Jackson Hole Luxury Real Estate Report

VOLUME 4, EDITION 2

2016

Jackson Hole Luxur y Repor t

The Newest Luxury Listing, Page 3

JA CKSO NHOL E L U X U R Y

R E P O R T

D AV I D V I E H M A N & D E V O N V I E H M A N

307.690.4004 JacksonHoleLuxuryReport.com

DAVID VIEHMAN C E L L 307.690.4004 T O L L F R E E 855.690.4004

JACKSON HOLE

LUXURY REPORT

2016

Presented By

David Viehman ASSOCIATE BROKER &

Devon Viehman ASSOCIATE BROKER

David Viehman and Devon Viehman understand that real estate is about relationships – the ties forged between people and place. Father and daughter have devoted their lives to sharing the valley they love so dearly with people keen to plant roots in Jackson Hole. Having collectively logged more than 35 years in Jackson Hole real estate, their singular approach to the local market melds detailed analytics with personal attention.

Knowing the valley as well as they do allows them to deftly find and feature properties for their clients, particularly when it comes to the luxury market.

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A Florida native, David Viehman moved to Jackson two decades ago with his wife Donna and daughter Devon, and dove into the Teton real estate world. He quickly discovered the valley presented a distinct market worthy of analysis, so he created the Jackson Hole Report, a quarterly newsletter tracking sales and listings that is now considered the definitive source on valley real estate trends. Beyond analytics, David has worked extensively in resort sales, public relations, agent management and training. Paramount to his professional life is his connection with place and conservation. In 2012, he was appointed to the board of directors of the Grand Teton National Park Foundation, which provides private financial support for special projects that enhance and protect the park. When he is not showing a house, meeting with a client or researching the Jackson Hole Report, he is outside – fly-fishing, rafting, hiking, camping, alpine skiing, snowmobiling, snowshoeing or mountain biking.

DEVON VIEHMAN C E L L 307.690.0621 T O L L F R E E 855.690.4004

Growing up in Jackson Hole, Devon Viehman embraced the cowgirl lifestyle with a drive and determination that foreshadowed her career to come.

Beyond the rodeo arena, Devon has built a name for herself as rising star among valley Realtors. In 2009, she co-founded Jackson Hole Real Estate Associates, a firm she nurtured as a partner until 2014 when she decided to move to RE/Max Obsidian, a boutique firm that allows her to focus solely on her clients’ needs. She has garnered industry accolades throughout her decade-long career: In 2011, Realtor Magazine featured her as one of its Realtors to watch on “The 30 Under 30” national list. She served as the youngest-ever President of the Teton Board of Realtors in 2012 and was named Realtor of the Year by the Wyoming Association of Realtors the following year. Committed to development, she is the founder and president of the Wyoming Chapter of the Young Professionals’ Organization. Every quarter, she co-authors the Jackson Hole Report with her dad, David. Her professional accomplishments are matched by the fulfillment she feels as a mother to an 9-year-old son.

A SINGULAR REPORT FOR SINGULAR PROPERTIES Twenty-one years ago, we identified the need for specialized analysis of the singular Teton real estate market and published the first Jackson Hole Report. Then as now, we filled a valley niche for thorough research on property sales and listings, and the Jackson Hole Report remains the definitive source on Jackson Hole real estate, regularly cited in national publications.

Post-Recession, we observed the high-end segment grow in strength and subtlety.

Realizing luxury properties required special attention and analysis, we published the inaugural Jackson Hole Luxury Report three years ago – to wide acclaim.

The Jackson Hole Luxury Report caters to high-end buyers and sellers who seek to gain a clear understanding of this elite market segment.

THE LUXURY 500 INCLUDES: o o 380 homes o o 21 single-family lots o o 47 large tracts or ranches o o 36 commercial properties o o 3 apartment complexes o o 13 condo or townhomes

The Jackson Hole Luxury Report focuses on properties worth $3 million and above – many of which are sold privately and therefore never appear in public listings.

