M I D -YE A R
2017
TH E NE VI LLE GR OU P REAL E S TAT E MA RK E T RE P OR T
The Market Report Our team exclusively owns and maintains the valley’s oldest and most comprehensive database. Our market report is derived from the Jackson Hole Real Estate Associate’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 expertise 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, combined with the largest global luxury real estate network, Christie’s International Real Estate, we are able to offer the ideal balance 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.
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. We were also named by Jackson Hole Real Estate Associates “2016 Team for Professional 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 luxury real estate brand in the Teton region. By staying on top of market trends and continuing to offer cutting edge services we deliver extraordinary 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.
MA R K E T H IG H L IG H TS
5% AVERAGE SALE PRICE
-12% MEDIAN SALE PRICE
13% TOTAL DOLLAR VOLUME
Within this report you will find overall statistics on Jackson Hole residential, vacant land, commercial, and farm and ranch, as well as targeted information on 7 sub-markets we’ve identified: Teton Village, North of Wilson, South of Wilson, Central Valley, Northern Valley and Town of Jackson and South of Jackson.
10%
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.
NUMBER OF TRANSACTIONS
TETON VILLAGE (Realtor Multi-Listing Service Statistics)
SINGLE FAMILY HOMES
2016 Q1-Q2
2017 Q1-Q2
%
2016 YR END
Active
6
7
16.67%
7
Low Sale
Granite Ridge - $3,775,000
Pending
1
1
0.00%
4
Med Sale
Old Village - $5,000,000
Units Sold
4
3
-25.00%
6
High Sale
Old Village - $7,268,000*
Average Sold Price
$3,210,100
$5,347,667
66.59%
$3,969,233
Median Sold Price
$2,925,000
$5,000,000
70.94%
$3,362,500
5
2
-60.00%
10
New Listings MULTI FAMILY HOMES
2017 HIGHLIGHTS
2016 TOP SALE Old Village - $7,775,000
2016 Q1-Q2
2017 Q1-Q2
%
2016 YR END
Active
31
18
-41.94%
25
Low Sale
Snake River Lodge Spa - $305,000
Pending
1
2
100.00%
43
Med Sale
Teton Mountain Lodge - $875,000
High Sale
Shooting Star - $4,250,000
20
15
-25.00%
38
Average Sold Price
Units Sold
$1,375,662
$1,602,333
16.48%
$1,288,682
Median Sold Price
$860,375
$1,150,000
33.66%
$910,000
21
17
-19.05%
43
2016 Q1-Q2
2017 Q1-Q2
%
2016 YR END
New Listings BUILDING SITES
2017 HIGHLIGHTS
2016 TOP SALE Four Seasons - $5,500,000
2017 HIGHLIGHTS
Active
6
5
-16.67%
5
Low Sale
Curtis Drive - $1,250,000
Pending
0
1
100.00%
8
Med Sale
N/A
Units Sold
5
2
-60.00%
9
High Sale
Shooting Star - $3,500,000
Average Sold Price
$2,772,000
$2,375,000
-14.32%
$2,606,000
Median Sold Price
$2,700,000
$2,375,000
-12.04%
$2,700,000
1
6
500.00%
4
New Listings
2016 TOP SALE Granite Ridge - $3,800,000
* Sales price was “UNDISCLOSED” 92% of list price was used. * Information herein is deemed reliable but not guaranteed. Data is relative to the whole market and may not reflect every sale.
