TNG's Comprehensive Mid Year Report 2017

M i d -Ye a r 2 0 1 7

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 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.

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

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.

270 West Pearl Ave, Suite 101 Jackson, WY 83001

WWW.TNGJH.COM