2018 Year End Market Report

THE NEVILLE GROUP’S 2018 YEAR END REAL ESTATE MARKET ANALYSIS JACKSON HOLE’S MOST COMPREHENSIVE REAL ESTATE MARKET REPORT

THE JACKSON HOLE 2018 YEAR END MARKET REPORT PROUDLY BROUGHT TO YOU BY THE LUXURY PROPERTY EXPERTS AT THE NEVILLE GROUP

2018 was a banner year across the board for Jackson Hole’s real estate market, with total sales reaching approximately $1.2B. Statistics show this trend has cause to continue and The NeVille Group is strategically poised to represent all of your buying, selling and property management needs utilizing our global network.

The Market Report Our team exclusively owns and maintains the valley’s oldest and most comprehensive database. This market report is derived from Jackson Hole Real Estate Associates’s proprietary, forty year old database (not just MLS data) as well as decades of history and success, making this the most trusted and accurate real estate report in the region. No other real estate company or agent has the resources available to offer this depth of experise or insight regarding current or previous market conditions. The unmatched

resources and knowledge of our team, the largest and most dynamic real estate company in the region, combinedwith the largest global luxury real estate network, Christie’s Internation Real Estate, we are able to offer the ideal balnce of local expertise and global reach. As the market leader in the Jackson Hole region, we believe the success of our company is based on the value that we provide for our clients, community and agents.

TABLE OF CONTENTS LISTING PRICE: $7,800,000 SOLD BY THE NEVILLE GROUP

I.

Market Hightlights

PG 1-2

JHREA’s overall market details for 3rd Quarter, 2018.

II. Detailed Statistics By Sub-Market

PG 3-12

The NeVille Group’s exclusive detailed market summary on each of the 7 sub-markets in Jackson

Hole using MLS information only

III. Summary

NEW LISTING $8,500,000

PG 13-18

Our overall market details summary.

INDIAN SPRINGS RETREAT $9,295,000 307.690.3209

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thenevillegroup.com

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS THE NEVILLE GROUP HEADQUARTERS

16%

AVERAGE SALE PRICE

ON

KS @ JAC EARL

P

11%

MEDIAN SALE PRICE

35%

TOTAL DOLLAR VOLUME

10%

TOTAL TRANSACTIONS

1

On behalf of our team of dedicated professionals at Jackson Hole Real Estate Associates, we are pleased to present our comprehensive Market Report for year-end 2018. In this detailed report, you will find information on the market segments making up the region. As the leading brokerage in Jackson Hole, we have developed a dynamic report that sheds fresh light on the trends that are shaping our real estate market.

Please do not hesitate to contact our experienced team of professionals for more information specific to your area.

MARKET HIGHLIGHTS

YEAR-END 2018 vs. 2017 SALES DISTRIBUTION BY SEGMENT

288

44%

34%

TRANSACTIONS UNDER $1 MILLION

47

OTHER

8%

SALES DISTRIBUTION BY PRICE

TRANSACTIONS $1-5 MILLION

UNDER $500K

12%

TRANSACTIONS $5 MILLION+

36%

26%

HIGHEST SALE Snow King Hotel *Undisclosed LOWEST SALE $288,000 307.690.3209

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thenevillegroup.com

CONDO/TOWNHOME

VACANT LAND

14%

273

SINGLE FAMILY

$500K-$1M

$1M-$2M

$2-$5M

19%

8%

OVER $5M

2

DETAILED STATISTICS BY SUB-MARKET THIS SECTION’S DATA HAS BEEN RETRIEVED ONLY THROUGH TETON COUNTY MULTIPLE LISTING SERVICE.

307.690.3209

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thenevillegroup.com

TETON VILLAGE LEAST EXPENSIVE SINGLE FAMILY HOME IN TETON VILLAGE IS NOW OVER $4M • NEW 4-LOT SUBDIVISION’S FIRST LOT COMES ON THE MARKET AT OVER $5M Single Family Homes