NORTH OF WILSON E XC LU D I N G T E TO N V I L L A G E (Realtor Multi-Listing Service Statistics)
SINGLE FAMILY HOMES
2016 Q1-Q2
2017 Q1-Q2
%
2016 YR END
2017 HIGHLIGHTS
Active
36
29
-19.44%
24
Low Sale
Town of Wilson - $1,250,000
Pending
2
3
50.00%
38
Med Sale
Wilson Meadows - $1,590,000
Units Sold
18
11
-38.89%
35
High Sale
John Dodge - $5,520,000*
Average Sold Price
$2,094,950
$2,697,000
28.74%
$1,999,171
Median Sold Price
$1,730,000
$2,680,000
54.91%
$1,640,000
28
24
-14.29%
47
2016 Q1-Q2
2017 Q1-Q2
%
New Listings MULTI FAMILY HOMES
2016 TOP SALE Lazy Moose Ranch - $8,735,400*
2016 YR END
2017 HIGHLIGHTS
Active
22
8
-63.64%
3
Low Sale
Aspens - $390,000
Pending
2
3
50.00%
35
Med Sale
Aspens - $715,000
Units Sold
16
9
-43.75%
31
High Sale
Aspens - $1,350,000
Average Sold Price
$558,979
$781,164
39.75%
$601,596
Median Sold Price
$532,500
$715,000
34.27%
$550,000
38
18
-52.63%
49
New Listings BUILDING SITES
2016 TOP SALE Teton Pines - $1,875,000
2016 Q1-Q2
2017 Q1-Q2
%
2016 YR END
Active
10
13
30.00%
8
Low Sale
Bluebell Subdivision - $759,000
Pending
3
2
-33.33%
10
Med Sale
Teton Pines - $1,200,000
High Sale
7 Springs Ranch - $2,500,000
3
3
0.00%
9
Average Sold Price
Units Sold
$708,125
$1,486,333
109.90%
$1,264,278
Median Sold Price
$441,875
$1,200,000
171.57%
$1,200,000
8
4
-50.00%
17
New Listings
2017 HIGHLIGHTS
2016 TOP SALE Wilderness Ranch - $3,496,000*
* Sales price was “UNDISCLOSED” 92% of list price was used. * Information herein is deemed reliable but not guaranteed. Data is relative to the whole market and may not reflect every sale.
SOUTH OF WILSON (Realtor Multi-Listing Service Statistics)
SINGLE FAMILY HOMES
2016 Q1-Q2
2017 Q1-Q2
%
2016 YR END
Active
24
23
-4.17%
15
Low Sale
Indian Paintbrush - $760,000
Pending
2
0
-100.00%
20
Med Sale
Indian Paintbrush - $830,000
High Sale
Indian Paintbrush - $2,875,000*
Units Sold
2017 HIGHLIGHTS
9
6
-33.33%
19
Average Sold Price
$2,210,056
$1,211,333
-45.19%
$1,898,500
Median Sold Price
$1,620,000
$884,000
-45.43%
$1,475,000
19
18
-5.26%
32
2016 Q1-Q2
2017 Q1-Q2
%
2016 YR END
Active
0
0
-
0
Low Sale
n/a
Pending
0
0
-
0
Med Sale
n/a
Units Sold
0
0
-
0
High Sale
n/a
Average Sold Price
$0
$0
-
$0
Median Sold Price
$0
$0
-
$0
New Listings
0
0
-
0
2016 Q1-Q2
2017 Q1-Q2
%
2016 YR END
Active
16
18
12.50%
16
Low Sale
Pineglen - $370,000
Pending
1
0
-100.00%
5
Med Sale
Indian Paintbrush - $795,000
Units Sold
1
4
300.00%
5
High Sale
Wilson Prairie - $2,300,000
Average Sold Price
$355,000
$958,750
170.07%
$3,639,600
Median Sold Price
$355,000
$582,500
64.08%
$1,600,000
8
10
25.00%
13
New Listings MULTI FAMILY HOMES
BUILDING SITES
New Listings
2016 TOP SALE Crescent H - $7,268,000*
2017 HIGHLIGHTS
2016 TOP SALE n/a
2017 HIGHLIGHTS
2016 TOP SALE Fall Creek Rd - $12,788,000*
* Sales price was “UNDISCLOSED” 92% of list price was used. * Information herein is deemed reliable but not guaranteed. Data is relative to the whole market and may not reflect every sale.
