Jh 2017 Q3 Market Report

CLIENT CENTERED | PERFORMANCE DRIVEN

Quar ter 3

The Most Comprehensive Jackson Hole Market Analysis

The Market Report Our team exclusively owns and maintains the valley’s oldest and most comprehensive database. Our Market Analysis is derived from the 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 esate company or agenet has the resources available to offer this depth of expertise or insight regarding current or previous market conditions. The unmatched resources and knowledge of Jackson Hole Real Estate Associates, the largest and most dynamic real estate company in the region, combined with the largest independent affiliate networks, Christie’s International Real Estate and Leading Real Estate Companies of the World, we are able to offer the ideal balance of local expertise and global reach. As the market leader in the Jackon Hole Region, we beilieve the success of our company is based on the value that we provide for our clients, community and agents.

The NeVille Group Real Estate

The NeVille Group is a seasoned team within Jackson Hole Real Estate Associates, a Global Affiliate of the Year by Christie’s International Real Estate, 2011 and 2014. TNG has had many achievemnets from “Top Producer,” “Top Listing Agents,” “Luxury Sales Specialists,” and 2016 Team for Proessional Excellence.”

As the region’s largest and most dynamic real estate company, we provide marketing and services that honor this remarkable destination. We produced more than double the number of listings and 40% more transactions than our nearest competitor in 2016. We are committed to being the leading luxy real estate brand in the Teton region. By staying on top of market trends and continuing to offer cutting edge services, we deliver extradinary experiences to clients and exceed their expectations.

Please do not hesitate to contact any of our real estate professionals for a consultation or a market update in your area. * The statistics used in this report are from the Teton Multiple Listing Service (MLS) and JHREA’s internal database. * This report does not go into detail on every segment of the market, but is intended to offer an overview of general market conditions. Statistics are cumulative. * All statistics are supplied by sources that have been deemed reliable but are not guaranteed.

Cover Image: ASPENSONG, MLS #16-2341

M AR K E T HIGHLIGHTS

17%

AVERAGE SALE PRICE

0%

MEDIAN SALE PRICE

11%

TOTAL DOLLAR VOLUME

-1%

TOTAL TRANSACTIONS

Within this report you will find overall statistics on Jackson Hole residental, vacant land, commercial, and farm and ranch, as well as targeted information on 7 micro-markets we’ve identified: Teton Village, North of Wilson, South of Wilson, Central Valley, Northern Valley, Town of Jackson and South of Jackson.

Jackson Hole tourism numbers continue to increase as does the real estate market. As Jackson Hole continues on this growth trajectory, do not hesitate to contact a real estate professional for a market report in your area.

TETON VILLAGE (Realtor Multi-Listing Service Statistics)

Teton Village-Increase on Single Family Inventory & Overall Sales are Down 27% Single Family Homes

2016 Q3

2017 Q3

%

2016 Totals

Active

3

9

200.00%

7

Low Sale

Old Village

$3,775,000

Pending

3

5

66.67%

4

Med Sale

Old Village

$5,000,000

Units Sold

5

4

-20.00%

6

High Sale

Old Village

$7,268,000*

Avg Sold Price

$3,208,080

$4,803,250

49.72%

$3,969,233

2016 Top Sale

Old Village

$7,775,000

Median Sold Price

$3,200,000

$4,387,500

37.11%

6

9

50.00%

$3,362,500 (Realtor Multi-Listing Service Statistics) 10

2016 Q3

2017 Q3

%

2016 Totals

Active

23

18

-21.74%

25

Low Sale

SN Lodge Spa

$305,000

Pending

32

27

-15.63%

43

Med Sale

Terra II

$1,012,500

Units Sold

27

23

-14.81%

38

High Sale

Shooting Star

$4,250,000

$1,220,957

$1,488,370

21.90%

$1,288,682

2016 Top Sale

4 Seasons

$5,500,000

$845,480

$950,000

12.36%

$910,000

New Listings

30

30

0.00%

43

Building Sites

2016 Q3

2017 Q3

%

2016 Totals

Active

5

4

-20.00%

5

Low Sale

Curtis Drive

$1,250,000

Pending

7

4

-42.86%

8

Med Sale

Granite Ridge Rd

$1,925,000

Units Sold

6

3

-50.00%

9

High Sale

Shooting Star

$3,500,000

Avg Sold Price

$2,726,667

$2,225,000

-18.40%

$2,606,000

2016 Top Sale

Granite Ridge

$3,800,000

Median Sold Price

$2,700,000

$1,925,000

-28.70%

$2,700,000

3

6

100.00%

4

New Listings Multi Family Homes

Avg Sold Price Median Sold Price

New Listings

2017 Highlights

2017 Highlights

2017 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.

