2020 Quarter 1 Jackson Hole Market Report

2020 Quar ter 1

S T AT I S T I C A L P R E S E N T AT I O N Jackson Hole Real Estate Market Luxur y Repor t of Jackson Hole The NeVille Group Real Estate

Christie’s International Real Estate GLOBAL AFFILIATE OF THE YEAR 2014 | 2011

Dear Friends & Clients, We are pleased to present to you this Q1 2020 statistical presentation of the real estate markets in Jackson Hole, Teton County, Wyoming.

For over 25 years, The NeVille Group has provided statistical information and formal presentations exclusively to our clients and a few local banking and mortgage companies. Now, we share this data with our community. This report compares Q1 of 2019 to Q1 of 2020.

You will find segmented data on seven sub-markets within Teton County and the entire market combined. The sub-markets are Teton Village, North of Wilson, South of Wilson, Central Valley, Northern Valley, Town of Jackson and South of Jackson.

Q1 of 2020, as you would expect, has shown a cool down in the number of transactions in the month of March. However dollar volume was substantial due to two large sales, which The NeVille Group was fortunate enough to be apart of. Overall inventory decreased 17% in Q1 2020 compared to Q1 of 2019.

The average sale price for all properties experienced a large 11% jump, mostly due to the larger sales noted above.

As always, we are here to discuss your goals whether you are buying, selling or holding real estate in Jackson Hole.

Sincerely,

David A. NeVille Associate Broker

Shawn M. Asbell Sales Associate

Rad Spencer Associate Broker

Most data in the following graphs is pulled from the local MLS to more specifically show the most accurate recorded data available to make the information more applicable to the market in your neighborhood. We do include information on sales outside of the MLS when verifiable, and use total numbers sold, % of sales closed in MLS etc.

307.734.9949 • 307.690.3209 www.thenevillegroup.com 270 West Pearl Ave, Jackson, WY 83001

W HY JACKSON HOLE? Jackson Hole, Wyoming is a vibrant, mountain community - home to the stunning Grand Teton Mountain range, Grand Teton & Yellowstone National Parks, and the Bridger Teton National Forest. Designated as one of the most fit and philanthropic regions in the nation, Jackson Hole residents enjoy healthy lifestyles and are deeply engaged in their community. Wyoming is the most “tax-friendly� state in the United States - providing Jackson Hole with an incredible community of people, food, the arts, outdoors and wildlife, making Teton County one of the most sought-after lifestyle locations in the world.

All Properties

2019 Q1

2020 Q1

%

2019 Totals

334

277

-17.07%

198

Pending

58

38

-34.48%

29

Units Sold

94

92

-2.13%

505

Avg Sold Price

$2,089,019

$2,302,518

10.22%

$1,782,569

Median Sold Price

$1,520,000

$1,290,000

-15.13%

$1,100,000

126

124

-1.59%

744

Active

New Listings

33% SOLD properties reported through MLS Q1 2020 28% SOLD properties reported through MLS Q1 2019