2017 Q1 - Q3

2018 Q1 - Q4

%

2017 Totals

Active

8

11

37.50%

8

Low Sale

Pending

5

0

-100.00%

0

Med Sale

Curtis Drive Holly Drive

$3,100,000 $3,200,000

Units Sold

5

3

-40.00%

5

High Sale

Granite Ridge

$10,750,000

Avg Sold Price

$4,742,600

$5,683,333

19.84%

$4,742,600

2017 Top Sale

McCollister

$7,268,000*

Median Sold price

$4,500,000

$3,200,000

-28.89%

$4,500,000

10

11

10.00%

10

2017 Q1 - Q4

2018 Q1 - Q4

%

2017 Totals

Active

23

13

-43.48%

21

Low Sale

Teton Mountain Lodge

$425,000

Pending

3

3

0.00%

3

Med Sale

SR Lodge & Spa

$925,000

Units Sold

28

45

60.71%

30

High Sale

Lodge @ Granite Ridge

$6,348,000*

$1,417,042

$1,459,172

2.97%

$1,417,042

2017 Top Sale

Lodge @ Granite Ridge

3,200,000

$975,000

$990,000

1.54%

$975,000

New Listings

43

48

11.63%

43

Building Sites

2017 Q1 - Q4

2018 Q1 - Q4

%

2017 Totals

Active

5

3

-40.00%

5

Pending

1

0

-100.00%

1

Units Sold

5

4

-20.00%

5

Avg Sold Price

$2,619,400

$3,759,750

43.53%

$2,619,400

2017 Top Sale

Median Sold price

$2,622,000

$4,189,500

59.78%

$2,622,000

9

1

-88.89%

9

New Listings Multi Family Homes

Avg Sold Price Median Sold price

New Listings

2018 Highlights

2018 Highlights

(Realtor Multi-Listing Service Statistics)

2018 Highlights Low Sale

Old Village

$1,600,000

Med Sale

Old Village

$3,825,000

High Sale

Sublette Woods

$5,060,000*

Shooting Star

$3,800,000

HIGHEST TETON VILLAGE SINGLE FAMILY SALE IN 2018 $10.75M AT GRANITE RIDGE MULTI-FAMILY SEGMENT SHOWS HOME SALES INCREASING 60% WHILE INVENTORY DECREASES BY 43% * Sales price was “undisclosed”, 92% of list price was used. *Information herein is deemed reliable but not guarenteed. Data is relative to the whole market and may not reflect every sale.

3

307.690.3209

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thenevillegroup.com

NORTH OF WILSON (EXCLUDING TETON VILLAGE, Realtor Multi-Listing Service Statistics)

SINGLE FAMILY HIGH SALE - LAKE CREEK RANCH - $9M BUILDING SITE HIGH SALE - JOHN DODGE - $3.25M Single Family Homes

2017 Q1 - Q4

2018 Q1 - Q4

%

2017 Totals

Active

27

27

0.00%

27

Low Sale

Downtown Wilson

$355,500

Pending

3

1

-66.67%

30

Med Sale

Teton Pines Timbers

$2,300,000

Units Sold

29

42

44.83%

29

High Sale

Lake Creek Ranch

$9,085,000*

Avg Sold Price

$2,841,991

$2,895,215

1.87%

$2,841,991

2017 Top Sale

John Dodge

$6,580,000

Median Sold price

$2,417,750

$2,650,000

0.73%

$2,417,750

48

55

14.58%

48

2017 Q1 - Q4

2018 Q1 - Q4

%

2017 Totals

Active

11

5

-54.55%

11

Low Sale

Spruces Building

$390,000

Pending

3

0

-100.00%

26

Med Sale

Spruces Building

$555,000

Units Sold

23

33

43.48%

23

High Sale

Lodges at Teton Pines

$1,650,000

Avg Sold Price

$697,729

$632,688

2.26%

$697,729

2017 Top Sale

Aspens

$1,475,000

Median Sold price

New Listings Multi-Family Homes

2018 Highlights

2018 Highlights

$657,000

$542,500

-4.87%

$657,000

New Listings

40

27

-32.50%

40

Building Sites

2017 Q1 - Q4

2018 Q1 - Q4

%

2017 Totals

Active

5

10

100.00%

5

Low Sale

Pending

0

0

0.00%

7

Med Sale

Units Sold

8

2

-75.00%

8

Avg Sold Price

$1,772,688

$2,325,000

31.16%

$1,772,688

Median Sold price

$1,231,250

$2,325,000

88.83%

$1,231,250

14

14

0.00%

14

New Listings

2018 Highlights

Wilson

$1,400,000

High Sale

John Dodge

$3,250,000

2017 Top Sale

John Dodge

$4,000,000

SINGLE FAMILY HOME SALES UP 44% MULTI-FAMILY HOME SALES INCREASE BY 43% AS NUMBER OF AVAILABLE PROPERTIES DECREASES BY 55% * Sales price was “undisclosed”, 92% of list price was used. *Information herein is deemed reliable but not guarenteed. Data is relative to the whole market and may not reflect every sale.