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

Sales are down 30% North of Wilson, excluding the Village.

Single Family Homes

2016 Q3

2017 Q3

%

2016 Totals

Active

35

36

2.86%

24

Low Sale

Town of Wilson

$1,105,000

Pending

29

23

-20.69%

38

Med Sale

Teton Pines Timbers

$2,650,000

Units Sold

26

20

-23.08%

35

High Sale

John Dodge

$6,850,000*

Avg Sold Price

$1,902,658

$2,871,138

50.90%

$1,999,171

2016 Top Sale

Lazy Moose Ranch

$8,735,400*

Median Sold Price

$1,522,500

$2,533,875

66.43%

$1,640,000

43

44

2.33%

2016 Q3

2017 Q3

%

2016 Totals

Active

24

11

-54.17%

3

Low Sale

Aspens

$390,000

Pending

28

19

-32.14%

35

Med Sale

Aspens

$659,000

Units Sold

23

14

-39.13%

31

High Sale

Aspens

$1,350,000

Avg Sold Price

$570,594

$689,834

20.90%

$601,596

2016 Top Sale

Teton Pines

$1,875,000

Median Sold Price

$550,000

$664,500

20.82%

$550,000

New Listings

47

30

-36.17%

Building Sites

2016 Q3

2017 Q3

%

2016 Totals

Active

12

10

-16.67%

8

Low Sale

Teton Pines / Timbers

$400,000

Pending

10

5

-50.00%

10

Med Sale

Teton Pines

$1,200,000

Units Sold

9

6

-33.33%

9

High Sale

John Dodge

$2,910,000

Avg Sold Price

$1,264,658

$1,505,250

19.02%

$1,264,278

2016 Top Sale

Wilderness Ranch

$3,496,000*

Median Sold Price

$1,200,000

$1,231,250

2.60%

$1,200,000

16

14

-12.50%

17

New Listings Multi-Family Homes

New Listings

2017 Highlights

2017 Highlights

2017 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.

SOUTH OF WILSON (Realtor Multi-Listing Service Statistics)

Due to inventory, South of Wilson sales are down 37% yet homesites sales are up 50%.

Single Family Homes

2016 Q3

2017 Q3

%

2016 Totals

Active

26

15

-42.31%

15

Low Sale

Indian Paintbrush

$760,000

Pending

15

13

-13.33%

2016 Totals

Med Sale

Indian Paintbrush

$960,000

Units Sold

16

10

-37.50%

19

High Sale

Indian Paintbrush

$2,875,000*

Avg Sold Price

$1,798,781

$1,284,300

-28.60%

$1,898,500

2016 Top Sale

Crescent H

$7,268,000*

Median Sold Price

$1,400,000

$1,030,000

-26.43%

$1,475,000

29

23

-20.69%

32

2016 Q3

2017 Q3

%

2016 Totals

Active

0

0

0.00%

0

Low Sale

Pending

0

0

0.00%

0

Med Sale

Units Sold

0

0

0.00%

0

High Sale

Avg Sold Price

$0

$0

0.00%

$0

2016 Top Sale

Median Sold Price

$0

$0

0.00%

$0

New Listings

0

0

0.00%

0

Building Sites

2016 Q3

2017 Q3

%

2016 Totals

Active

17

18

5.88%

16

Low Sale

Pineglen

$370,000

Pending

5

7

40.00%

5

Med Sale

Indian Paintbrush

$795,000

Units Sold

4

6

50.00%

5

High Sale

Wilson Prairie

$2,300,000

Avg Sold Price

$1,352,500

$968,333

-28.40%

$3,639,600

2016 Top Sale

Fall Creek Rd

$12,788,000*

Median Sold Price

$1,077,500

$710,000

-34.11%

$1,600,000

11

16

45.45%

13

New Listings Multi-Family Homes

New Listings

2017 Highlights

2017 Highlights

2017 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.

CENTRAL VALLEY

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

Central Valley inventory is weakening with sales increasing across the board. C.V. multi family homes new listing attrition is non-existent, 83% down.