Combing through public records, we determined that 1,402 properties are worth $3 million and above in Jackson Hole. To further refine the scope of the report, we honed in on the 500 most valuable properties in Jackson Hole, a list heretofore referred to as the Luxury 500.

While the Luxury 500 includes owners of commercial properties and large tracts of land or ranches, the Luxury Report will focus on high-end homes, condos and vacant single-family lots.

The Jackson Hole Luxury Report is published semi-annually and sent to the owners of these high-end properties. All other interested parties may request to receive the Luxury Report in digital form.

SIGNIFICANT LUXURY 500 SALES IN 2016: 1. 7,762 sq. ft. home in Shooting Star on .95 acres listed for $10.85 million.

2. 8,896 sq. ft. home in Indian Springs on 5.85 acres listed for $10.75 million.

3. Guest Ranch in Moran with 40+ acres and permits listed for $9.9 million.

4. 5,964 sq. ft. home in Crescent H on 1.98 acres listed for $7.9 million.

5. 3,455 sq. ft. home in Teton Valley Highlands on 11.4

THE NE W E S T LU X U RY L I S TI N G

acres listed for $7.45 million.

Situated on four lots in the Gill Addition, this property is the most sought after location in the Town of Jackson. Bordered on the North and East side by National Elk Refuge, one will enjoy frequent wildlife visits and unequaled privacy; all while walking distance to the Town Square. The home features an open floor plan, many thoughtful details throughout the approximately 4,600 sq. ft. with 4 bedrooms and 4.5 baths. The enclosed sun porch overlooking the Elk Refuge has an indoor BBQ and is the perfect place to enjoy the wildlife. Mature landscaping and stunning gardens. The rare opportunity to own this property, intact or for re-development, may never come along again.

List price $6 million (MLS#16-1758) | www.280moosestreet.com 03

LUXURY MARKET CONTINUES TO STRENGTHEN Unlike some luxury real estate markets elsewhere in the U.S. with dwindling sales, the luxury market in Jackson Hole continues to heat up in 2016. Overall, the number of luxury sales rose 3% (second best showing ever) with the dollar volume down 8%, or $184 million. Luxury properties selling between $3 and $5 million reported the greatest gains with sales up 17% and dollar volume up 18%, which represents the second-best showing ever of overall properties in this price range after the 2007 peak (redundant with earlier parenthetical?). That said, the overall number of listings dipped 8%. NOTE: So far in 2016, 69% of all luxury transactions were paid in cash.

Exquisite home with panoramic Teton and Sleeping Indian views. www.250huckleberry.com

WHAT DEFINES

LUXURY IN JACKSON HOLE? Our simple answer: a property worth $3 million or more.

Our full response is much more nuanced.

Respecting the singular nature of highend homes and parcels, we analyze each property in great detail. Oftentimes, these properties are incomparable, eluding clear comparisons to other properties.

Even so, context is crucial for both buyers and sellers navigating the elite market.

Pricing such singular parcels requires consulting a specialist – an expert not only in analyzing luxury data, but also recognizing valley trends. As authors of the Jackson Hole Luxury Report, the only one of its kind in Jackson Hole, David and Devon Viehman are leaders in the local field of luxury real estate.

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As further proof of the JH market’s continued strength, the number of luxury properties under contract jumped 115% with the dollar volume up 16% to reach $136 million. Of these 30 properties, 24 are townhouses. NOTE: All but one of the 24 luxury townhouse listings are located in the Shooting Star Resort.

Such banner sales are the result of two key factors: The influx of new, well-priced listings, and Sellers’ willingness to lower their expectations to match current market values.

The current luxury inventory of 110 properties breaks down as follows: 66 single-family homes; 28 single-family lots; 7 condos/townhomes; 5 commercial properties; and 4 Farm/Ranch (large parcels). Although this may sound like plenty of stock, the unique contours of Jackson Hole make the pickings slim.