307.690.3209

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thenevillegroup.com

4

SOUTH OF WILSON SINGLE FAMILY HIGH SALE - TEAL TRACE - $12.8M

BUILDING SITE HIGH SALE - FALL CREEK ROAD - $9.6M

Single Family Homes

2017 Q1 - Q4

2018 Q1 - Q4

%

2017 Totals

Active

12

17

41.67%

12

Low Sale

Red Top

$600,000

Pending

2

1

-50.00%

17

Med Sale

Hidden Hills

$1,530,000

Units Sold

15

16

6.67%

15

High Sale

Teal Trace

$12,880,000*

Avg Sold Price

$2,652,000

$3,265,744

23.14%

$2,652,000

2017 Top Sale

Crescent H

$16,560,000*

Median Sold price

$1,200,000

$1,673,500

39.46%

$1,200,000

26

32

23.08%

26

2017 Q1 - Q4

2018 Q1 - Q4

%

2017 Totals

New Listings Multi-Family Homes Active

2018 Highlights

2018 Highlights

There are rarely any Mutli-Family units sold in this area. Due to lack of active Multi Family units South of Wilson, there were no sold units publically reported.

Pending Units Sold Avg Sold Price Median Sold Price New Listings Attrition

2017 Q1 - Q4

2018 Q1 - Q4

%

2017 Totals

Active

14

13

-7.14%

14

Low Sale

Pinegleen Subdivision

$416,000

Pending

0

2

200.00%

7

Med Sale

Indian Paintbrush

$810,000

Units Sold

7

9

28.57%

7

High Sale

Fall Creek Rd

$9,660,000*

$1,580,000

$3,099,478

96.17%

$1,580,000

2017 Top Sale

Crescent H Tract 9

$5,250,000

$795,000

$1,380,000

73.58%

$795,000

18

17

-5.56%

18

Building Sites

Avg Sold Price Median Sold price New Listings

2018 Highlights

SINGLE FAMILY HOME PRICE INCREASES 23% - $2.65M TO $3.62M AVAILABLE BUILDING SITES DECREASE WHILE MORE SITES ARE SOLD * Sales price was “undisclosed”, 92% of list price was used. *Information herein is deemed reliable but not guarenteed. Data is relative to the whole market and may not reflect every sale.

5

307.690.3209

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thenevillegroup.com

CENTRAL VALLEY (SNAKE RIVER TO THE ELK REFUGE & HWY 22 NORTH TO SAGEBRUSH, Realtor Multi-Listing Service Statistics)

CENTRAL VALLEY SINGLE FAMILY 2018 HIGH SALE - WOODSIDE - $10.2M

Single Family Homes

2017 Q1 - Q4

2018 Q1 - Q4

%

2017 Totals

Active

22

14

-36.36%

22

Low Sale

N Bar Y

$1,150,000

Pending

1

3

200.00%

15

Med Sale

Gros Ventre North

$3,400,000

Units Sold

19

24

26.32%

19

High Sale

Woodside

$10,200,000

Avg Sold Price

$3,085,811

$4,650,139

50.69%

$3,085,811

2017 Top Sale

Indian Springs

$11,500,000*

Median Sold price

$2,600,000

$3,485,233

34.05%

$2,600,000

35

36

2.86%

35

2017 Q1 - Q4

2018 Q1 - Q4

%

2017 Totals

Active

0

4

400.00%

0

Pending

1

0

-100.00%

Units Sold

6

12

100.00%

Avg Sold Price

$995,833

$892,604

Median Sold price

New Listings Multi Family Homes

2018 Highlights

2018 Highlights Low Sale

Harvest Dance

$650,000

7

Med Sale

Harvest Dance

$800,000

6

High Sale

JHG&T Cabin

$1,700,000

-10.37%

$995,833

2017 Top Sale

JHG&T Cabin

$1,895,000

$707,500

$785,000

10.95%

$707,500

New Listings

5

4

-20.00%

5

Building Sites

2017 Q1 - Q4

2018 Q1 - Q4

%

2017 Totals

Active

34

27

-20.59%

34

Low Sale

Old JHG&T

$565,000

Pending

2

1

-50.00%

17

Med Sale

E Zenith

$1,000,000

Units Sold

18

16

-11.11%

18

High Sale

Ranch 1 Spring Creek Rd

$4,508,000*

$1,384,012

$1,511,625

9.22%

$1,384,012

2017 Top Sale

E Gros Ventre Butte

$5,520,000*

$925,000

$1,156,500

22.38%

$945,000

31

22

-29.03%

31

Avg Sold Price Median Sold price New Listings

2018 Highlights

SHRINKING SINGLE FAMILY HOME INVENTORY LEADS TO INCRERASE IN BOTH HOME SALES AND SALE PRICE - UP 50%: $3.08M IN 2017 TO $4.65M IN 2018 * Sales price was “undisclosed”, 92% of list price was used. *Information herein is deemed reliable but not guarenteed. Data is relative to the whole market and may not reflect every sale.