Single Family Homes

2016 Q3

2017 Q3

%

2016 Totals

Active

33

24

-27.27%

19

Low Sale

Gros Ventre W

$900,000

Pending

12

12

0.00%

22

Med Sale

Skyline

$1,520,000

Units Sold

11

16

45.45%

19

High Sale

Indian Springs

$6,700,000*

Avg Sold Price

$3,974,227

$2,558,775

-35.62%

$3,970,342

2016 Top Sale

Indian Springs

$10,250,000

Median Sold Price

$3,175,000

$1,867,500

-41.18%

$2,800,000

30

4

-86.67%

2016 Q3

2017 Q3

%

2016 Totals

Active

5

2

-60.00%

4

Low Sale

Teton Shadows

$605,000

Pending

3

3

0.00%

6

Med Sale

Harvest Dance

$635,000

Units Sold

5

4

-20.00%

6

High Sale

JHG&T Cabin

$1,895,000

Avg Sold Price

$904,000

$973,125

7.65%

$879,500

2016 Top Sale

Spirit Dance

$1,900,000

Median Sold Price

$660,000

$696,250

5.49%

$748,000

New Listings

6

1

-83.33%

Building Sites

2016 Q3

2017 Q3

%

2016 Totals

Active

51

43

-15.69%

38

Low Sale

N US-89 HWY

$273,423

Pending

13

12

-7.69%

14

Med Sale

JHG&T (Old)

$535,000

Units Sold

7

11

57.14%

9

High Sale

E Gros Ventre Butte

$5,520,000*

Avg Sold Price

$2,129,286

$1,416,566

-33.47%

$1,940,333

2016 Top Sale

Bar BC East

$7,360,000*

Median Sold Price

$1,150,000

$1,100,000

-4.35%

$1,150,000

38

29

-23.68%

40

New Listings Multi Family Homes

New Listings

2017 Highlights

2017 Highlights

2017 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.

NORTH VALLEY

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

Single family inventory maintains yet sales dip 21%. Bulding sites off 49% avg sales price.

Single Family Homes

2016 Q3

2017 Q3

%

2016 Totals

Active

22

24

9.09%

17

Low Sale

Kelly

$3,775,000

Pending

15

12

-20.00%

17

Med Sale

Grand Teton Circle

$5,000,000

Units Sold

14

11

-21.43%

19

High Sale

Bar B Bar

$7,268,000*

Avg Sold Price

$1,446,170

$2,036,682

40.83%

$1,727,231

2016 Top Sale

Kelly

$7,775,000*

Median Sold Price

$1,090,000

$1,219,000

11.83%

$1,280,000

25

20

-20.00%

28

2016 Q3

2017 Q3

%

2016 Totals

New Listings Multi-Family Homes Active

2017 Highlights

2017 Highlights

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

Pending Units Sold Avg Sold Price Median Sold Price New Listings Building Sites

2016 Q3

2017 Q3

%

2016 Totals

Active

40

33

-17.50%

30

Low Sale

Pacific Creek

$1,250,000

Pending

11

9

-18.18%

13

Med Sale

Moulton Loop

$1,925,000

Units Sold

10

8

-20.00%

11

High Sale

Owl Creek

$3,500,000

Avg Sold Price

1,580,400

$795,000

-49.70%

$1,490,364

2016 Top Sale

Grand Teton Ranch

$3,800,000*

Median Sold Price

$951,000

$837,500

-11.93%

$890,000

25

15

-40.00%

25

New Listings

2017 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.

TOWN OF JACKSON (Realtor Multi-Listing Service Statistics)

Town of Jackson is the most flat sub-market in the area.

