S IN G LE FAM ILY HOM ES
Single Family Luxury Homes $ 5 + MI LLI ON LUXURY HOMES accounted for 68% of all Luxury sales to date in 2021. All told, the number of home sales is up a record breaking 163%, and the dollar volume increased by 178% for a total of **$439 million. In contrast, the average sale price decreased by 7% to $9.2 million and the median sale price of $8 million is unchanged.
To date there have been **50 home sales
Of the existing inventory, 25% has been
over $5 million (up 163%), of which 68%
on the market for more than a year. Some
sold for between $5 and 10 million. NOTE:
homes continue to be overpriced for the
Seven sold for over $15 million -- another
current market, while others do not match
historical record.
the value of the land they occupy.
Unlike the Luxury market in 2020—where
This situation constrains Buyers. For
homes over $5 million were saddled with
instance, in the $10+ million segment,
12+ months of inventory, 2021 wiped out
Buyers may choose from 12 homes valley-
most of the existing inventory. Based on
wide. Of those 12, ten are 10+ years old, six
the number of sales to date in 2021, there
include less than 10 acres, and two are on
are currently less than four months of
the Snake River. Further complicating the
inventory.
process, many Luxury homes only appeal to a specific Buyer—a precise pairing that requires substantial marketing.
HOT SPOTS The Westbank and North of the Gros Ventre River logged the most single-family, Luxury home sales to date in 2021, with 18 and 9, respectively. Only two of the sales sat atop parcels with 35+ acres, but 21 of the sales had some kind of water feature.
LUXURY HOMES UNDER CONTRACT There are nine Luxury homes currently under contract (down 10%). Seven are listed for under $10 million.
Average sale price ($9.2M) decreased by 7% Number of sales is up 163%
Dollar volume increased by 178%
**Record Setting JacksonHoleLuxuryReport.com
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