307.734.9949

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AL L OF T E TON COUNT Y SINGLE FAMILY HOMES SOLD Q1 - Q4 2019

Teton County Active

20

16

6

4

$0 - $2M

$2M - $5M

$5M-$8M

$8M+

2019 Q1

2020 Q1

% Change

2019 Totals

2020 Highlights

144

126

-12.50%

101

Low Sale

Turpin Meadow

$505,000

Pending

17

21

23.53%

12

Med Sale

Teton Pines

$2,125,000

Units Sold

48

46

-4.17%

223

High Sale

Fern Lane

13,294,000*

Avg Sold Price

$3,013,956

$3,273,308

8.61%

$2,638,324

2019 Top Sale

Teal Trace

$17,750,000

Median Sold price

$2,140,000

$2,125,000

-0.70%

$1,800,000

39

52

33.33%

367

New Listings

21

MULTI FAMILY HOMES SOLD Q1 - Q4 2019

$0 - $1M

Teton County

7

2

$1M - $2M

$2M+

2019 Q1

2020 Q1

% Change

2019 Totals

Active

74

61

-17.57%

36

Low Sale

Virginian Condo

$330,000

Pending

28

9

-67.86%

10

Med Sale

Rafter J SE Forty

$745,000

Units Sold

39

30

-23.08%

213

High Sale

Granite Ridge

$4,450,000

Avg Sold Price

$895,459

$1,060,450

18.43%

$835,460

2019 Top Sale

Granite Ridge

$4,450,000

Median Sold price

$600,000

$755,000

25.83%

$660,000

68

50

-26.47%

246

New Listings BUILDING SITES SOLD Q1 - Q4 2019

Teton County

2020 Highlights

4

6

5

1

$0 - $1M

$1M - $2M

$2M-$5M

$5M+

2019 Q1

2020 Q1

% Change

2019 Totals

Active

116

90

-22.41%

61

Low Sale

Pacific Creek

$415,000

Pending

13

8

-38.46%

7

Med Sale

Snake River Woods

$1,425,000

Units Sold

7

16

128.57%

69

High Sale

Lake Creek Ranch

$5,550,000

2,396,429

$1,867,559

-22.07%

$1,940,551

2019 Top Sale

Bar BC

$8,234,000*

900,000

$1,425,000

58.33%

$1,132,500

19

22

15.79%

131

Avg Sold Price Median Sold price New Listings

2020 Highlights

Inventory is becoming tighter and tigher year after year I N A L L C AT E G O R I E S - S I N G L E FA M I LY, M U LT I FA M I LY & B U I L D I N G S I T E S

* All statistics are supplied by sources that have been deemed reliable but are not guaranteed.

307.734.9949

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*Sales price was “UNDISCLOSED” 92% of list price was used

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 worldclass 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

US $95 Billion

57 Million

SALES VOLUME

ANNUAL WEBSITE VISITORS

US $70 Billion

Sotheby’s International Realty

NUMBER OF OFFICES

Sotheby’s International Realty

The Affiliate Network spans the globe with 138 brokerages in 46 countries, operating out of 1,350 offices with more than 32,000 associate brokers.

32,000

1,350

Christie’s International Real Estate

Christie’s International Real Estate

760

Sotheby’s International Realty

NUMBER OF AGENTS

Christie’s International Real Estate

11 Million

Christie’s International Real Estate

307.734.9949

Christie’s International Real Estate is an invitation-only affiliate network comprised of the world’s most proven and qualified real estate specialists in the luxury residential sector, and is the only international luxury real estate network wholly-owned by an international art auction house.

By cultivating a unique balance of worldwide scope and highly personalized service, Christie’s International Real Estate has become a global authority on the effective marketing of distinctive properties. A finely tuned suite of programs, and a commitment to the business philosophy established

by Christie’s in 1766, defines a brand based on trust, integrity, discretion, and excellence.

16,500

Sotheby’s International Realty

tngjh.com

Each affiliated brokerage is required to meet a set of scrupulous standards before being invited to join the Network. To qualify, brokerages must demonstrate an established track record in the marketing and sale of distinctive properties, as well as a sterling reputation for excellence in customer service.

Single Family Homes

TETON VILLAGE 2019 Q1

2020 Q1

% Change

2019 Totals

Active

9

7

-22.22%

8

Low Sale

Granite Ridge

$3,150,000

Pending

1

0

-100.00%

1

Med Sale

-

-

Units Sold

2

5

150.00%

6

High Sale

Shooting Star

$9,890,000*

$6,520,000

$5,859,000

-10.14%

$8,741,333

2019 Top Sale

Shooting Star

$16,000,000

$6,520,000

$5,300,000

-18.71%

$7,845,000

New Listings

3

2

-33.33%

14

Multi - Family Homes

2019 Q1

2020 Q1

% Change

2019 Totals

Active

12

16

33.33%

10

Low Sale

Sleeping Indian

$535,000

Pending

6

0

-600.00%

1

Med Sale

Terra

$1,845,000

Units Sold

10

6

-40.00%

44

High Sale

Granite Ridge

$4,450,000

Avg Sold Price

$1,325,950

$2,320,000

74.97%

$1,536,477

2019 Top Sale

Four Seasons

$4,100,000

Median Sold Price

$1,286,250

$1,860,000

44.61%

$1,009,500

New Listings

14

14

0.00%

41

Building Sites

2019 Q1

2020 Q1

% Change

2019 Totals

Active

3

2

-33.33%

2

Low Sale

Old Village

$2,645,000

Pending

0

1

100.00%

0

Med Sale

-

-

Units Sold

0

2

100.00%

2

High Sale

Old Village

$2,800,000

Avg Sold Price

$0

$2,722,500

0.00%

$2,550,000

2019 Top Sale

McCollister Drive

$2,300,000

Median Sold Price

$0

-

0.00%

$2,550,000

New Listings

0

2

200.00%

1

Avg Sold Price Median Sold Price

* All statistics are supplied by sources that have been deemed reliable but are not guaranteed.