Single Family Homes

2016 Q3

2017 Q3

%

2016 Totals

Active

29

32

10.34%

21

Low Sale

Cottonwood

$540,000

Pending

49

43

-12.24%

63

Med Sale

Cottonwood

$984,900

Units Sold

44

43

-2.27%

62

High Sale

Gill Addition

$2,075,000*

$1,024,731

$1,062,121

3.65%

$988,488

2016 Top Sale

Keats Grove

$4,600,000

$772,500

$984,900

27.50%

$775,000

61

67

9.84%

74

2016 Q3

2017 Q3

%

2016 Totals

Active

31

30

-3.23%

19

Low Sale

Ponderosa Village

$280,000

Pending

77

81

5.19%

94

Med Sale

Coulter Ave

$530,000

Units Sold

68

65

-4.41%

93

High Sale

Pine Glades

$1,970,000

Avg Sold Price

$639,887

$620,538

-3.02%

$632,746

2016 Top Sale

Pearl at Jackson

$1,850,000

Median Sold Price

$494,150

$535,000

8.27%

$496,800

New Listings

101

105

3.96%

109

Building Sites

2016 Q3

2017 Q3

%

2016 Totals

Active

11

11

0.00%

17

Low Sale

Indian Trails

$575,000*

Pending

9

10

11.11%

11

Med Sale

Gill Addition

$657,800*

Units Sold

9

7

-22.22%

11

High Sale

Glenwood St

$2,346,000*

$1,029,444

$1,049,186

1.92%

$932,000

2016 Top Sale

Snow King Ave

$1,400,000

$885,000

$687,700

-22.29%

$635,000

12

15

25.00%

23

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

Avg Sold Price Median Sold Price New Listings

2017 Highlights

2017 Highlights

2017 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.

SOUTH OF JACKSON (Realtor Multi-Listing Service Statistics)

South of Town multi-family and building sites are the market leaders of increasing activity.

Single Family Homes

2016 Q3

2017 Q3

%

2016 Totals

Active

50

49

-2.00%

29

Low Sale

Rafter J

$600,000

Pending

40

32

-20.00%

55

Med Sale

Melody Ranch

$1,075,000

Units Sold

34

29

-14.71%

52

High Sale

3 Creek Ranch

$4,050,000

Avg Sold Price

$1,132,874

$1,383,647

22.14%

$1,393,033

2016 Top Sale

Ely Springs

$8,188,000*

Median Sold Price

$1,004,000

$1,075,000

7.07%

$1,015,000

80

77

-3.75%

84

2016 Q3

2017 Q3

%

2016 Totals

Active

5

1

-80.00%

2

Low Sale

Rafter J

$520,000

Pending

10

6

-40.00%

8

Med Sale

Rafter J

$577,500

Units Sold

5

9

80.00%

6

High Sale

Rafter J

$700,000

Avg Sold Price

$612,850

$603,611

-1.51%

$624,375

2016 Top Sale

Rafter J

$644,250

Median Sold Price

$610,000

$600,000

-1.64%

$627,125

New Listings

10

8

-20.00%

15

Building Sites

2016 Q3

2017 Q3

%

2016 Totals

Active

49

34

-30.61%

45

Low Sale

Rafter J

$300,000

Pending

12

22

83.33%

13

Med Sale

Melody Ranch

$620,000

Units Sold

8

21

400.00%

13

High Sale

3 Creek Ranch

$3,036,000*

Avg Sold Price

$843,375

$858,829

1.83%

$868,146

2016 Top Sale

SR Sport Club

$2,479,000*

Median Sold Price

$639,100

$650,000

1.71%

$653,200

35

34

-2.86%

38

New Listings Multi-Family Homes

New Listings

2017 Highlights

2017 Highlights

2017 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.

All Properties MLS

2016 Q3

2017 Q3

%

2016 Totals

Active

471

403

-14.44%

347

Pending

392

348

-11.22%

473

332 $1,242,480

311 $1,238,934

-6.33% -0.29%

452 $1,359,270

$850,000

$894,500

5.24%

$875,000

611

587

-3.93%

690

Units Sold Avg Sold Price Median Sold Price New Listings

* 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.