C E N T R A L VA L L E Y S N A K E R I V E R TO T H E E L K R E F U G E & H W Y 22 N O R T H TO S A G E B R U S H (Realtor Multi-Listing Service Statistics) SINGLE FAMILY HOMES
2016 Q1-Q2
2017 Q1-Q2
%
2016 YR END
Active
33
22
-33.33%
19
Low Sale
Gros Ventre West - $900,000
Pending
2
5
150.00%
22
Med Sale
Skyline - $1,520,000
Units Sold
4
9
125.00%
19
High Sale
Skyline - $3,100,000*
Average Sold Price
$5,241,875
$1,785,000
-65.95%
$3,970,342
Median Sold Price
$4,735,000
$1,520,000
-67.90%
$2,800,000
17
16
-5.88%
32
New Listings MULTI FAMILY HOMES
2017 HIGHLIGHTS
2016 TOP SALE Indian Springs - $10,250,000
2016 Q1-Q2
2017 Q1-Q2
%
2016 YR END
Active
7
8
14.29%
4
Low Sale
Harvest Drive - $635,000
Pending
0
0
0.00%
6
Med Sale
N/A
Units Sold
2
2
0.00%
6
High Sale
Golf Creek - $757,500
Average Sold Price
$703,500
$696,250
-1.03%
$879,500
Median Sold Price
$703,500
$696,250
-1.03%
$748,000
4
3
-25.00%
7
2016 Q1-Q2
2017 Q1-Q2
%
2016 YR END
Active
54
43
-20.37%
Low Sale
East Gros Ventre Butte - $273,423
Pending
3
2
-33.33%
Med Sale
Saddle Butte - $725,000
Units Sold
1
5
400.00%
High Sale
East Gros Ventre Butte - $5,520,000*
Average Sold Price
$505,000
$1,574,445
211.77%
Median Sold Price
$505,000
$725,000
43.56%
29
20
-31.03%
New Listings BUILDING SITES
New Listings
2017 HIGHLIGHTS
2016 TOP SALE Spirit Dance - $1,900,000
2017 HIGHLIGHTS
2016 TOP SALE Bar BC East - $7,360,000*
* Sales price was “UNDISCLOSED” 92% of list price was used. * Information herein is deemed reliable but not guaranteed. Data is relative to the whole market and may not reflect every sale.
N O R T H E R N VA L L E Y S A G E B R U S H TO M O R A N & S N A K E R I V E R TO K E L LY (Realtor Multi-Listing Service Statistics) SINGLE FAMILY HOMES
2016 Q1-Q2
2017 Q1-Q2
%
2016 YR END
Active
17
23
35.29%
17
Low Sale
Kelly - $503,000
Pending
3
1
-66.67%
17
Med Sale
Sagebrush Flats - $1,080,000
Units Sold
10
6
-40.00%
19
High Sale
Elk Ridge - $5,704,000*
Average Sold Price
$1,549,538
$1,756,833
13.38%
$1,727,231
Median Sold Price
$1,090,000
$1,149,500
5.46%
$1,280,000
16
16
0.00%
28
2016 Q1-Q2
2017 Q1-Q2
%
2016 YR END
New Listings
MULTI FAMILY HOMES
2017 HIGHLIGHTS
2016 TOP SALE Kelly - $6,854,000*
2017 HIGHLIGHTS
Currently there are no multi-family homes in the Northern Valley (North of Sagebrush Dr / Gros Ventre Junction)
BUILDING SITES
2016 Q1-Q2
2017 Q1-Q2
%
2016 YR END
Active
41
35
-14.63%
30
Low Sale
Pending
1
2
100.00%
13
Med Sale
Units Sold
6
2
-66.67%
11
High Sale
Average Sold Price
$858,667
$780,000
-9.16%
$1,490,364
Median Sold Price
$882,500
$780,000
-11.61%
$890,000
17
16
-5.88%
25
New Listings
2017 HIGHLIGHTS Moulton Ranch’s - $680,000
Owl Creek - $880,000 2016 TOP SALE
Grand Teton Ranch - $7,590,000*
* Sales price was “UNDISCLOSED” 92% of list price was used. * Information herein is deemed reliable but not guaranteed. Data is relative to the whole market and may not reflect every sale.