307.734.9949

2020 Highlights

2020 Highlights

2020 Highlights

tngjh.com

*Sales price was “UNDISCLOSED” 92% of list price was used

Single Family Homes

NORTH OF WILSON 2019 Q1

2020 Q1

% Change

2019 Totals

20

14

-30.00%

17

Low Sale

Coyote Loop

$1,100,000

Pending

5

3

-40.00%

2

Med Sale

West Street

$2,530,000*

Units Sold

10

11

10.00%

38

High Sale

Teton Pines

$5,101,400*

Avg Sold Price

$3,729,000

$2,905,582

-22.08%

$3,601,747

2019 Top Sale

Lake Creek Ranch

$7,600,000

Median Sold Price

$3,387,500

$2,530,000

-25.31%

$2,832,500

New Listings

5

9

80.00%

49

Multi - Family Homes

2019 Q1

2020 Q1

% Change

2019 Totals

Active

16

6

-62.50%

4

Low Sale

Junipers/Aspens

$490,000

Pending

3

3

0.00%

0

Med Sale

-

-

Units Sold

2

2

0.00%

20

High Sale

Hollyhock/Aspens

$529,000

Avg Sold Price

$1,347,500

$509,500

-62.19%

$845,622

2019 Top Sale

Teton Pines/Lodges

$1,825,000

Median Sold Price

Active

2020 Highlights

2020 Highlights

$1,347,500

-

-

$699,500

New Listings

4

5

25.00%

25

Building Sites

2019 Q1

2020 Q1

% Change

2019 Totals

Active

14

7

-50.00%

12

Low Sale

Bluebell - Robin Ln

$1,300,000

Pending

0

0

0.00%

0

Med Sale

Wilson - Kennel Ln

$1,900,000

Units Sold

0

4

400.00%

8

High Sale

Lake Creek Ranch

$5,550,000

Avg Sold Price

$0

$2,774,000

27740.00%

$1,335,000

2019 Top Sale

John Dodge

$2,250,000

Median Sold Price

$0

$2,123,000

21230.00%

$1,267,500

4

0

-400.00%

21

New Listings

* All statistics are supplied by sources that have been deemed reliable but are not guaranteed.

307.734.9949

2020 Highlights

tngjh.com

*Sales price was “UNDISCLOSED” 92% of list price was used

Single Family Homes

SOUTH OF WILSON 2019 Q1

2020 Q1

% Change

2019 Totals

Active

30

14

-53.33%

19

Low Sale

Indian Paintbrush

$1,025,000

Pending

0

3

300.00%

1

Med Sale

-

-

Units Sold

5

2

-60.00%

20

High Sale

Wilson Prairie

$5,400,000

Avg Sold Price

$3,140,000

$3,212,500

2.31%

$3,099,675

2019 Top Sale

Teal Trace

$17,750,000

Median Sold Price

$1,800,000

-

-

$1,683,000

New Listings

4

3

-25.00%

43

Multi - Family Homes

2019 Q1

2020 Q1

% Change

2019 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

2019 Top Sale

-

-

Median Sold Price

$0

$0

0.00%

$0

New Listings

0

0

0.00%

0

Building Sites

2019 Q1

2020 Q1

% Change

2019 Totals

Active

13

10

-23.08%

9

Low Sale

-

-

Pending

4

0

-400.00%

0

Med Sale

-

-

Units Sold

1

0

-100.00%

9

High Sale

-

-

Avg Sold Price

$0

$0

100.00%

$2,914,222

2019 Top Sale

Wenzel Lane

$5,600,000

Median Sold Price

$0

$0

100.00%

$2,300,000

New Listings

0

3

300.00%

7

* All statistics are supplied by sources that have been deemed reliable but are not guaranteed.