307.690.3209

2

thenevillegroup.com

6

NORTH VALLEY

(SAGEBRUSH DRIVE NORTH TO MORAN & SNAKE RIVER EAST TO KELLY, Realtor Multi-Listing Service Statistics)

SINGLE FAMILY HOME 2018 HIGH SALE - SPLIT CREEK RANCH - $7.6M Single Family Homes

2017 Q1 - Q4

2018 Q1 - Q4

%

2017 Totals

Active

17

14

-17.65%

17

Low Sale

Pending

0

1

100.00%

14

Units Sold

14

15

7.14%

Avg Sold Price

$2,212,821

$2,892,437

Median Sold price

$1,224,500

New Listings Multi-Family Homes

2018 Highlights Turpin Meadow

$438,000

Med Sale

Solitude

$2,050,000

14

High Sale

Split Creek Ranch

$7,619,048

30.71%

$2,212,821

2017 Top Sale

Solitude Home

$5,796,000*

$2,050,000

67.42%

$1,224,500

30

27

-10.00%

30

2017 Q1 - Q3

2018 Q1 - Q3

%

2017 Totals

Active

2018 Highlights

There are rarely any Mutli-Family units sold in this area

Pending Units Sold Avg Sold Price Median Sold Price New Listings Attrition 2017 Q1 - Q4

2018 Q1 - Q4

%

2017 Totals

Active

19

29

52.63%

19

Low Sale

Pacific Creek

$480,000

Pending

1

0

-100.00%

12

Med Sale

Solitude

$925,000

Building Sites

Units Sold

2018 Highlights

12

6

-50.00%

12

High Sale

Split Creek Rd

$2,405,952

Avg Sold Price

$983,646

$1,150,575

16.97%

$983,646

2017 Top Sale

Bar B Bar

$3,000,000

Median Sold price

$877,500

$1,006,250

14.67%

$877,500

16

39

143.75%

16

New Listings

BUILDING SITE INVENTORY JUMPS FROM 19 TO 29 PARCELS AND AVERAGE SOLD PRICE INCREASES

$983K TO $1.15M

* Sales price was “undisclosed”, 92% of list price was used. *Information herein is deemed reliable but not guarenteed. Data is relative to the whole market and may not reflect every sale.

7

307.690.3209

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thenevillegroup.com

TOWN OF JACKSON SINGLE FAMILY HOME 2018 HIGH SALE - ELK REFUGE - $6.4M MULTI-FAMILY HIGH SALE - TOWN SQUARE CONDO AT MARIOTT - $1.95M Single Family Homes