TOWN OF JACKSON (Realtor Multi-Listing Service Statistics)
SINGLE FAMILY HOMES
2016 Q1-Q2
2017 Q1-Q2
%
2016 YR END
2017 HIGHLIGHTS
Active
35
29
-17.14%
21
Low Sale
Cottonwood - $540,000
Pending
8
6
-25.00%
63
Med Sale
Cottonwood - $965,000
Units Sold
24
24
0.00%
62
High Sale
Gill Addition - $1,651,400*
Average Sold Price
$1,059,083
$1,091,354
3.05%
$988,488
Median Sold Price
$722,000
$974,950
35.03%
$775,000
40
35
-12.50%
74
New Listings MULTI FAMILY HOMES
2016 TOP SALE Keats Grove - $4,600,000
2016 Q1-Q2
2017 Q1-Q2
%
2016 YR END
Active
35
39
11.43%
19
Low Sale
Ponderosa - $280,000
Pending
8
10
25.00%
94
Med Sale
Clusters - $535,000
Units Sold
37
40
8.11%
93
High Sale
Grand View - $1,475,000
Average Sold Price
$662,800
$585,523
-11.66%
$632,746
Median Sold Price
$480,000
$525,000
9.38%
$496,800
43
65
51.16%
109
2016 Q1-Q2
2017 Q1-Q2
%
2016 YR END
Active
14
14
0.00%
17
Low Sale
Indian Trails - $575,000*
Pending
0
1
100.00%
11
Med Sale
Gill Addition - $657,800*
Units Sold
5
6
20.00%
11
High Sale
Glenwood St - $2,346,000*
Average Sold Price
$1,170,000
$990,717
-15.32%
$932,000
Median Sold Price
$1,400,000
$672,750
-51.95%
$635,000
7
11
57.14%
23
New Listings BUILDING SITES
New Listings
2017 HIGHLIGHTS
2016 TOP SALE Pearl at Jackson - $1,850,000 2017 HIGHLIGHTS
2016 TOP SALE Snow King Ave - $1,400,000
* Sales price was “UNDISCLOSED” 92% of list price was used. * Information herein is deemed reliable but not guaranteed. Data is relative to the whole market and may not reflect every sale.
SOUTH OF JACKSON (Realtor Multi-Listing Service Statistics)
SINGLE FAMILY HOMES
2016 Q1-Q2
2017 Q1-Q2
%
2016 YR END
2017 HIGHLIGHTS
Active
44
49
11.36%
29
Low Sale
Rafter J - $600,000
Pending
10
6
-40.00%
55
Med Sale
Melody Ranch - $1,075,000
Units Sold
12
15
25.00%
52
High Sale
Shootin Iron - $2,600,000*
Average Sold Price
$1,049,975
$1,233,150
17.45%
$1,393,033
Median Sold Price
$1,090,000
$1,045,000
-4.13%
$1,015,000
50
45
-10.00%
84
2016 Q1-Q2
2017 Q1-Q2
%
2016 YR END
New Listings MULTI FAMILY HOMES
2016 TOP SALE Ely Springs - $8,188,000*
2017 HIGHLIGHTS
Active
2
3
50.00%
2
Low Sale
Rafter J - $520,000
Pending
2
0
-100.00%
8
Med Sale
Rafter J - $577,500
Units Sold
2
7
250.00%
6
High Sale
Rafter J - $665,000
Average Sold Price
$550,000
$581,786
5.78%
$624,375
Median Sold Price
$550,000
$577,500
5.00%
$627,125
6
4
-33.33%
15
2016 Q1-Q2
2017 Q1-Q2
%
2016 YR END
Active
32
42
31.25%
45
Low Sale
Rafter J - $300,000
Pending
4
3
-25.00%
13
Med Sale
Melody - $620,000
Units Sold
3
11
266.67%
13
High Sale
3 Creek Ranch - $1,288,000
Average Sold Price
$491,667
$626,545
27.43%
$868,146
Median Sold Price
$425,000
$620,000
45.88%
$653,200
12
29
141.67%
38
New Listings BUILDING SITES
New Listings
2016 TOP SALE Rafter J - $644,250 2017 HIGHLIGHTS
2016 TOP SALE SR Sport Club - $2,479,400*
* Sales price was “UNDISCLOSED” 92% of list price was used. * Information herein is deemed reliable but not guaranteed. Data is relative to the whole market and may not reflect every sale.
ALL PROPERTIES MLS
2016 Q1-Q2
2017 Q1-Q2
%
2016 YR END
Active
463
428
-7.56%
347
Pending
66
59
-10.61%
473
Units Sold
134
180
34.33%
452
Average Sold Price
$1,282,441
$1,223,791
-4.57%
$1,359,270
Median Sold Price
$845,750
$777,500
-8.07%
$875,000
431
359
-16.71%
690
New Listings
* Sales price was “UNDISCLOSED” 92% of list price was used. * Information herein is deemed reliable but not guaranteed. Data is relative to the whole market and may not reflect every sale.