Limiting factors include: The small percentage of private land in the valley; the plethora of prized amenities like river frontage, panoramic views, and ski-in/skiout access; and the limited number of sites that can support the value of a luxury home.

C L OSE-UP

Prospective buyers looking for a luxury house on the Snake River with 35-plus acres have only two properties to choose from – one north of Jackson and one on the Westbank – both of which include more than 5,000 sq. ft. of living space.

Buyers less interested in river frontage but as keen on land have nine choices, all of which feature homes sited on at least 35 acres. Three of the listings are located on the Westbank, three lie north of Town and three are south of Town.

Considering these constraints and more, many luxury buyers have given up on buying the perfect home in favor of building the perfect home, a process that requires patiently searching for the right property and finding a contractor. This shift in search and skill criteria began in 2013, and now dominates the local construction business. NOTE: If you are just starting the building process, expect to spend two years planning before breaking ground, as most quality builders are booked at least two years out.

LISTEN TO THE NUMBERS When comparing midyear 2016 with 2015, we found that the overall number of sales was 36 – up 3% – and the overall dollar volume slipped 8% to $183 million. The hot spot in the luxury market was between $3 and $5 million, where sales were up 17% and dollar volume rose 18%. NOTE: Only three sales occurred above $10 million, and all sold for under $12 million.

Of the 36 luxury properties that have sold this year, 18 (50%) did not report the sale price to MLS – further evidence that most activity in the luxury market goes unreported.

A N A LYS I S

So far in 2016, the luxury market seems to be keeping pace with last year.

However, like the rest of Jackson Hole real estate, the lack of inventory could hinder the luxury sector from reaching its full potential. Two important factors stoke our confidence in the luxury market: The number of luxury townhomes under contract – 23 in Shooting Star alone – and the sharp increase in homes sales (up 43%). And yet, luxury lot sales decreased by 62%, which reflects Buyers’ concern over the availability of General Contractors and the length of time to build in Jackson Hole.

While there are many homes in Jackson Hole worth more than $10 million, no two properties are alike. This sense of singularity inspires many sellers to initially overprice their home, and then gradually lower the price until it reaches market value – which is why 39% of the luxury homes currently on the market have been listed for more than 2 years. Most luxury buyers hesitate to make an offer when they learn a home has been on the market for many months for fear something is wrong with the property. If you are planning to sell your luxury property this summer or fall, don’t make the mistake of overpricing it. Call us for a confidential market analysis and let us help price your property to sell in 2016.

MOST EXPENSIVE LUXURY LISTING (active in MLS) FOUR SPRINGS RANCH: 264-acres homestead priced at $53 million (listing #16-1413) No other property in Teton County boasts both Fish Creek and Snake River frontages. Located in one of the most scenic areas of the valley and spanning approximately 264.6 acres, this breathtaking property features 8 parcels with development potential, and a riparian parcel.

Conservation easements exist. The main residence on Parcel C enjoys beautiful Fish Creek frontage. Other improvements include a separate studio. A guesthouse, a multi-use barn, a large equipment barn and various sheds are located on Parcel D. All remaining parcels are vacant land. With exceptional wildlife habitat and viewing opportunities, this property must be seen to be fully appreciated.

FOUR SP RING S RANCH

AT THE MIDWAY MARK OF 2016, THE LUXURY MARKET – ALL HOMES, LOTS, CONDOS, RANCHES AND COMMERCIAL PROPERTIES WORTH $3 MILLION OR MORE – TOTALED 1,402 PROPERTIES.

CURRENT LANDSCAPE Overall available inventory slipped slightly (8%) when compared to midyear 2015, as was the average listing price, down 3%. NOTE: 44% of the current inventory is listed between $5 and $10 million, with 58% of those being homes.

Of those homes, 86% are more than 10 years old.

All told, 110 properties are listed for more than $3 million. Of those, 68 are listed for more than $5 million, 20 are listed for $10 million plus, and 3 are listed above $25 million.