2017 Q1 - Q4

2018 Q1 - Q4

%

2017 Totals

Active

19

13

-31.58%

19

Low Sale

Cottonwood

$607,500

Pending

10

4

-60.00%

62

Med Sale

Hidden Ranch

$1,139,250

Units Sold

58

69

18.97%

58

High Sale

Elk Refuge

$6,400,000

$1,135,581

$1,474,998

29.89%

$1,135,581

2017 Top Sale

Gill Addition

$4,800,000

$986,950

$1,155,000

17.03%

$986,950

80

75

-6.25%

80

2017 Q1 - Q4

2018 Q1 - Q4

%

2017 Totals

Active

16

26

65.50%

16

Low Sale

Meadowbrook

$300,000

Pending

10

5

-50.00%

97

Med Sale

Cottonwood Park

$612,500

Units Sold

85

93

9.41%

85

High Sale

Town Square Condo

$1,950,000

Avg Sold Price

$627,182

$753,428

20.13%

$627,182

2017 Top Sale

Pine Glades

$1,850,000

Median Sold price

Avg Sold Price Median Sold price New Listings Multi-Family Homes

$535,000

$613,750

14.72%

$535,000

New Listings

110

78

-29.09%

110

Building Sites

2017 Q1 - Q4

2018 Q1 - Q4

%

2017 Totals

3

6

100.00%

3

Active

2018 Highlights

2018 Highlights

2018 Highlights Low Sale

Karns Hillside

$504,000

Pending

10

0

-100.00%

11

Med Sale

Snow King Estates

$550,000

Units Sold

10

9

-10.00%

10

High Sale

Cache Creek

$1,400,000

Avg Sold Price

$902,180

$730,667

-19.01%

$902,180

2017 Top Sale

Gleenwood St

$2,346,000*

Median Sold price

$657,800

$621,000

-5.59%

$657,800

15

19

26.67%

15

New Listings

•

TOWN OF JACKSON 2018 LISTING PRICES RANGE FROM $607K - $6.4M

•

MULTI-FAMILY PRE-SALE COMING ON THE MARKET SPRING 2019 - $1200/SQFT •

NEW MULTI-FAMILY PRODUCT - PINE GLADES OFFERED AT $3.2M

* Sales price was “undisclosed”, 92% of list price was used. *Information herein is deemed reliable but not guarenteed. Data is relative to the whole market and may not reflect every sale.

307.690.3209

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thenevillegroup.com

8

SOUTH OF JACKSON MOST DIVERSE MARKET IN TETON COUNTY WITH THE LOWEST AND HIGHEST SALE PRICES MULTI-FAMILY UNIT - $290K - DEER DRIVE / SINGLE FAMILY HIGH SALE - $21M* - BOYLES HILL ROAD SINGLE FAMILY HOME SALES UP 48%

AVERAGE SOLD PRICE UP 40%

Single Family Homes

2017 Q1 - Q4

2018 Q1 - Q4

%

2017 Totals

Active

26

23

-11.54%

26

Low Sale

Rogers Point

$440,000

Pending

9

3

-66.67%

55

Med Sale

Single Tree Ranches

$1,375,400

Units Sold

50

74

48.00%

50

High Sale

Boyles Hill Rd.

$21,068,000*

Avg Sold Price

$1,558,942

$2,174,663

39.50%

$1,558,942

2017 Top Sale

3 Creek Ranch

$4,750,000

Median Sold price

$1,350,000

$1,367,879

1.32%

$1,350,000

93

93

0.00%

93

2017 Q1 - Q4

2018 Q1 - Q4

%

2017 Totals

Active

11

2

-81.82%

11

Low Sale

Deer Dr

$290,000

Pending

0

0

0.00%

8

Med Sale

Deer Dr

$305,000

Units Sold

11

6

-45.45%

11

High Sale

Rafter J SE 40

$635,000

Avg Sold Price

$548,942

$449,663

-18.01%

$548,409

2017 Top Sale

Waldon Pond

$700,000

Median Sold price

Hoback River Rd

$425,000

New Listings Multi-Family Homes

2018 Highlights

2018 Highlights

$577,500

$437,240

-24.29%

$577,500

New Listings

9

9

0.00%

9

Building Sites

2017 Q1 - Q4

2018 Q1 - Q4

%

2017 Totals

Active

25

21

-16.00%

25

Low Sale

Pending

3

0

-100.00%

13

Med Sale

SR Sporting Club

$680,000

Units Sold

29

20

-31.03%

29

High Sale

3 Creek Ranch

$3,220,000*

Avg Sold Price

$929,241

$900,255

-3.12%

$929,241

2017 Top Sale

3 Creek Ranch

$3,036,000*

Median Sold price

$750,000

$685,000

-8.67%

36

28

-22.22%

$750,000 36

New Listings

2018 Highlights

SNAKE RIVER SPORTING CLUB HAD A SUCCESSFUL 2018 WITH SALE TOTALS OVER $34M MULTI-FAMILY HOME SALES DOWN 45% LIKELY RESULTING FROM 81% DECREASE IN INVENTORY * Sales price was “undisclosed”, 92% of list price was used. *Information herein is deemed reliable but not guarenteed. Data is relative to the whole market and may not reflect every sale.

9

307.690.3209

2

thenevillegroup.com

Inventory maintains very low levels, “solds” continue to rise.

All Properties Active Pending Units Sold Avg Sold Price Median Sold Price New Listings

2017 Q1 - Q4

2018 Q1 - Q4

%

2017 Totals

286

275

-3.85%

286

46

24

-47.83%

481

435 $1,238,934

500 $1,772,329

14.94% 43.05%

435 $1,416,879

$894,500 676

$1,012,000 695

13.14% 2.81%

$900,000 676

ONLY SIX SALES UNDER $300K IN 2018 $290K DEER DRIVE SALE MARKS THE END OF UNDER $300K NON DEED-RESTRICTED TETON COUNTY INVENTORY

AVERAGE SOLD PRICES FOR THE COUNTY INCREASE 43% * Sales price was “undisclosed”, 92% of list price was used. *Information herein is deemed reliable but not guarenteed. Data is relative to the whole market and may not reflect every sale.

