YEAR-END
2016
T H E NE VI LLE GR OU P REAL ES 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
3%
AVERAGE SALE PRICE
2%
MEDIAN SALE PRICE
-17%
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.
TETON VILLAGE (Realtor Multi-Listing Service Statistics)
SINGLE FAMILY HOMES
2015 Q1-Q4
2016 Q1-Q4
%
2016 YR END
Active
6
7
16.67%
7
Low Sale
Curtis Dr - $2,065,400*
Pending
8
4
-50.00%
4
Med Sale
Granite Ridge - $3,200,000
Units Sold
7
6
-14.29%
6
High Sale
Old Village - $7,775,000
Average Sold Price
$5,335,286
$3,969,233
-25.60%
$3,969,233
Median Sold Price
$4,300,000
$3,362,500
-21.80%
$3,362,500
10
10
0.00%
10
New Listings MULTI FAMILY HOMES
2016 HIGHLIGHTS
2016 TOP SALE Old Village - $7,775,000
2015 Q1-Q4
2016 Q1-Q4
%
2016 YR END
Active
37
25
-32.43%
25
Low Sale
Sleeping Indian - $349,000
Pending
34
43
26.47%
43
Med Sale
Hotel Terra - $945,000
High Sale
Four Seasons - $5,500,000
36
38
5.56%
38
Average Sold Price
Units Sold
$1,679,249
$1,288,682
-23.26%
$1,288,682
Median Sold Price
$1,275,000
$910,000
-28.63%
$910,000
92
43
-53.26%
43
2015 Q1-Q4
2016 Q1-Q4
%
2016 YR END
New Listings BUILDING SITES
2016 HIGHLIGHTS
2016 TOP SALE Four Seasons - $5,500,000
2016 HIGHLIGHTS
Active
9
5
-44.44%
5
Low Sale
Morely Dr - $1,660,000
Pending
11
8
-27.27%
8
Med Sale
Shooting Star - $2,500,000
Units Sold
9
9
0.00%
9
High Sale
Granite Ridge - $3,800,000
Average Sold Price
$2,614,667
$2,606,000
-0.33%
$2,606,000
Median Sold Price
$2,650,000
$2,700,000
1.89%
$2,700,000
15
4
-73.33%
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
2015 Q1-Q4
2016 Q1-Q4
%
2016 YR END
2016 HIGHLIGHTS
Active
30
24
-20.00%
24
Low Sale
Wilson - $750,000
Pending
42
38
-9.52%
38
Med Sale
Lake Creek - $1,662,500
Units Sold
42
35
-16.67%
35
High Sale
Lazy Moose Ranch - $8,735,400*
Average Sold Price
$3,038,543
$1,999,171
-34.21%
$1,999,171
Median Sold Price
$2,075,000
$1,640,000
-20.96%
$1,640,000
64
47
-26.56%
47
New Listings MULTI FAMILY HOMES
2016 TOP SALE Lazy Moose Ranch - $8,735,400*
2015 Q1-Q4
2016 Q1-Q4
%
2016 YR END
Active
10
3
-70.00%
3
Low Sale
Hollyhock/Aspens - $352,500
Pending
28
35
25.00%
35
Med Sale
Wheatgrass - $564,267
Units Sold
27
31
14.81%
31
High Sale
Teton Pines - $1,875,000
Average Sold Price
$686,302
$601,596
-12.34%
$601,596
Median Sold Price
$585,000
$550,000
-5.98%
$550,000
35
49
40.00%
49
New Listings BUILDING SITES
2016 HIGHLIGHTS
2016 TOP SALE Teton Pines - $1,875,000
2015 Q1-Q4
2016 Q1-Q4
%
2016 YR END
Active
12
8
-33.33%
8
Low Sale
Leeper Ln - $360,000
Pending
16
10
-37.50%
10
Med Sale
Teton Pines - $1,150,000*
High Sale
Wilderness Ranch - $3,496,000*
8
9
12.50%
9
