above $5 million. Since 2013, each semi-annual edition has brought great response and feedback from our readers. Some seek our vast knowledge of property values for estate planning or when considering selling. Others need more information about the overall Luxury Market. Many existing and future property owners also request more information about real estate related services such as caretaking, asset management, and villa rental opportunities.

The singular nature of luxury listings in Jackson Hole requires that each sale be examined in great detail, and truly special properties must be considered incomparable. When pricing this type of property, you need a luxury data specialist to ensure success. As a courtesy to all clients, we provide a free confidential market analysis of their distinctive property and continue to update the current value of the property for estate planning and/or trusts.

IT ’S OFFICIA L !

We are pleased to announce that our signature film of 165 Huckleberry won the Best sales and marketing campaign for a luxury property 2019. The Inman Golden I Club is nothing less than the highest honor in luxury real estate. Since it’s launch in August, the film has had over 45,000 views. Contact us to see if your property qualifies for this marketing initiative. It isn’t always just about the price point as many unique properties in the area are also a good fit.

While the Luxury Report focuses on luxury homes, condos, and single-family vacant parcels, our mailing list considers a wider lens and includes select commercial properties, large tracts of land, and ranches in Jackson Hole. Currently there are 2,380 properties worth $5+ million in Jackson Hole on our mailing list.

If you would like to know what your luxury property is worth in today’s market, please contact Devon Viehman at (307) 690-0621 or at devon@jhreport.com To sign up for the digital version of the Luxury Report, visit JacksonHoleLuxuryReport.com .

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View the video and property at 165Huckleberry.com.

JACKSON HOLE REPORT Q2 2023 jacksonholereport.com

What Is a Comparative Market Analysis?

What is your home worth?

A comparative market analysis (CMA) estimates a property’s price based on the currently listed and recently sold properties in the immediate area and considers a property’s location, views, privacy, age, size, construction, style, and condition among other factors.

GE T A FRE E E VALUAT I O N

A CMA helps sellers choose the best listing prices for their properties. The “best” price is one that’s not so low it leaves the seller in more debt or so high the property won’t sell. For buyers, a CMA can verify if a property is in the right price range and help pinpoint a competitive offer that will be taken seriously—without going overboard.

Here’s what a few of our CMA clients experienced: Thank you for all your support and extra steps you took to make this long-distance sale happen. Your patience and handholding at times was greatly appreciated. I know you invested more time than is usually required dealing with

Most of our Property Owner clients start their process of selling by receiving a CMA. Some decide to list right away, and others plan to in the future. Regardless of when you decide to sell, we will continue to update your CMA annually or semiannually, depending on your preference. Many of our clients find these reports valuable when Estate Planning or filing year-end taxes.

Others just want to know where their investment stands in today’s market.

our needs and circumstances and I am so grateful for that. I think I can speak for Steve when I say, we will definitely keep in touch and look you up when one or both of us come back to Jackson.

Jackson will always be a favorite location for us and we have happy memories there.

CONNIE & STEVE NESTLER

We know there were some tricky moments in the negotiations, but we always felt that you had our back, handled things well and were

Our team offers a free, no-obligation, comprehensive market analysis to all clients and customers. To get started, fill out the form on our website or you can print out the certificate on this page and either scan it back or drop it in the snail mail.

Disclaimer: A CMA is an opinion of price and is not a certified appraisal of the market value of the property. If such an appraisal is desired, the service of a certified appraiser must be obtained.

Yes! I would like a free, no-obligation CMA.

very efficient. We appreciate your frequent communication and felt like we always knew what was going on. Thanks again for handling the last-minute disbursement of items. We could never have handled that from a distance, and we know it took a lot of time and effort on your part.