307.690.3209

2

thenevillegroup.com

10

ALL OF TETON COUNTY TETON COUNTY HAS BEEN FORTUNATE TO HAVE ROBUST INVENTORY, MAINTAINING A ROBUST INVENTORY WILL PROVE TO BE THE GREATEST CHALLENGE FOR 2019

Single Family Homes

13

12

$0 - $2M

$2M - $5M

$5M-$8M

$8M+

2017 Q1 - Q4

2018 Q1 - Q4

%

2017 Totals

Active

132

120

-9.09%

132

Low Sale

Town of Wilson

$355,500

Pending

30

13

-56.67%

198

Med Sale

SR Sporting Club

$1,673,250

Units Sold

190

244

28.42%

190

High Sale

Boyles Hill Road

$21,068,000*

Avg Sold Price

$2,001,566

$2,497,831

24.79%

$2,001,566

2017 Top Sale

Crescent H

$16,560,000*

Median Sold price

$1,387,500

$1,661,625

19.76%

$1,387,500

322

329

2.17%

322

New Listings

2018 Highlights

32

146

MULTI FAMILY HOMES Q4 2018

$0 - $1M

12

$1M - $2M

$2M+

2017 Q1 - Q4

2018 Q1 - Q4

%

2017 Totals

Active

49

46

-6.12%

49

Low Sale

Deer Drive

$290,000

Pending

8

8

0.00%

191

Med Sale

Teton Shadows

$660,000

156

190

21.79%

156

High Sale

Granite Ridge

$6,348,000*

Avg Sold Price

$798,474

$912,837

14.32%

$798,474

2017 Top Sale

Shooting Star

$4,250,000

Median Sold price

$605,500

$657,500

9.13%

$602,500

215

255

4.65%

215

Multi-Family Homes

Units Sold

New Listings

2018 Highlights

39

BUILDING SITES Q4 2018

$0 - $1M

Building Sites

13

10

4

$1M - $2M

$2M - $5M

$5M+

2017 Q1 - Q4

2018 Q1 - Q4

%

2017 Totals

105

109

3.81%

105

Low Sale

Hoback River Rd

$425,000

Pending

8

3

-62.50%

92

Med Sale

Creek Ranch

$800,000

Units Sold

89

66

-25.84%

89

High Sale

$1,247,464

$1,564,467

25.41%

$1,247,464

2017 Top Sale

Fall Creek Rd Crescent H

$9,660,000* $5,250,000

$825,000

$840,000

1.82%

$825,000

139

141

1.44%

139

Active

Avg Sold Price Median Sold price New Listings

11

70

149

SINGLE FAMILY HOMES Q4 2018

2018 Highlights

* Sales price was “undisclosed”, 92% of list price was used. *Information herein is deemed reliable but not guarenteed. Data is relative to the whole market and may not reflect every sale.

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SUMMARY

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2018 Market Overview Jackson Hole’s real estate market ended the year predictably strong. The draw of Jackson Hole’s

697

rugged beauty and active lifestyle continues to reflect in our real estate market, with 2018 bringing in 10% more transactions and a 35% increase in dollar volume. Average and median sale prices were

$1,818,767

also up, increasing 16% and 11%, respectively. Several

TOTAL NUMBER OF TRANSACTIONS 10% Increase over the prior year

AVERAGE SALE PRICE 16% Increase over the prior year

notable sales drove these figures, including the sale of the Snow King Hotel, a historic ranch property

$992,500

southeast of town, and a ranching / equestrian

MEDIAN SALE PRICE 11% Increase over the prior year

property on Spring Gulch Road. Properties under $500,000 have become even more difficult to find, evidenced by a 24% decrease in sales. That category made up only 12% of the year’s transactions. Most sales took place in the $500,000 – $1 million

-6%

segment, accounting for 36% of sales. Single family homes accounted for about 44% of all transactions

DECREASE IN INVENTORY

this year, a 20% increase over 2017. Overall, inventory dropped about 6% and properties are selling nearly 15% faster.