ALL OF TE TON CO U N T Y SINGLE FAMILY HOMES
2016 Q1-Q2
2017 Q1-Q2
%
2016 YR END
Active
191
182
-4.71%
132
Low Sale
Kelly - $503,000
Pending
29
27
-6.90%
219
Med Sale
Melody - $1,125,000
High Sale
Teton Village - $7,268,000*
81
74
-8.64%
211
Average Sold Price
Units Sold
$1,971,423
$1,679,375
-14.81%
$1,753,942
Median Sold Price
$1,280,000
$1,240,000
-3.13%
$1,123,161
175
156
-10.86%
307
New Listings SINGLE FAMILY HOMES SOLD Q1-Q2 2017
MULTI FAMILY HOMES
2017 HIGHLIGHTS
2016 TOP SALE Indian Springs - $10,250,000
59
12
3
$0 - $2M
$2M - $5M
$5M-$8M
2016 Q1-Q2
2017 Q1-Q2
%
2016 YR END
2017 HIGHLIGHTS
Active
99
74
-25.25%
56
Low Sale
Ponderosa - $280,000
Pending
26
20
-23.08%
180
Med Sale
Rafter J - $577,500
Units Sold
77
73
-5.19%
174
High Sale
Shooting Star - $4,250,000
Average Sold Price
$749,078
$821,252
9.64%
$778,667
Median Sold Price
$550,000
$600,000
9.09%
$577,500
142
111
-21.83%
223
New Listings
Four Seasons - $5,500,000
9
58
MULTI FAMILY HOMES SOLD Q1-Q2 2017
BUILDING SITES
2016 TOP SALE
6 $2M+
$1M - $2M
$0 - $1M
2016 Q1-Q2
2017 Q1-Q2
%
2016 YR END
Active
173
172
-0.58%
159
Low Sale
East Gros Ventre - $273,423
Pending
11
12
9.09%
74
Med Sale
3 Creek Ranch - $725,000
Units Sold
24
33
37.50%
67
High Sale
East Gros Ventre - $5,520,000*
Average Sold Price
$1,184,667
$1,070,076
-9.67%
$1,618,290
Median Sold Price
$880,000
$725,000
-17.61%
$1,100,000
82
92
12.20%
160
New Listings BUILDING SITES SOLD Q1-Q2 2017
2017 HIGHLIGHTS
2016 TOP SALE Fall Creek - $12,788,000*
24
4
4
1
$0 - $1M
$1M - $2M
$2M-$5M
$5M+
* Sales price was “UNDISCLOSED” 92% of list price was used. * Information herein is deemed reliable but not guaranteed. Data is relative to the whole market and may not reflect every sale.
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MA R K E T H IG H L IG H TS SALES DISTRIBUTION BY SEGMENT SINGLE FAMILY
35%
136
TRANSACTIONS UNDER $1 MILLION
CONDO/TOWNHOME
38%
VACANT LAND
16%
83
13
OTHER
10%
TRANSACTIONS $1-5 MILLION
SALES DISTRIBUTION BY PRICE
TRANSACTIONS $5 MILLION+
UNDER $500K
19%
40%
25%
HIGHEST SALE $53,000,000 (list price) LOWEST SALE $273,423 * Statistics are cumulative.
11%
6%
$500K-$1M
$1M-$2M
$2-$5M
OVER $5M
Mid Year 2017 Overall Market
292
TOTAL NUMBER OF TRANSACTIONS MID-YEAR 2017
10% increase
When comparing the first half of 2017 to the first half of 2016, the overall number of transactions increased 10%. The area furthest south of Jackson experienced the largest increase in transactions, up about 1200%. The Town of Jackson continued in popularity garnering the most transactions of any area in the valley with 115 transactions. The price segment with the most market share was the $500,000 - $1 million price segment, 40% of the transactions. Approximately 40% of the transactions in the first half of 2017 were cash transactions. The lack of inventory continued to be a significant issue in the Jackson Hole real estate market. As of mid-year 2017, there were 12% fewer listings when compared to this time last year. The inventory shortage was a contributing factor in increased sale prices, average sale price was up about 5%.