MARY AND JEFF DIXON

NAME EMAIL PHONE CMA PROPERTY ADDRESS

JACKSON HOLE

TETON VALLEY, IDAHO

STAR VALLEY

Work With Us Call us today if you are considering purchasing real estate this year in Jackson Hole. We are the Realtors you want on your team. But, don’t take our word for it. Read what two of our recent Buyers had to say about their experience: Luke was absolutely fantastic to work with. We had some pretty specific needs for both a 2nd home and a rental property. Given our unique travel schedule coming in from the East Coast with young kids in tow, Luke handled that with ease and if he wasn’t available due to our shortnotice trips; he matched us perfectly with another agent at the office who supported our quest.

Luke has been amazing from the beginning of the process in understanding our goals, through to negotiations and more importantly; in how he has taken care of us after the sale. Coming from a world-class service background, in my experience, the hardest part of a working relationship to accomplish a goal is the last mile to completion and then support once the project completes.

After the sale, Luke has demonstrated incredibly high ownership to our goals in connecting us with local contractors and has been available on request for support as needed (which has been quite a bit). He truly thinks long-term, demonstrates world-class ownership and professionalism. We look forward to working with him as we expand in the future. Thank you Luke, Hayden and The Viehman Group at Engel & Volkers! Onward!

TAY T & L I N D SAY R U LE FA M ILY ( W IN T ER S KY INVE STME NTS)

Thank you for all your support and extra steps you took to make this long-distance sale happen.

Your patience and hand-holding at times was greatly appreciated. I know you invested more time than is usually required dealing with our needs and circumstances and I am so grateful for that.

I think I can speak for Steve when I say, we will definitely keep in touch and look you up when one or both of us come back to Jackson. Jackson will always be a favorite location for us and we have happy memories there. Thanks for being our favorite Realtor and good friend.

CO N N I E & ST E VE N E ST LER ( C H ICAG O, IL)

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JACKSON HOLE REPORT Q2 2023 jacksonholereport.com

Devon Viehman is an E&V Private Office Advisor Private Office Advisors are among the most competent and connected real estate professionals in the world. Beyond achieving the highest levels of client satisfaction, trust, and success, these market leaders are respected by colleagues and competitors alike.

They are passionate about Engel & Völkers and true standard bearers for our global brand.

As an international service company specializing in the brokerage of residential property, commercial real estate, yachts and private jets, Engel & Völkers stands for a comprehensive range of services and consultancy excellence.

Responding to client and customer needs and inspired by private banking services, Christian Völkers established Private Office in 2007. As the group expanded to cover more states, provinces and countries over the years, its mission remained the same. Engel and Völkers Private Office serves the singular requirements of our clients with high-value and often multi-market real estate portfolios, a group that includes leaders in business, politics and culture.

Private Office Advisors provide the level of expertise and discretion that this client base demands to sellers and buyers at all price points. Their goal is to earn trust and build relationships that continue well beyond a single transaction.

DEVON VIEHMAN, ASSOCIATE BROKER | (307) 690-0621 | DEVON@JACKSONHOLEREPORT.COM

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JACKSON HOLE REPORT Q2 2023 jacksonholereport.com

COMMUNITY HOUSING

FUND

JACKSON HOLE COMMUNITY HOUSING TRUST

CREATING AFFORDABLE HOUSING OPPORTUNITIES FOR TETON COUNTY’S ESSENTIAL EMPLOYEES. The Teton Board of REALTORS® Community Housing Fund allows every agent and seller to designate proceeds or a portion of their commission to fund affordable housing in Teton County at every transaction.

TCSD HOUSING PROJECT With concern about the rapidly changing character of Jackson Hole and the ability for essential employees to afford stable, secure housing, Devon Viehman partnered with the Teton Board of REALTORS® to create The Community Housing Fund. The TBOR Community Housing Fund allows every agent and seller to designate proceeds or a portion of their commission to fund affordable housing in Teton County at every transaction.

Learn more at communityhousingfund.com.

TCSD HOUSING PROJECT

$643,675 R A I S E D T O DAT E

TETON COUNTY IDAHO JOINT HOUSING AUTHORITY

Live your luxury.

Escape the everyday … with the luxury of the great outdoors.