13

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SOLD | List Price: $1,395,000 | Town of Jackson

YEAR-END 2018 SINGLE FAMILY Single-family homes were the most purchased properties in 2018, accounting for 44% of all transactions. Average sale prices increased by 9%, and the median sale price rose 22% to $1,585,000. Home sales in

# of Transactions 304

32%

Total Dollar Volume

51%

Minimum Price Sold $438,000

-3%

Maximum Price Sold $14,995,000

-67% 9%

Teton Village more than doubled compared to last year. Another area with

Average Sale Price $2,341,574

a large increase in transactions was South of Jackson, which was up 46%.

Median Sale Price $1,585,000

22%

Average Days on the Market 177

-14%

The majority of homes sold in the Town of Jackson and in the $1 million – $2 million price segment. The amount of homes selling for over $5 million had a dramatic 107% increase over 2017. Inventory is down about 7% and homes are selling about 14% faster than last year.

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# Pending Transactions 24

0%

Inventory 118

-7%

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YEAR-END 2018 CONDOMINIUM & TOWNHOME The condo and townhome segment of Jackson Hole’s real estate market has experienced strong appreciation over the past several years. However,

# of Transactions 238

4%

Total Dollar Volume

-6%

Minimum Price Sold 288,000

7% 6%

the most recent figures show growth leveling. The number of transactions

Maximum Price Sold $6,900,000

increased slightly, up 4%, but average sale prices are down 18%. This

Average Sale Price $933,658

-18%

Median Sale Price $645,000

8%

decrease can be contributed partly to a sell-out of townhomes in Teton Village’s Shooting Star development and a shift to lower-priced products such as condo-tels. The median price of condos / townhomes increased by 8%, up to $645,000. Other market indicators point toward stabilization, including growing inventory (+17%), fewer units under contract at year-end (-20%), and a greater time on market (+36%).

Average Days on the Market 156

36%

# Pending Transactions 12

-20%

Inventory 42

17%

SOLD | List Price: $1,395,000 | Town of Jackson

SOLD | List Price: $1,425,000 | North of Jackson

YEAR-END 2018 VACANT LAND

# of Transactions 96

The number of land transactions in Jackson Hole dipped by about 22% this year

Total Dollar Volume 4%

29%

Minimum Price Sold $360,000

32%

compared to 2017. Nonetheless, the top rule in real estate – location, location, location – rings true as ever. Land buyers in 2018 honed in on some of the most spectacular properties in the area, which is evidenced by a 28% increase in average sale price. Nearly 22% of the year’s land sales were over $3 million. Land inventory increased modestly, up 7%, but land sold 16% faster than in 2017. Also worth noting, about 75% of sales were cash transactions, which was significantly higher than any other segment of the market.

Maximum Price Sold $35,000,000*

2

398%

Average Sale Price $1,643,155

28%

Median Sale Price $800,000

-6%

Average Days on the Market 375

-16%

# Pending Transactions 5

-17%

Inventory 106 307.690.3209

-22%

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7%

16

YEAR-END 2018 LUXURY 2018 was a remarkable year for luxury properties in Jackson Hole. The number of transactions valued at over $3 million increased 63% compared to 2017. The median sale price of luxury properties increased by 5% to $4,500,000. Just under half of the luxury transactions were over $5 million. Most luxury sales occurred in Teton Village, followed by the areas South of Jackson and North of Wilson. There were 18 luxury land sales and 73 luxury residential sales. Even more

# of Transactions 91

63%

Total Dollar Volume

65%

Maximum Price Sold $35,000,000*

-22%

Average Sale Price $5,432,839

Median Sale Price $4,500,000

-3% 5%

indication of the strength of the luxury market is the decrease in inventory (-4%),

Average Days on the Market 272

-29%

the dramatic increase in properties under contract (+143%), and the decrease in

# Pending Transactions 17

143%

time to sell a luxury property (-29%).

Note: In the luxury segment, the small number of transactions may affect comparisons on a percentage basis.

Inventory 103

-4%

*List Price

SOLD | List Price: $10,900,000 | North of Jackson

FUN FACTS ABOUT JACKSON HOLE

WE ALL KNOW JACKSON IS MORE THAN JUST A GREAT VACATION SPOT, BUT DID YOU KNOW: •

THE U.S. VOYAGER II SPACECRAFT, LAUNCHED IN 1977 TO EXPLORE UNKNOWN REACHES OF THE SOLAR SYSTEM, CONTAINS AN ANSEL ADAMS PHOTOGRAPH OF JACKSON HOLE AS PART OF ITS ARTIFACTS CARGO.