compared to mid-year 2016
$1,526,938
AVERAGE SALE PRICE MID-YEAR 2017
$780,000 -12% decrease compared to mid-year 2016
5% increase compared to mid-year 2016
MEDIAN SALE PRICE MID-YEAR 2017
-12% DECREASE IN INVENTORY
SOLD | List Price: $2,295,000 | North of Jackson
MID-YEAR 2017 Single Family
# of Single Family Transactions 103 % Change in Transactions from 2016 2%
While the number of single family home transactions remained close to the same as mid-year 2016, the average and median sale prices increased, 22% and 7%, respectively. There were only 2 single family home transactions in the under $500,000 price segment. The majority of single family transactions were in the $1 million-$2 million price segment, about 41%. Single family inventory remained about the same as the first half of 2016.
Minimum Price Sold $449,900 Maximum Price Sold $53,000,000 (list price) Average Sale Price $2,203,309** Median Sale Price $1,219,000
2%
NUMBER OF TRANSACTIONS
23%
TOTAL DOLLAR VOLUME
22%
AVERAGE SALE PRICE
2%
INVENTORY
Average Days on the Market 236 # Pending Transactions 29 ** The average sale price was skewed by a luxury home transaction in Wilson, Wyoming listed at $53 million.
* Statistics are cumulative.
MID YEAR 2017 Condominium & Townhome The condominium/townhome segment remained incredibly strong with increased transactions and increased average and median sale prices, up 34% and 4%, respectively. Teton Village and Town of Jackson had the most transactions. Approximately 47% of transactions occurred in the $500,000$1 million price segment. The number of transactions in the under $500,000 price segment decreased 10%, but still, there were 26 transactions in this price segment. Approximately 65% of condominium/townhome transactions were conventional loan transactions.
# of Condominium/Townhomes Transactions 110 % Change in Transactions from 2016 12% Minimum Price Sold $280,000 Maximum Price Sold $6,000,000 Average Sale Price $1,074,994 Median Sale Price $600,000
12%
NUMBER OF TRANSACTIONS
39%
TOTAL DOLLAR VOLUME
34%
AVERAGE SALE PRICE
-7%
INVENTORY
Average Days on the Market 142 # Pending Transactions 21
SOLD | List Price: $1,600,000 | Town of Jackson
SOLD | List Price: $695,000 | South of Jackson
MID-YEAR 2017 Vacant Land
# of Vacant Land Transactions 48 % Change in Transactions from 2016 30%
Vacant land transactions increased significantly in the first half of 2017, up 30%. Town of Jackson and Hoback areas showed the largest increase in transactions. About 55% of the transactions occurred in the $500,000-$1 million price segment, which pulled the average sale price down. Vacant land inventory remained about the same as the first half of 2016.
Minimum Price Sold $273,423 Maximum Price Sold $7,025,000 Average Sale Price $1,121,053 Median Sale Price $680,000
30%
NUMBER OF TRANSACTIONS
-6%
TOTAL DOLLAR VOLUME
* Statistics are cumulative.
-30% AVERAGE SALE PRICE
2%
INVENTORY
Average Days on the Market 472 # Pending Transactions 9
MID-YEAR 2017 Luxury
# of Luxury Transactions 18
The luxury segment, defined as transactions over $3 million, had about 5 transactions fewer when compared to the first half of 2016. While the average sale price increased by 40%, this figure was skewed by a luxury home transaction in Wilson, Wyoming listed at $53 million. There were 4 luxury vacant land transactions and 14 luxury single family transactions. Luxury property buyers used cash for transactions significantly more than any other segment of the market, about 60% were cash transactions. Note:
In the luxury segment, the small number of transactions affects any comparison on a percentage basis.
-22%
NUMBER OF TRANSACTIONS
8%
TOTAL DOLLAR VOLUME
40%
AVERAGE SALE PRICE
2%
INVENTORY
% Change in Transactions from 2016 -22% Maximum Price Sold $53,000,000 (list price) Average Sale Price $6,719,786 Median Sale Price $3,350,000 Average Days on the Market 353 # Pending Transactions 3
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.
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