Average Sold Price
Units Sold
$978,750
$1,264,278
29.17%
$1,264,278
Median Sold Price
$1,150,000
$1,200,000
4.35%
$1,200,000
18
17
-5.56%
17
New Listings
2016 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
2015 Q1-Q4
2016 Q1-Q4
%
2016 YR END
Active
15
15
0.00%
15
Low Sale
Fall Creek Cabin - $800,000
Pending
19
20
5.26%
20
Med Sale
River Meadows - $1,475,000
High Sale
Crescent H - $7,268,000*
Units Sold
2016 HIGHLIGHTS
17
19
11.76%
19
Average Sold Price
$2,506,529
$1,898,500
-24.26%
$1,898,500
Median Sold Price
$1,400,000
$1,475,000
5.36%
$1,475,000
30
32
6.67%
32
2015 Q1-Q4
2016 Q1-Q4
%
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
2015 Q1-Q4
2016 Q1-Q4
%
2016 YR END
Active
12
16
33.33%
16
Low Sale
Fall Creek Rd - $355,000
Pending
9
5
-44.44%
5
Med Sale
Cameron Rd - $1,600,000
Units Sold
9
5
-44.44%
5
High Sale
Fall Creek Rd - $12,788,000*
Average Sold Price
$1,160,778
$3,639,600
213.55%
$3,639,600
Median Sold Price
$750,000
$1,600,000
113.33%
$1,600,000
7
13
85.71%
13
New Listings MULTI FAMILY HOMES
BUILDING SITES
New Listings
2016 TOP SALE Crescent H - $7,268,000*
2016 HIGHLIGHTS
2016 TOP SALE n/a
2016 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
2015 Q1-Q4
2016 Q1-Q4
%
2016 YR END
Active
22
19
-13.64%
19
Low Sale
JHG & T - $1,100,000
Pending
16
22
37.50%
22
Med Sale
Gros Ventre West - $2,750,000
Units Sold
18
19
5.56%
19
High Sale
Indian Springs - $10,250,000
Average Sold Price
$3,005,444
$3,970,342
32.11%
$3,970,342
Median Sold Price
$2,650,000
$2,800,000
5.66%
$2,800,000
34
32
-5.88%
32
New Listings MULTI FAMILY HOMES
2016 HIGHLIGHTS
2016 TOP SALE Indian Springs - $10,250,000
2015 Q1-Q4
2016 Q1-Q4
%
2016 YR END
Active
6
4
-33.33%
4
Low Sale
Teton Shadows - $555,000
Pending
9
6
-33.33%
6
Med Sale
Harvest Dance - $659,000
Units Sold
9
6
-33.33%
6
High Sale
Spirit Dance - $1,900,000
Average Sold Price
$814,990
$879,500
7.92%
$879,500
Median Sold Price
$729,500
$748,000
2.54%
$748,000
10
7
-30.00%
7
2015 Q1-Q4
2016 Q1-Q4
%
2016 YR END
Active
34
38
11.76%
38
Low Sale
JHG & T - $440,000
Pending
16
14
-12.50%
14
Med Sale
Gros Ventre West - $925,000
Units Sold
20
9
-55.00%
9
High Sale
Bar BC East - $7,360,000*
Average Sold Price
$2,194,550
$1,940,333
-11.58%
$1,940,333
Median Sold Price
$1,032,500
$1,150,000
11.38%
$1,150,000
33
40
21.21%
40
New Listings BUILDING SITES
New Listings
2016 HIGHLIGHTS
2016 TOP SALE Spirit Dance - $1,900,000
2016 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
2015 Q1-Q4
2016 Q1-Q4
%
2016 YR END
Active
16
17
6.25%
17
Low Sale
Buffalo Valley Rd - $405,900
Pending
25
17
-32.00%
17
Med Sale
Pacific Creek - $1,050,000