OF THE 66 HOMES CURRENTLY LISTED, 39 ARE PRICED ABOVE $5 MILLION, WHILE 11 TOP $10 MILLION AND FOUR EXCEED $15 MILLION.

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MOST EXPENSIVE SINGLE-FAMILY LUXURY HOME SALE SO FAR IN 2016 Listed for $10.75 million, the property atop Indian Springs Ranch included an 8,900 sq. ft. home with 5 bedrooms and 6 baths on 5.8 acres. The estate

LUXURY HOMES

accounted for 56% of all luxury sales in the first six months of 2016, with sales up 43% from a year ago. The dollar volume of single-family luxury home sales totaled $109 million, up 15%. In contrast, the average sale price dropped 20% to $5.43 million, and the median price dropped 18% to $4.9 million. Of the 20 homes that sold for more than $3 million, 10 fetched $5 million-plus and two topped $10 million. NOTE: Twenty sales by midyear represents the second highest number of home sales ever reported, eclipsed only by 2007 when 23 luxury homes sold by midyear.

home offered incredible views of the

H OT SP OT

Tetons and the valley within a gated

As of July 1, the area with the most single-family luxury home sales (50%) was the Westbank with all but one located north of Wilson. Runner-up: South of Jackson with five sales.

community just minutes of town.

MOST EXPENSIVE SINGLE-FAMILY LUXURY HOME CURRENTLY LISTED IN 2016

NOTE: For the second year running, a home in the Town of Jackson sold for over $4.5 million.

OF T H E 66 H OM E L IST ING S, ONLY 10–15% OFFE R 35-P L US ACRES.

Sited on the most spectacular piece of property in Jackson Hole, this 11,000+

CURRENT LANDSCAPE

square foot home has all the features

Available inventory mirrored midyear 2015 with 66 available single-family luxury homes on the market. With an average listing price of $7.1 million and a median listing price of $5.5 million, available inventory breaks down into: 27 properties between $3 and $5 million (41%); 28 between $5 and $10 million (42%); 10 between $10 and $20 million (15%); and 1 listed for $28 million.

that most just dream about. From the spacious entry, dramatic views of the Tetons are framed as art throughout this well designed mountain modern masterpiece. The floor to ceiling windows in the living room capture the

85% OF T H E L UXURY H OM ES CURRENT LY ON T H E M AR KE T AR E M ORE T H AN 15 Y EARS OL D.

beauty of the surroundings while offering a very comfortable area for relaxation

$50

and entertaining. Enjoy the large dining

NUMBER OF HOMES SOLD

MILLION

TOTAL DOLLAR VOLUME

and bar area, media room, expansive office and 4 bedrooms suites including a luxurious master with sitting area, massage alcove and private rooftop decks. The 40 private acres offer 3/4 mile of trout filled spring creeks and private golf under the shadow of the Tetons. List price, $28 million

LUXURY 500 7 of the luxury homes sold in 2016

LUXURY HOME SALES BY AREA

room, fully equipped kitchen, rec room

$30.75 MILLION

$15.7

10

MILLION

$7.25

$4.9

MILLION

5

3

MILLION

1 WESTBANK

GROS VENTRE BUTTES / SPRING GULCH

1 TOWN OF JACKSON

SOUTH OF JACKSON

NORTH OF JACKSON

have been part of the Luxury 500.

CURRENT LY, 42% OF T H E L UXURY H OM E L IST ING S H AVE BE E N 06

ON T H E M ARK ET FOR M ORE T H AN 2 Y EARS.

LUXURY LOT demand slid by 75% to two transactions in the first six months of 2016.

Even though the market segment for luxury lots appears sluggish, we predict slight appreciation in 2016. If the market maintains this sales pace, it will take many years to deplete the current inventory of vacant luxury lots. That said, all signs point to imminent acceleration: With scant luxury home inventory, especially newer homes, Jackson Hole could see a strong autumn of luxury lot sales.