307.734.9949

2020 Highlights

2020 Highlights

2020 Highlights

tngjh.com

*Sales price was “UNDISCLOSED” 92% of list price was used

C E N T R A L VA L L E Y Single Family Homes

2019 Q1

2020 Q1

% Change

2019 Totals

22

21

-4.55%

17

Low Sale

Gros Ventre North

$7,200,000

Pending

1

1

0.00%

0

Med Sale

-

-

Units Sold

7

2

-71.43%

23

High Sale

Amangani

$10,500,000

Avg Sold Price

$4,825,429

$8,850,000

83.40%

$4,331,713

2019 Top Sale

Indian Springs

$14,260,000*

Median Sold Price

$2,785,000

-

-

$3,200,000

New Listings

3

7

133.33%

32

Multi - Family Homes

2019 Q1

2020 Q1

% Change

2019 Totals

Active

2020 Highlights

2020 Highlights

Active

5

9

80.00%

7

Low Sale

Spring Creek Ranch

$825,000

Pending

1

0

-100.00%

0

Med Sale

Golf Creek Ranch

$849,000

Units Sold

2

3

50.00%

11

High Sale

Spring Creek Ranch

$1,290,000

Avg Sold Price

$690,000

$988,000

43.19%

$795,364

2019 Top Sale

Golf Creek Ranch

$1,200,000

Median Sold Price

$690,000

$849,000

23.04%

$760,000

New Listings

0

4

600.00%

16

Building Sites

2019 Q1

2020 Q1

% Change

2019 Totals

Active

25

18

-28.00%

17

Low Sale

Fairway Estates

$1,270,000

Pending

2

0

-100.00%

2

Med Sale

Grand View Estates

$1,595,000

Units Sold

3

4

33.33%

18

High Sale

Spring Creek Rd

$4,825,000

-39.31%

$3,178,806

2019 Top Sale

Bar BC

$8,234,000*

Avg Sold Price

$3,783,333

$2,296,250

Median Sold Price

$2,850,000

$1,545,000

-45.79%

$2,350,000

3

2

-33.33%

21

New Listings

* All statistics are supplied by sources that have been deemed reliable but are not guaranteed.

307.734.9949

2020 Highlights

tngjh.com

*Sales price was “UNDISCLOSED” 92% of list price was used

N O R T H VA L L E Y Single Family Homes

2019 Q1

2020 Q1

% Change

2019 Totals

Active

27

24

-11.11%

22

Low Sale

Turpin Meadows

$505,000

Pending

0

1

100.00%

0

Med Sale

Teton Wilderness

$872,500

Units Sold

3

3

0.00%

19

High Sale

Fern Lane

$13,294,000*

Avg Sold Price

$2,650,133

$4,890,500

84.54%

$1,630,363

2019 Top Sale

Solitude

$5,055,400*

Median Sold Price

$1,900,000

$872,500

-54.08%

$1,410,000

New Listings

2

4

100.00%

44

Multi - Family Homes

2019 Q1

2020 Q1

% Change

2019 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

2019 Top Sale

-

-

Median Sold Price

$0

$0

0.00%

$0

New Listings

0

0

0.00%

0

Building Sites

2018 Q1

2020 Q1

% Change

2019 Totals

Active

2020 Highlights

2020 Highlights

2020 Highlights

30

23

-23.33%

21

Low Sale

Pacific Creek

$415,000

Pending

3

5

0.00%

2

Med Sale

Solitude

$925,000

Units Sold

1

3

200.00%

14

High Sale

Snake River Woods

$1,425,000

Avg Sold Price

$0

$921,667

9216.67%

$1,010,107

2019 Top Sale

Zenith Drive

$3,500,000

Median Sold Price

$0

$925,000

9250.00%

$862,000

2

6

200.00%

31

New Listings

* All statistics are supplied by sources that have been deemed reliable but are not guaranteed.