•

JACKSON HOLE WAS ORIGINALLY NAMED AFTER DAVEY JACKSON, A MOUNTAIN MAN WHO TRAPPED IN THE AREA DURING THE LATE 1800S. “HOLE” WAS A TERM USED IN THAT DAY TO DESCRIBE A HIGH MOUNTAIN VALLEY.

•

THE FIRST PERSON TO SKI DOWN THE 13,770-FOOT GRAND TETON WAS LOCAL RESIDENT BILL BRIGGS IN 1971. HE IS CURRENTLY THE SKI SCHOOL DIRECTOR AT THE SNOW KING SKI AREA.

•

STARTING AT A MERE 6,311 FEET, JACKSON HOLE HAS ONE OF THE LOWEST BASE ELEVATIONS OF ANY SKI RESORT AREA IN THE ROCKY MOUNTAINS. MOST OTHER SKI RESORTS IN COLORADO, UTAH AND NEW MEXICO HAVE BASE ELEVATIONS BETWEEN 6,900 AND 9,500 FEET.

•

IN JUNE 1989, PRESIDENT GEORGE BUSH CHOSE TO DELIVER HIS FIRST MAJOR SPEECH ON THE IMPORTANCE OF THE ENVIRONMENT AND CLEAN AIR IN AN OPEN MEADOW IN FRONT OF THE TETONS IN GRAND TETON NATIONAL PARK.

•

YELLOWSTONE WAS THE WORLD’S FIRST NATIONAL PARK, CREATED IN 1872, 18 YEARS BEFORE WYOMING BECAME A STATE.

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•

GRAND TETON NATIONAL PARK WAS CREATED IN 1929 AND GREATLY EXPANDED IN 1950 DUE TO THE DETERMINED EFFORTS OF JOHN D. ROCKEFELLER, WHO PURCHASED AND THEN DONATED A GREAT DEAL OF THE LAND THAT IS UNDER PROTECTION TODAY.

•

THE NATIONAL ELK REFUGE, LOCATED JUST OUTSIDE THE TOWN OF JACKSON, IS THE LARGEST ESTABLISHED ELK PRESERVE IN NORTH AMERICA. UP TO 9,000 ELK WINTER ON THE REFUGE, AND VISITORS CAN ENJOY CLOSE-UP VIEWS ON DAILY SLEIGH RIDES FROM DECEMBER THROUGH APRIL.

•

WYOMING, THE PROFESSED “THE EQUALITY STATE,” HAS HOSTED MANY OF AMERICA’S FIRSTS INCLUDING THE FIRST ALL-WOMAN CITY COUNCIL (ELECTED TO OFFICE IN JACKSON IN 1920); THE FIRST WOMAN GOVERNOR ELECTED; AND THE FIRST GOVERNMENT IN WORLD HISTORY TO ALLOW WOMEN TO VOTE (IN 1869 — 51 YEARS BEFORE THE U.S. CONSTITUTIONAL AMENDMENT)

•

A WHOPPING 97% OF THE 3,826,407 ACRES IN TETON COUNTY ARE FEDERALLY OWNED OR STATE MANAGED, INCLUDING GRAND TETON NATIONAL PARK, BRIDGER-TETON NATIONAL FOREST, AND THE NATIONAL ELK REFUGE. ONLY 3% OF THE LAND IN THE JACKSON HOLE AREA IS PRIVATELY OWNED.

•

AMONG ALL 50 U.S. STATES, WYOMING RANKS NINTH IN SIZE AND 50TH IN POPULATION WITH ONLY FIVE PEOPLE PER SQUARE MILE.

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The NeVille Group – Named Top Producing Sales Team of Jackson Hole Real Estate Associates, and Exclusive Affiliate of Christie’s International Real Estate, The NeVille Group is compromised of successful, dedicated and experienced professionals, backed by years of luxury sales success, global connections, and the largest real estate brokerage in the region.

The NeVille Group understands the Jackson Hole market, is globally connected, and locally respected.

Jackson Hole Real Estate Associates – The region’s largest and most progressing real estate brokerage in Jackson Hole and the area. The collection of properties, and expertise is unsurpassed and represents some of the most unique and soughtafter real estate in the world.

Christie’s International Real Estate – A global network of top brokerages dedicated to the marketing and sale of luxury residential properties. Access covers a worldwide audience of more than 1,350 real estate offices in 47 countries and transactions resulting in over $113 billion in sales annually.

TOP PRODUCING TEAM, 2017 270 West Pearl Ave, Suite 101 Jackson, WY 83001 307.734.9949 | 307.690.3209

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