HOT S P O T S

Both luxury lot sales were on the Westbank and in Granite Ridge.

THE CURRENT LANDSCAPE Available inventory is down 7% from midyear 2015 with 28 single-family luxury home sites currently listed. With an average listing price of $8.1 million

MOST EXPENSIVE LUXURY LOT LISTING AS OF JULY 1 A 105-acre parcel of ranch land, priced at $17.9 million, with three development sites and the possibility of putting some acreage in a conservation easement for tax advantages.

Trumpeter swans flock to the 10-acre pond, while bald eagles are often spotted soaring in the skies above the waterways teeming with native cutthroat trout. Panoramic views span the Tetons, Jackson Hole Mountain Resort and the Sleeping Indian.

and a median listing price of $6.75 million, available inventory breaks down into: 9 lots sold between $3 and $5 million; 13 between $5 and $10 million; and 6 over $10 million.

O F T HE 2 8 L I S TI N GS , 2 2 A R E 3 5 + A CR E L OT S

MOST EXPENSIVE LUXURY LOT SALE SO FAR IN 2016 A 1.09-acre parcel in Granite Ridge (Teton Village) listed for $4.15 million.

The property was the last remaining undeveloped residential slope-side parcel in Granite Ridge, located off the Teewinot ski run at Jackson Hole Mountain Resort.

Bar BC Ranch Meadows LU X U RY L O T S A L E S B Y A R E A W E S TB A N K : 2 S O L D 6.8 MILLION IN VOLUME

LUXURY 500 No luxury lots sold to date in 2016 were in the Luxury 500

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MOST EXPENSIVE LUXURY CONDO/ TOWNHOME SALE SO FAR IN 2016 A Paul Bertelli-designed Shooting Star Cabin. Features include

LUXURY CONDO/TOWNHOMES

are few but not far between in Jackson Hole: all but one are located in Teton Village. Eighty-four luxury units currently qualify as luxury properties by being worth $3-plus million: 27 units in the Four Seasons Resort; all 21 Granite Ridge Lodges; 2 Granite Ridge Homesteads; 2 Granite Ridge Timbers; all 18 Cabins at Shooting Star; all 12 Lodges at Fish Creek in Shooting Star; 1 Residence at Snake River Lodge; and 1 penthouse in the Town of Jackson.

reclaimed timber and barnwood, weathered Corten steel and Montana moss rock throughout its gracious floor plan, marked by a vaulted great room overlooking a large pond, with views of the ski resort and Teton Range.

MOST EXPENSIVE CONDO/TOWHOME LISTING AS OF JULY 1

So far in 2016, condo/townhome sales and dollar volume remained even with midyear 2015, while the median sale price slipped 13%. Eight townhomes have sold in 2016: four in Granite Ridge and four in Shooting Star. The most expensive sale was in Shooting Star.

CURRENT LANDSCAPE Eight luxury units are currently on the market: one in Granite Ridge; one in Four Seasons Hotel; and five in Shooting Star. Currently, the average list price is $4.88 million (up 33%) and the median listing price is $3.4 million.

A 3,430 sf. slope-side residence

C ONDO/T OW NH OUSE NEW S

in the Four Seasons Hotel, priced

Shooting Star currently has 24 townhouses under contract at an average price of $4.1 million. All have at least 25% down. Since March 2015, Shooting Star has closed 21 townhouses, 32 single-family lots, and 4 single-family homes at an average price of $10.25 million per home. Since January of 2015, Shooting Star has also added 80 golf members.

at $5.5 million. This 3-bedroom, 4.5-bath townhome has a separate den/TV room that is easily converted into a bedroom.

Spaciousness is understated throughout, fabulous kitchen with easy access to dining room and living room, 2 fireplaces, quality furnishings and accessories.

Outside patios for enjoying sunrises, sunsets and mountain views and a private underground garage with direct elevator access.

LUXURY 500 Only one luxury condo/townhomes sold in 2016 that qualified for the Luxury 500.