Units Sold
24
19
-20.83%
19
High Sale
Kelly - $6,854,000*
Average Sold Price
$2,644,958
$1,727,231
-34.70%
$1,727,231
Median Sold Price
$1,370,500
$1,280,000
-6.60%
$1,280,000
37
28
-24.32%
28
2015 Q1-Q4
2016 Q1-Q4
%
2016 YR END
New Listings
MULTI FAMILY HOMES
2016 HIGHLIGHTS
2016 TOP SALE Kelly - $6,854,000*
2016 HIGHLIGHTS
Currently there are no multi-family homes in the Northern Valley (North of Sagebrush Dr / Gros Ventre Junction)
BUILDING SITES
2015 Q1-Q4
2016 Q1-Q4
%
2016 YR END
Active
39
30
-23.08%
30
Low Sale
Grand Teton Meadows - $557,000
Pending
9
13
44.44%
13
Med Sale
Trap Club Rd - $875,000
Units Sold
9
11
22.22%
11
High Sale
Grand Teton Ranch - $7,590,000*
Average Sold Price
$1,475,378
$1,490,364
1.02%
$1,490,364
Median Sold Price
$1,125,000
$890,000
-20.89%
$890,000
42
25
-40.48%
25
New Listings
2016 HIGHLIGHTS
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
2015 Q1-Q4
2016 Q1-Q4
%
2016 YR END
2016 HIGHLIGHTS
Active
29
21
-27.59%
21
Low Sale
Cottonwood Flats - $510,000
Pending
52
63
21.15%
63
Med Sale
Indian Trails - $785,000
Units Sold
52
62
19.23%
62
High Sale
Keats Grove - $4,600,000
Average Sold Price
$1,048,587
$988,488
-5.73%
$988,488
Median Sold Price
$845,000
$775,000
-8.28%
$775,000
85
74
-12.94%
74
New Listings MULTI FAMILY HOMES
2016 TOP SALE Keats Grove - $4,600,000
2015 Q1-Q4
2016 Q1-Q4
%
2016 YR END
Active
29
19
-34.48%
19
Low Sale
Pondorosa - $266,900
Pending
90
94
4.44%
94
Med Sale
Pitchfork - $499,000
Units Sold
92
93
1.09%
93
High Sale
Pearl at Jackson - $1,850,000
Average Sold Price
$568,422
$632,746
11.32%
$632,746
Median Sold Price
$463,750
$496,800
7.13%
$496,800
133
109
-18.05%
109
2015 Q1-Q4
2016 Q1-Q4
%
2016 YR END
Active
12
17
41.67%
17
Low Sale
Hidden Ranch - $388,000
Pending
8
11
37.50%
11
Med Sale
Rodeo Drive - $599,000
Units Sold
8
11
37.50%
11
High Sale
Snow King Ave - $1,400,000
Average Sold Price
$2,070,313
$932,000
-54.98%
$932,000
Median Sold Price
$525,000
$635,000
20.95%
$635,000
13
23
76.92%
23
New Listings BUILDING SITES
New Listings
2016 HIGHLIGHTS
2016 TOP SALE Pearl at Jackson - $1,850,000
2016 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
2015 Q1-Q4
2016 Q1-Q4
%
2016 YR END
2016 HIGHLIGHTS
Active
33
29
-12.12%
29
Low Sale
Rogers Point - $479,000
Pending
49
55
12.24%
55
Med Sale
South Park Ranch - $1,010,000
Units Sold
52
52
0.00%
52
High Sale
Ely Springs - $8,188,000*
Average Sold Price
$1,407,034
$1,393,033
-1.00%
$1,393,033
Median Sold Price
$813,250
$1,015,000
24.81%
$1,015,000
115
84
-26.96%
84
New Listings MULTI FAMILY HOMES
2016 TOP SALE Ely Springs - $8,188,000*
2015 Q1-Q4
2016 Q1-Q4
%
2016 YR END