ALL OF TETON COUNTY Single Family Homes

2016 Q3

2017 Q3

%

2016 Totals

Active

198

189

-4.55%

132

Low Sale

Kelly

$503,000

Pending

173

140

-19.08%

219

Med Sale

Town of Wilson

$1,250,000

Units Sold

150

133

-11.33%

211

High Sale

Teton Village

$7,268,000*

Avg Sold Price

$1,612,392

$1,794,132

11.27%

$1,753,942

2016 Top Sale

Indian Springs

$10,250,000

Median Sold Price

$1,123,161

$1,263,500

12.50%

$1,123,161

274

279

1.82%

307

New Listings

SINGLE FAMILY HOMES SOLD Q3 2017

Multi-Family Homes

2017 Highlights

96

29

8

$0 - $2M

$2M - $5M

$5M-$8M

2016 Q3

2017 Q3

%

2016 Totals

Active

88

62

-29.55%

56

Low Sale

Ponderosa Village

$280,000

Pending

154

139

-9.74%

180

Med Sale

Spring Creek

$635,000

Units Sold

2017 Highlights

129

116

-10.08%

174

High Sale

Shooting Star

$4,250,000

Avg Sold Price

$764,250

$812,372

6.30%

$778,667

2016 Top Sale

Four Seasons

$5,500,000

Median Sold Price

$570,000

$622,500

9.21%

$577,500

197

179

-9.14%

223

New Listings

MULTI FAMILY HOMES SOLD Q3 2017

Building Sites

93

16

7

$0 - $1M

$1M - $2M

$2M+

2016 Q3

2017 Q3

%

2016 Totals

Active

185

152

-17.84%

159

Low Sale

N US-89 HWY

$273,423

Pending

65

69

6.15%

74

Med Sale

Bluebell

$759,000*

Units Sold

53

62

16.98%

67

High Sale

E Gros Ventre

$5,520,000*

Avg Sold Price

$1,506,972

$1,110,297

-26.32%

$1,618,290

2016 Top Sale

Fall Creek

$12,788,000*

Median Sold Price

$1,150,000

$797,500

-30.65%

$1,100,000

140

129

New Listings BUILDING SITES SOLD Q3 2017

-7.86% 53 $0 - $2M

2017 Highlights

160

8

1

$2M - $5M

$5M+

* 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.

CHRISTIE’S ART & ARCHITECTURE

Established in London more than 240 years ago by James Christie, the auction house today is a renowned international organization that conducts some of the most important auctions in the world.

The Christie’s brand exudes quality and prestige, while honoring the traditional values established throughout its illustrious history. An inventive lead-generation system between Christie’s and Christie’s International Real Estate creates a mutually beneficial synergy between art and real estate, building a world-class platform for the highly targeted marketing of distinguished properties.

CHRISTIES.COM

Christie’s Education is unique in being wholly owned by Christie’s Auction House, signaling the importance Christie’s places on practical experience of art through education as the key to professional success. As the only major auction house to directly offer degree and non-degree programmes, Christie’s Education continue to follow the principles of hands-on exposure to art, immersing our students in the art world from the beginning of their studies.

CHRISTIE’S EDUCATION

CHRISTIE’S INTERNATIONAL REAL ESTATE

CHRISTIES.EDU

Supported by the esteemed art auction house, Christie’s International Real Estate is a global network offering exclusive home and luxury real estate services to buyers and sellers worldwide. The Christie’s brand is instantly recognizable to clients and distinguishes your property from others. We focus exclusively on luxury residential real estate and understand how to reach and serve discerning clientele. Along with this expertise, we offer you the tailored, trusted service that our clients have depended on for 250 years, collaboration with our auction house colleagues, and referrals from our network of the world’s top brokers.

CHRISTIESREALESTATE.COM

Christie’s Travel in association with Abercrombie & Kent, is dedicated to connecting clients with the most important milestone events, masterpiece works and collections, as well as undiscovered artists and trends that comprise the multi-national world of Art today. This unique travel program is made possible through the powerful combination of Christie’s 250 years’ experience in the art market, and offices in 32 countries with leading experts in over 60 Art departments.

CHRISTIE’S TRAVEL

CHRISTIES.COM/TRAVEL

M AR K E T HIGHLIGHTS SALES DISTRIBUTION BY SEGMENT

220

SINGLE FAMILY

36%

TRANSACTIONS UNDER $1 MILLION

CONDO/TOWNHOME

36%

VACANT LAND

19%

151

26

OTHER

10%

TRANSACTIONS $1-5 MILLION

SALES DISTRIBUTION BY PRICE

TRANSACTIONS $5 MILLION+

UNDER $500K

18%

37%

26%

HIGHEST SALE $53,000,000

*List Price

LOWEST SALE $273,423 (14% increase) *statistics are cumulative Q1-Q3

12%

7%

$500K-$1M

$1M-$2M

$2-$5M

OVER $5M

Q3 2017 Overall Market

When comparing the first three quarters of 2017 to the same period in 2016, the Jackson Hole real estate market remained steadfast. With inventory in short supply (down 11%), the number of transactions kept pace with last year. Nonetheless, demand for property in Jackson Hole remained very strong, which contributed to the increase in average sale price. The price segment with the most market share was the $500,000 - $1 million price segment with 37% of total transactions. The Town of Jackson had a 7% increase in transactions. The area furthest south of Jackson experienced the largest increase in transactions, up about 50% over last year. Approximately 43% of the transactions this year were cash transactions.

The overall market continued to experience a lack of inventory, down 11%. New, realistically-priced properties sold the quickest.

In fact, the average number of days a property was on the market dropped 28% when compared to a year ago.