Live Your Wyoming Dream Engel & Völkers

Jackson Hole . Star Valley . Sublette . Dubois . Teton Valley . Swan Valley jacksonhole.evrealestate.com | starvalley.evrealestate.com | sublette.evrealestate.com

Photo Features Real Estate Advisor Jo Gathercole

Extensive · Domestic · Global · Exposure

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ot all properties are created equal, yet Engel & Völkers values every home our advisors represent and will dedicate the expertise, time, and unmatched marketing resources we possess to help you sell your

property to the right buyer at the right price. Our Extensive Domestic & Global Exposure (EDGE) platform provides unprecedented reach to get your property in front of qualified consumers, whether they are next door, in The Americas or abroad, because they deserve to see it, and you deserve to sell it. Working with an Engel & Völkers advisor gives you the EDGE that allows each home listing extensive online exposure in major markets where a potential buyer for your property may exist, with today’s savvy consumers and international clientele.

But we don’t stop there ...

E

ngel & Völkers provides luxury services to each of its clients worldwide. With a global network of more than 16,000 real estate professionals in over 37 countries, we not only reach millions of targeted consumers,

but we collaborate with our fellow Engel & Völkers advisors to strategically handpick and refer buyers for the specific properties they seek ... like yours.

Our deep knowledge of the valley combined with Engel & Volkers Jackson Hole makes us your Local Real Estate Experts.

Whether you are pricing your property to sell in this competitive market or weighing the right time to buy, rest assured that when you are our client, you have the upper hand through access to current market statistics and our impeccable level of service and personal attention. For a free comparative market analysis, please contact us by calling (307) 6904004 or emailing david@jhreport.com.

The JACKSON HOLE REPORT is published semi-annually, with additional email updates for the first and third quarters.

While other Realtors attempt to report on our local market with MLS statistics only (MLS historically tracks 65-70% of the market), we track every single transaction in Teton County. This data-driven report is the oldest, most accurate and trusted real estate news source in Teton County, Wyoming. We are your “True North” of valley real estate reporting. If you would like to sign up for quarterly email updates or need more detailed information about our local real estate market, please call (307) 690-4004 or email david@jhreport.com.

We hope this report has given you a snapshot of market trends. As always, we would be glad to discuss them further with you. Please contact us if you plan to list your property in 2023, would like a more detailed analysis of specific areas or back issues of the JACKSON HOLE REPORT, or if you are seeking a professional Realtor to represent you in your next real estate transaction. We look forward to working with you.

Sincerely,

David E. Viehman, Associate Broker Devon Viehman, Associate Broker “Wyoming Realtor of the Year 2013” “2018 President - Wyoming Association of Realtors” Luke Smith, Associate Broker, WY & ID Josie Daniel, Sales Associate Jackson Hole Report Engel & Volkers Jackson Hole Testimonials Direct: 307-690-4004 www.jacksonholereport.com david@jhreport.com

*This first-quarter report is not posted on the Jackson Hole Report website. Instead, it is provided exclusively via email, as a service to all our valued customers and clients here at Engel & Volkers Jackson Hole. The data is collected and analyzed quarterly to help you keep up with trends in our market. *While other local Real Estate Brokers attempt to report on the local real estate market, we are the only ones to track every single transaction.

Therefore, if you want the most accurate information to help guide you through your next real estate transaction, please call Devon, Luke, or David today. “We are the Experts”. *All statistics are supplied by sources that have been deemed reliable but are not guaranteed. *All statistics quoted in this newsletter are based on sales in 2023 compared to sales in 2022. *Median sale price is the cost of a property that has an equal number of sales above and below it on the price scale. *Average sale price is the total combined dollar volume divided by the number of sales. *In this report, “overall” refers to all sales in Teton County combined (homes, lots, condos, commercial, ranch), not including Alta, WY. *The term “Market Value” means; the value of a property in terms of what it can be sold for on the open market; current value. © Copyright 1995 - 2023 by David Viehman and Devon Viehman, dba Engel & Volkers Jackson Hole. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means without explicitly written permission from David Viehman.

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