Active
2
2
0.00%
2
Low Sale
Cottonwood - $540,000
Pending
12
8
-33.33%
8
Med Sale
Rafter J - $610,000
Units Sold
10
6
-40.00%
6
High Sale
Rafter J - $644,250
Average Sold Price
$480,868
$624,375
29.84%
$624,375
Median Sold Price
$490,840
$627,125
27.77%
$627,125
8
15
87.50%
15
2015 Q1-Q4
2016 Q1-Q4
%
2016 YR END
Active
36
45
25.00%
45
Low Sale
Squaw Creek - $297,500
Pending
28
13
-53.57%
13
Med Sale
Game Creek - $625,000
Units Sold
27
13
-51.85%
13
High Sale
SR Sport Club - $2,479,400*
Average Sold Price
$1,682,887
$868,146
-48.41%
$868,146
Median Sold Price
$831,600
$653,200
-21.45%
$653,200
36
38
5.56%
38
New Listings BUILDING SITES
New Listings
2016 HIGHLIGHTS
2016 TOP SALE Rafter J - $644,250
2016 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
2015 Q1-Q4
2016 Q1-Q4
%
2016 YR END
Active
371
347
-6.47%
347
Pending
486
473
-2.67%
473
Units Sold
477
452
-5.24%
452
Average Sold Price
$1,552,052
$1,359,270
-12.42%
$1,359,270
Median Sold Price
$850,000
$875,000
2.94%
$875,000
760
690
-9.21%
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
2015 Q1-Q4
2016 Q1-Q4
%
2016 YR END
Active
144
132
-8.33%
132
Low Sale
Buffalo Valley - $405,900
Pending
217
219
0.92%
219
Med Sale
Melody Ranch - $1,125,000
High Sale
Indian Springs - $10,250,000
212
211
-0.47%
211
Average Sold Price
Units Sold
$2,136,066
$1,753,942
-17.89%
$1,753,942
Median Sold Price
$1,262,500
$1,123,161
-11.04%
$1,123,161
345
307
-11.01%
307
New Listings SINGLE FAMILY HOMES SOLD Q1-Q4 2016
MULTI FAMILY HOMES
2015 Q1-Q4
2016 HIGHLIGHTS
2016 TOP SALE Indian Springs - $10,250,000
155
44
$0 - $2M
$2M - $5M
2016 Q1-Q4
%
2016 YR END
7 $5M-$8M
2016 HIGHLIGHTS
Active
84
56
-33.33%
56
Low Sale
Pondorosa - $266,900
Pending
180
180
0.00%
180
Med Sale
Aspen Stand - $595,000
Units Sold
175
174
-0.57%
174
High Sale
Four Seasons - $5,500,000
Average Sold Price
$824,262
$778,667
-5.53%
$778,667
Median Sold Price
$533,500
$577,500
8.25%
$577,500
248
223
-10.08%
223
New Listings
Four Seasons - $5,500,000
139
MULTI FAMILY HOMES SOLD Q1-Q4 2016
BUILDING SITES
2016 TOP SALE
29
$0 - $1M
$1M - $2M
2015 Q1-Q4
2016 Q1-Q4
%
2016 YR END
Active
144
159
10.42%
159
Low Sale
Squaw Creek - $297,500
Pending
89
74
-16.85%
74
Med Sale
Solitude - $1,100,000
Units Sold
90
67
-25.56%
67
High Sale
Fall Creek - $12,788,000*
Average Sold Price
$1,776,625
$1,618,290
-8.91%
$1,618,290
Median Sold Price
$981,000
$1,100,000
12.13%
$1,100,000
167
160
-4.19%
160
New Listings BUILDING SITES SOLD Q1-Q4 2016
2016 HIGHLIGHTS
2016 TOP SALE Fall Creek - $12,788,000*
29 $0 - $1M
15
20 $1M - $2M
* 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.