463

TOTAL NUMBER OF TRANSACTIONS Q3 2017

-1% decrease

compared to Q3 2016

$1,546,025

AVERAGE SALE PRICE Q3 2017

$875,000 0% change

compared to Q3 2016

17% increase

compared to Q3 2016

MEDIAN SALE PRICE Q3 2017

-11%

DECREASE IN INVENTORY

SOLD | List Price: $2,200,000 | North of Jackson

Q3 2017 Single Family

# of Single Family Transactions 165

The number of single family home transactions dropped by about 13% when compared to the same period in 2016. However, prices continued to rise with the median home price reaching over $1,250,000. As home prices rise, buyers are looking toward comparatively priced vacant land. The majority of single family transactions (41%) were in the $1 million-$2 million price segment. The number of homes under contract was up 22% over last year.

% Change in Transactions from 2016 -13% Minimum Price Sold $503,000 Maximum Price Sold $53,000,000 Average Sale Price $2,086,799 Median Sale Price $1,252,500

-13%

NUMBER OF TRANSACTIONS

*statistics are cumulative Q1-Q3

7%

TOTAL DOLLAR VOLUME

25%

AVERAGE SALE PRICE

-1%

INVENTORY

Average Days on the Market 211 # Pending Transactions 33

*List Price

Q3 2017 Condominium & Townhome

# of Condominium/Townhome Transactions 168

Condominium/townhome transactions increased modestly from last year, up about 4%.

The average sale price experienced a large increase, up about 57%, primarily due to the completion of many pre-sold “cabins” in the Shooting Star development in Teton Village. The condominium/townhome segment was unquestionably the most competitive segment of the market. The perpetually low inventory coupled with the strong demand for affordable housing drove the average number of days on market down 43%. Based on the number of active listings at the time this report was written, there was less than 3 months’ worth of inventory on the market.

% Change in Transactions from 2016 4% Minimum Price Sold $280,000 Maximum Price Sold $6,500,000 Average Sale Price $1,202,390 Median Sale Price $600,000

4%

NUMBER OF TRANSACTIONS

55%

TOTAL DOLLAR VOLUME

57%

AVERAGE SALE PRICE

-22% INVENTORY

Average Days on the Market 123 # Pending Transactions 24

SOLD | List Price: $1,012,500 | Teton Village

SOLD | List Price: $1,295,000 | North of Jackson

Q3 2017 Vacant Land

# of Vacant Land Transactions 86

The number of vacant land transactions continued to out pace the previous year, up about 13%. The average and median sale prices were both down. This was due to a shift in the price segment where transactions took place. Over 43% of the transactions took place in the $500,000-$1 million price segment, which was more than double the amount when compared to this time last year. Following suit with the overall market, the number of active listings and average number of days on the market dropped.

% Change in Transactions from 2016 13% Minimum Price Sold $273,423 Maximum Price Sold $10,000,000 Average Sale Price $1,152,313 Median Sale Price $760,000

13%

NUMBER OF TRANSACTIONS

*statistics are cumulative Q1-Q3

-6%

TOTAL DOLLAR VOLUME

-17% AVERAGE SALE PRICE

-21% INVENTORY

Average Days on the Market 409 # Pending Transactions 16

*List Price

Q3 2017 Luxury

# of Luxury Transactions 35

The luxury segment, defined as transactions over $3 million, remained steady through the first three quarters of 2017 compared to a year ago with only 1 additional transaction.

While the average sale price appeared to have a 25% increase, this figure was skewed by a luxury home transaction in Wilson, Wyoming listed at $53 million. There were 6 vacant land transactions and 29 luxury home transactions. The vast majority of transactions took place in Teton Village. In contrast to other segments of the market, buyers in the luxury market overwhelmingly prefer cash transactions. Over 68% of the buyers in this segment purchased with cash. There were 12 luxury listings under contract at the time this report was written. Note: In the luxury segment, the small number of transactions affects any comparison on a percentage basis.

% Change in Transactions from 2016 3% Minimum Price Sold $3,050,000 Maximum Price Sold $53,000,000

*List Price

Average Sale Price $5,821,210 Median Sale Price $4,050,000 Average Days on the Market 345

3%

NUMBER OF TRANSACTIONS

26%

TOTAL DOLLAR VOLUME

25%

# Pending Transactions 12

AVERAGE SALE PRICE

SOLD | List Price: $3,995,000 | North of Town

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.

270 West Pearl Ave, Suite 101 Jackson, WY 83001

WWW.TNGJH.COM