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NEWS

IS THE LUXURY HOUSING MARKET IN A SLUMP?

According to Redfin.com, an online blog about the luxury real estate market, the global economic volatility rocked the U.S. luxury housing market in the first quarter of 2016, with the average sale price of luxury homes slipping 1.1% compared to last year. To read more, click here.

THERE ARE MANY REASONS TO LOVE WYOMING...

• • • •

No state income tax • No trust tax No corporate tax • Low sales tax No estate tax • Low property tax No capital gains tax • Low inheritance tax

A CL OS E R L OOK • Wyoming does not charge state tax on personal or corporate income. And its sales tax, property tax and inheritance tax are among the lowest in the U.S. In particular, property taxes are based on assessed value. The Teton County rate is 1.2% of the property’s assessed value while the Town of Jackson rate is 0.8%.

• In Wyoming, you can shield your real estate from federal estate taxes for up to 1,000 years by establishing a dynasty trust. As a result, multiple generations can make use of and enjoy the property without having to pay estate taxes or worse, having to sell the property in order to pay the taxes.

• No state gift tax: a Wyoming property owner can gift that real estate to their heirs without paying a state gift tax.

• No tax on out-of-state retirement income. Second-homeowners may have retirement income from another state; Wyoming doesn’t tax retirement income earned beyond its borders.

• No excise sales taxes. A tank of gas or bag of groceries are not burdened by state tax.

• No intangible taxes: Wyoming does not tax financial assets like stocks and bonds.

• No tax on the sale of real estate.

• No tax on mineral ownership.

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HOW CAN THE JACKSON HOLE LUXURY REPORT SERVE YOU?

RE/MAX OBSIDIAN REAL ESTATE, a member of the RE/MAX Global Network, is a locally-owned and managed boutique real estate sales brokerage. Our team consists of 40 seasoned Realtors, as well as a powerful database that keeps daily track of every single real estate transaction in Jackson Hole. While the intimacy of our local firm guarantees personal service and attention, the global reach of RE/MAX is unmatched in Jackson Hole. When you combine the global presence of all the other local brokerages, their collective reach does not even equal half the number of worldwide offices and agents in the RE/MAX Global Network. Stateside, RE/MAX offers an equally impressive presence. Our U.S. franchises’ websites are visited by 10 times as many as any other local franchise or affiliate brokerage combined, which equates to more than 50 million visits in 2015. This marketing advantage is critical when selling a property; according to the National Association of Realtors, 90% of all buyers in the U.S. start their search online.

Global.REMAX.com even allows potential buyers to look for properties in 30 languages, translate currencies, and find the latest international real estate news. With nearly 90,000 agents in 89 countries, RE/MAX Obsidian Real Estate and the RE/MAX Global Network connect your property to potential customers virtually anywhere.

In Jackson Hole, RE/MAX Obsidian is a vital, contributing member of the community. As a participant in 1% for the Tetons, our brokerage donates 1% of our real estate sales commission

After perusing this publication, we hope you agree: the Jackson Hole Luxury Report stands in a league all its own. Other realtors try to analyze the Jackson Hole market from MLS statistics, however the MLS accounted for only 53% of the luxury sales in 2015. In contrast, we track every single luxury transaction in Teton County by painstakingly reviewing public records. Our data-driven reporting is the most accurate and trusted real estate news source in Teton County.

We use this detailed data to help you – our clients. From pricing your luxury property to sell in this competitive market to helping you determine the right time to buy, we share all of our analytical insight with you. Paired with impeccable professionalism and personal attention, we offer you superior service matched only by the superior nature of the properties themselves.

The lack of published luxury sales can make pricing a luxury home stressful, particularly when emotions are involved. When pricing your property, we reference our own knowledge base – built over decades of tracking the Jackson Hole market and neighborhoods, and working with clients and builders – as well as our extensive research of listed and unlisted sales. By providing you with the best advice available, we ensure that you have a successful and smooth real estate transaction.