$2M-$5M
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CHRISTIE’S TRAVEL
CHRISTIES.COM/TRAVEL
MA R K E T H IG H L IG H TS SALES DISTRIBUTION BY SEGMENT
286
41%
CONDO/TOWNHOME
35%
TRANSACTIONS UNDER $1 MILLION
VACANT LAND
15%
212
21
COMMERCIAL
6%
OTHER
2%
TRANSACTIONS $1-5 MILLION SALES DISTRIBUTION BY PRICE
TRANSACTIONS $5 MILLION+
UNDER $500K
17%
38%
26%
HIGHEST SALE $18,500,000 LOWEST SALE $240,000 * Statistics are cumulative.
SINGLE FAMILY
15%
4%
$500K-$1M
$1M-$2M
$2-$5M
OVER $5M
YEAR-END 2016 Overall Market
The overall market trends continued in 2016. The average and median sale prices remained strong with a 3% and 2% gain, respectively. The decrease in number of transactions and increase in average and median sale prices can be attributed to the continued shortage of inventory, down about 13% when compared to 2015. Another indicator was the decrease in average days on the market; properties sold 10% faster in 2016 than they did in 2015. The number of transactions in 2016 decreased when compared to 2015, with about 13% fewer transactions. Transactions in the under $500,000 price segment were sporadic with about 31% fewer transactions. The majority of transactions took place in the $500,000-$1 million price segment. The number of active listings dropped in 2016, down 13% compared to 2015. Low inventory continued to be a factor in the supply and demand of Jackson Hole’s real estate market.
627
TOTAL NUMBER OF TRANSACTIONS YEAR-END 2016
13% decrease
compared to YEAR-END 2015
$1,356,101
AVERAGE SALE PRICE YEAR-END 2016
$875,000 2% increase
compared to YEAR-END 2015
3% increase
compared to YEAR-END 2015
MEDIAN SALE PRICE YEAR-END 2016
13%
DECREASE IN INVENTORY
YEAR-END 2016 Single Family
# of Single Family Transactions 259
This segment of the market remained stable in 2016. Only 6 more transactions in 2016 than in 2015, and a 3% decrease in average sale price. A 21% decrease in transactions over $5 million brought the average sale price down. Single family home inventory remained relatively low, down approximately 13%. This was about 6 months’ worth of inventory. The average days on market decreased as well, down about 7%. There was a 27% increase in the number of homes under contract at the end of 2016 setting up for a strong start to 2017.
% Change in Transactions from 2015 2% Minimum Price Sold $355,000 Maximum Price Sold $10,250,000 Average Sale Price $1,721,735 Median Sale Price $1,110,000
2%
NUMBER OF TRANSACTIONS
* Statistics are cumulative.
-8%
TOTAL DOLLAR VOLUME
-3%
AVERAGE SALE PRICE
-13% INVENTORY
Average Days on the Market 215 # Pending Transactions 19
YEAR-END 2016 Condominium & Townhome
# of Condominium/Townhomes Transactions 219
Condominium/townhome segment had mixed results at the end of 2016. Number of transactions were down about 13%. Average sale price decreased slightly, but the median sale price increased nearly 10%. This can be attributed to the decrease in transactions in the over $5 million price segment, an 88% decrease, and the increase in transactions in the $500,000-$1 million segment, up 27%. Inventory increased about 7%, which equated to nearly 5 months’ worth of inventory. The Town of Jackson and Teton Village were the two primary areas for condominium/townhome transactions, but both had fewer transactions when compared to 2015. The Spring Creek Ranch area had improved growth in 2016.
% Change in Transactions from 2015 -13% Minimum Price Sold $240,000 Maximum Price Sold $5,500,000 Average Sale Price $780,542 Median Sale Price $570,000
-13%
NUMBER OF TRANSACTIONS
-23%
TOTAL DOLLAR VOLUME
-3%
AVERAGE SALE PRICE
7%
INVENTORY
Average Days on the Market 160 # Pending Transactions 5
YEAR-END 2016 Vacant Land
# of Vacant Land Transactions 96
Vacant land transactions decreased in 2016, down approximately 33%, when compared to the growth in 2015. However, the average and median sale prices increased 26% and 11%, respectively. This can be attributed to a shift in price segment of transactions. 50% of vacant land transactions took place in the $1 million-$5 million price segment. Simultaneously, the number of transactions in the under $500,000 price segment decreased nearly 50%. The average days on market decreased 21%. Inventory remained consistent with about 20 months’ worth of inventory, a number that will continue to impact the price of vacant land.
