The NeVille Group 2016 Market Report

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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CHRISTIES.EDU

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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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