To keep you abreast of Jackson Hole’s ever-changing real estate conditions, we offer a suite of services including daily email updates of active luxury listings, a free confidential market analysis of a client’s property and annual price updates for estate and/or trust planning. If you want to list your luxury property this summer, please call or email us to set up an evaluation of your property, which includes assessment in the context of the Luxury 500. After touring your property, we will provide a custom marketing plan. No other Teton brokerage can duplicate the dexterity of our marketing approach.

So whether you plan to list your luxury property soon, want more detailed analysis of a specific area, or need a professional realtor to represent you, please call (307) 690-4004 or email david@jacksonholereport.com.

to local sustainability initiatives.

Our decades-deep knowledge of the valley combined with the global network of RE/MAX Global Network has made us the Local Luxury Experts.

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EXPLORE ONLINE Please visit our website at www.JacksonHoleLuxuryReport.com.

Designed with you in mind, our website features the latest listings and news about our local luxury real estate market.

We hope the Jackson Hole Luxury Report gave you a snapshot of the trends unique to our local luxury market. To further discuss our research or to receive a digital copy, please contact us at (307) 690-4004 or david@jacksonholereport.com. You also can write to us at: P.O. Box 2431, Jackson, WY 83001, Attn: David Viehman. *All statistics quoted in the Jackson Hole Luxury Report have been supplied by sources that have been deemed reliable but are not guaranteed. *All statistics are based on sales in 2016 compared to 2015. * If your property is currently listed, this is not meant as a solicitation.

JA C KS O N HO LE LU X U RY R E PO RT GL O S S A RY: Median sale price: the price of a property that falls in the exact middle of the price scale, as in there are the same number of sales above

and below it.

Average sale price: the total combined dollar volume divided by the number of sales.

Market value: the value of property in terms of what it can be sold for on the open market; current value.

Overall: All luxury sales in Teton County combined – homes, lots, condos, commercial and ranch.

JACKSONHOLE L U X U R Y

R E P O R T

D AV I D V I E H M A N & D E V O N V I E H M A N

Š Copyright 2013-2016 by David E. Viehman. 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 E. Viehman.

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Imagine a Development in Grand Teton National Park.

We Can’t. Can You? Wyoming’s school trust parcel on Antelope Flats could be developed. How can you help? $36,000 assists us in buying one acre of this highly visible, critically important land. If fewer than 640 conservationists answer our call before December 31, 2016, we can save a vulnerable part of Grand Teton that could otherwise be lost forever.

Antelope Flats Parcel

Photo by Ryan Sheets

What are State School Trust Lands?

When a western territory chose statehood, the federal government deeded land to the new state. This land is used to generate income for state needs, in this case for K-12 public education. Two of Wyoming’s school parcels are located in Grand Teton National Park—one on Antelope Flats and the other near Kelly. They were granted to Wyoming in 1890 before Grand Teton National Park was established and are now inholdings within the park.

Importance of Antelope Flats This parcel is north of the Mormon Row Historic District and east of the main road through Grand Teton National Park. If developed, the iconic, unobstructed views park visitors currently enjoy in this area will be gone forever. The land lies in a primary migration route for pronghorn, bison, and elk and also provides important seasonal habitat. It offers nesting and brood-rearing habitat for sage grouse and is frequented by deer, moose, badgers, coyotes, fox, bears, wolves, and dozens of bird species.

Love Your Park? Support Your Park. Contact Grand Teton National Park Foundation President Leslie Mattson at 307-732-0629 or email leslie@gtnpf.org.

THE FACTS • 640 acres prominently placed in Grand Teton • $46 million purchase price; $23 million federally funded, $23 million privately funded through Grand Teton National Park Foundation and National Park Foundation • Revenue from the purchase benefits Wyoming public schools • The Department of the Interior’s highest priority inholding in the nation • A keystone acquisition that completes the heart of the park and preserves critical wildlife habitat and unobstructed scenery