% Change in Transactions from 2015 -33% Minimum Price Sold $290,000 Maximum Price Sold $10,500,000 Average Sale Price $1,515,208 Median Sale Price $925,000
-33%
NUMBER OF TRANSACTIONS
* Statistics are cumulative.
-32%
TOTAL DOLLAR VOLUME
26%
AVERAGE SALE PRICE
2%
INVENTORY
Average Days on the Market 382 # Pending Transactions 9
YEAR-END 2016 Luxury Luxury properties, defined as transactions over $3 million, had about 18% fewer transactions when compared to 2015. Average and median sale prices remained roughly the same as last year. Luxury inventory dropped slightly, down about 5%. The average days on market was the highest when compared to the other segments of the market at 429. Teton Village had the most luxury transactions in 2016. The highest sale of the year was a 125-acre parcel of land located along the Snake River and was sold by Jackson Hole Real Estate Associates.
# of Luxury Transactions 50 % Change in Transactions from 2015 -18% Minimum Price Sold $3,200,000 Maximum Price Sold $10,500,000 Average Sale Price $4,842,486
* It is important to note in the luxury segment, the small number of transaction size affects any comparison on a percentage basis.
-18%
NUMBER OF TRANSACTIONS
-27%
TOTAL DOLLAR VOLUME
-1%
AVERAGE SALE PRICE
-5%
INVENTORY
Median Sale Price $3,800,000 Average Days on the Market 429 # Pending Transactions 8
SOLD | List Price: $1,950,000 | Dubois, Wyoming
YEAR-END 2016 Commercial
# of Commercial Transactions 40
Commercial properties in Jackson Hole, particularly in downtown Jackson, were in high demand in 2016. Although, the number of transactions was just shy of last year’s transactions (2015 was a huge year for the commercial segment), there were still 40 commercial transactions in 2016, a 13% decrease from 2015. Nonetheless, the average sale price increased approximately 34%. The majority of commercial transactions took place in the $2 million-$5 million price segment. There was only one transaction under $500,000. Commercial inventory decreased, down about 16% compared to the end of 2015.
% Change in Transactions from 2015 -13% Minimum Price Sold $495,000 Maximum Price Sold $18,500,000 Average Sale Price $2,457,696 Median Sale Price $1,400,000
-13%
NUMBER OF TRANSACTIONS
* Statistics are cumulative.
8%
TOTAL DOLLAR VOLUME
34%
AVERAGE SALE PRICE
-16% INVENTORY
Average Days on the Market 279 # Pending Transactions 5
YEAR-END 2016 Farm and Ranch
# of Farm & Ranch Transactions 25
Farm and ranch transactions in 2016 increased by only 4 transactions when compared to 2015, however, the average sale price increased considerably, up about 57%. Several significant ranch sales took place in Teton County, Lincoln County, and Sublette County, Wyoming. However, Sublette County, Wyoming contributed to the majority share of the total dollar volume. With just 5 transactions, Sublette County’s dollar volume reached nearly $27 million. At year-end, there were 5 ranch properties under contract, one with a price tag of $53 million.
% Change in Transactions from 2015 19% Minimum Price Sold $248,500 Maximum Price Sold $10,500,000 Average Sale Price $2,619,904 Average Days on the Market 551
19%
NUMBER OF TRANSACTIONS
87%
TOTAL DOLLAR VOLUME
57%
AVERAGE SALE PRICE
-32% INVENTORY
# Pending Transactions 5 * The statistics set forth in this report reach outside of Jackson Hole to encompass parts of Wyoming, Idaho, and Montana (all MLS areas) to convey the full scope of the farm and ranch real estate market.
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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