Single Family Luxury Homes

$5+ MILLION

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 over $5 million (up 163%), of which 68% sold for between $5 and 10 million. NOTE: Seven sold for over $15 million -- another historical record.

Unlike the Luxury market in 2020—where homes over $5 million were saddled with 12+ months of inventory, 2021 wiped out most of the existing inventory. Based on the number of sales to date in 2021, there are currently less than four months of inventory. Of the existing inventory, 25% has been on the market for more than a year. Some homes continue to be overpriced for the current market, while others do not match the value of the land they occupy.

This situation constrains Buyers. For instance, in the $10+ million segment, Buyers may choose from 12 homes valleywide. Of those 12, ten are 10+ years old, six include less than 10 acres, and two are on the Snake River. Further complicating the 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.

Number of sales is up

163%

Dollar volume

increased by 178%

Average sale price ($9.2M)

decreased by 7%

MOST EXPENSIVE

SINGLE-FAMILY LUXURY HOME SALE TO DATE

Dairy Subdivision Lot 32

LIST PRICE: $18.9 MILLION

A Refuge Five Minutes from Town - Tucked away in the prestigious Dairy Ranches, Cody Creek Sanctuary’s proximity to town is unmatched in the West. Only five minutes from downtown Jackson, this 65-acre property, populated by elk, deer, and a myriad of other native species, feels miles from the hubbub of civilization.

Cody Creek Sanctuary, a log home on 65 acres of open space, lies just minutes south of downtown Jackson, but resembles a miniature National Park. Native wildlife roam the property year-round. Enjoy the sound of a rambling spring creek, sunlight in a cottonwood grove or a stunning sunset over snow-capped mountains.

LATHAM JENKINS / LIVE WATER JACKSON HOLE

If you are a property owner in Jackson Hole and would like a free comparative market analysis, please contact David Viehman at 307-690-4004 or david@jacksonholereport.com. Our in-depth local knowledge gleaned from producing the Jackson Hole Luxury Report has made us Your Local Luxury Experts.

THE CURRENT LANDSCAPE

Available inventory is down 18% when compared to mid-year 2020 with only 32 Luxury homes for sale. With an average listing price of $13.2 million (up 9%), and a median listing price of $7.6 million (down 18%), the available inventory breaks down into the following: 21 between $5 and $10 million (65%); six between $10 and $15 million; two between $15 and $25 million, and three over $25 million (see most expensive home listing). NOTE: Of the 32 homes listed, only five sit on 35+ acres. Also noteworthy: 75% of the Luxury homes currently on the market are more than 15 years old.

LIST PRICE $69.5M Ed Liebzeit Jackson Hole Sotheby’s International Realty

MOST EXPENSIVE HOME LISTING

AT THIS TIME

Bar B Bar

A very special home and much more. The 4 bedroom, 7984 square foot home is on a 37 acre parcel and adjoins 6 other 35+ acre parcels totaling 278 acres in the private Bar B Bar Ranch. With 3 spring creeks flowing through the property and over 1/2 mile of Snake River frontage you know you are somewhere very special. The home is an exceptional design and built to the highest quality standards. A 4 bedroom 3618 sq. ft. guest house adds to the appeal. The property has been extensively landscaped and very private yet conveniently located. Two patios offer wonderful outdoor spaces as well as enjoying the bark covered walking paths. Watch the wildlife every season and enjoy the fishing in the creeks or river.