307.734.9949

tngjh.com

*Sales price was “UNDISCLOSED� 92% of list price was used

TOWN OF JACKSON Single Family Homes

2019 Q1

2020 Q1

% Change

2019 Totals

Active

12

19

58.33%

19

Low Sale

Cache Creek Dr

$887,500

Pending

2

3

50.00%

4

Med Sale

Henley Road

$1,695,000

Units Sold

13

12

-7.69%

58

High Sale

Saddle Butte

$4,135,400*

Avg Sold Price

$1,827,423

$1,987,200

8.74%

$1,606,008

2019 Top Sale

S Cache Street

$4,150,000

Median Sold Price

$1,500,000

$1,757,500

17.17%

$1,250,000

New Listings

8

11

37.50%

87

Multi - Family Homes

2019 Q1

2020 Q1

% Change

2019 Totals

Active

39

28

-28.21%

26

Low Sale

Virginian Condo

$330,000

Pending

18

6

-66.67%

10

Med Sale

East Jackson

$740,000

Units Sold

23

17

-26.09%

132

High Sale

Love Ridge

$1,500,000

$711,887

$737,382

3.58%

$683,496

2019 Top Sale

Pearl @ Jackson

$1,950,000

$465,000

$740,000

59.14%

$575,000

New Listings

49

25

-48.98%

154

Building Sites

Avg Sold Price Median Sold Price

2020 Highlights

2020 Highlights

2018 Q1

2020 Q1

% Change

2019 Totals

Active

8

5

-37.50%

7

Pending

2

2

0.00%

2

Med Sale

-

-

Units Sold

2

1

-50.00%

7

High Sale

East Jackson

$1,050,000

Avg Sold Price

$662,500

$0

-100.00%

$843,571

2019 Top Sale

Hansen Ave

$1,525,000

Median Sold Price

$662,500

$0

-100.00%

$850,000

4

5

25.00%

17

New Listings

* All statistics are supplied by sources that have been deemed reliable but are not guaranteed.

307.734.9949

2020 Highlights Low Sale

tngjh.com

-

-

*Sales price was “UNDISCLOSED” 92% of list price was used

SOUTH OF JACKSON Single Family Homes

2019 Q1

2020 Q1

% Change

2019 Totals

Active

24

27

12.50%

26

Low Sale

Rafter J

$1,000,000

Pending

8

10

25.00%

4

Med Sale

Rafter J

$1,050,000

Units Sold

8

11

37.50%

57

High Sale

3 Creek

$10,810,000

$1,644,375

$2,424,807

47.46%

$2,055,807

2019 Top Sale

SR Sporting Club

$9,108,000*

$1,542,500

$1,110,000

-28.04%

$1,739,000

New Listings

14

16

14.29%

98

Multi - Family Homes

2019 Q1

2020 Q1

% Change

2019 Totals

Active

2

2

0.00%

0

Low Sale

Rafter J SE Forty

$630,000

Pending

0

0

0.00%

0

Med Sale

-

-

2

2

0.00%

8

High Sale

Rafter J Cedarwoods

$745,000

Avg Sold Price

$607,500

$687,500

13.17%

$581,250

2019 Top Sale

Walden Pond

$755,000

Median Sold Price

Avg Sold Price Median Sold Price

Units Sold

$607,500

-

-

$637,500

New Listings

1

2

100.00%

9

Building Sites

% Change

2019 Totals

2020 Highlights

2020 Highlights

2019 Q1

2020 Q1

Active

23

25

8.70%

20

Low Sale

Melody Ranch

$570,000

Pending

2

0

-100.00%

2

Med Sale

-

-

Units Sold

0

2

400.00%

12

High Sale

SR Sporting Club

$750,000

Avg Sold Price

$0

$660,000

6600.00%

$1,452,083

2019 Top Sale

Median Sold Price

$0

-

-

$1,037,500

6

4

-33.33%

33

New Listings

* All statistics are supplied by sources that have been deemed reliable but are not guaranteed.

307.734.9949

2020 Highlights

tngjh.com

*Sales price was “UNDISCLOSED” 92% of list price was used

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 we represent some of the most unique and sought-after 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. Our access covers a worldwide audience of more than 1,350 real estate offices in 46 countries and transactions resulting in over $125 billion in sales annually.

270 West Pearl Ave, Suite 101 Jackson, WY 83001

W W W. T N G J H . CO M

David A. NeVille Associate Broker 307.690.3209 davidneville@jhrea.com

Shawn M. Asbell Sales Associate 307.413.6231 shawnasbell@jhrea.com

Rad Spencer Associate Broker 404.831.2315 radcliffspencer@jhrea.com