S IN G L E FAM ILY HOM ES
Single Family Luxury Homes $ 5 + MI LLI ON
LUXURY HOMES accounted for 56% of all Luxury sales to date in 2022. All told, the number of home sales is down 34%, and the dollar volume decreased by 34% for a total of $290 million. Following suit, the average sale price decreased by 4% to $8.8 million and the median sale price decreased 19% to $6.5 million.
To date, there have been 33 home sales
homes continue to be overpriced for the
over $5 million (down 34%), of which 79%
current market, while others do not match
sold for between $5 and 10 million. NOTE:
the value of the land they occupy.
Three sold for over $15 million. This situation is constraining Buyers. For Unlike the Luxury market in 2020—where
instance, in the $10+ million segment,
homes over $5 million were saddled with
Buyers may choose from 11 homes valley
12+ months of inventory, the last two years
wide. Of those 11, eight are 10+ years old,
wiped out half of the existing inventory.
six include less than 10 acres, and only two
Based on the number of sales to date in
have water features. Further complicating
2022, there are currently less than six
the process, many Luxury homes only
months of inventory.
appeal to a specific Buyer—a precise pairing that requires substantial marketing.
Of the existing inventory, 20% has been on the market for more than a year. Some
HOT SPOTS The Westbank and North of the Gros Ventre River logged the most single-family, Luxury home sales to date in 2022, with 10 and 8, respectively. Only one of the sales sat atop parcels with 35+ acres, and only eight of the sales had some kind of water feature.
LUXURY HOMES UNDER CONTRACT There are five Luxury homes currently under contract (down 45%). All five are listed between $5 and $10 million.
Number of sales is down 34%
Dollar volume decreased by 34%
Average sale price ($8.8M) decreased by 4%
Median sale price ($6.5M) decreased by 19%
JacksonHoleLuxuryReport.com
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