Single Family Luxury Homes

$5+ MILLION

LUXURY HOMES accounted for 66% of all luxury sales in 2021. All told, the number of home sales is up a record breaking 33%, and the dollar volume increased by 37% to a record-breaking $1.1 Billion. Following suit, the average sale price increased by 4% to a record-breaking $9.96 million.

Last year ended with 111 home sales priced over $5 million (up 33%), of which 68% sold for between $5 and 10 million. NOTE: In 2021, seven homes sold for over $20 million— a new record.

The 2021 luxury market left about four months of inventory going into 2022 after 111 home sales over $5 million wiped out most of the existing inventory.

Of the existing inventory, 20% 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 nine homes valleywide. Of those nine, eight are 10+ years old, five include less than 10 acres, and only one is on the Snake River. Further complicating the process, many luxury homes only appeal to a specific buyer, and a precise pairing requires substantial marketing.

HOT SPOTS

South of Jackson to the Snake River Bridge logged the most single-family luxury home sales in 2021 with 23 (up 109%). Only three of the sales sat atop parcels with 35+ acres.

LUXURY HOMES

UNDER CONTRACT

There are six luxury homes currently under contract (down 33%). Five are listed for under $10 million.

Number of sales is up 33%*

Dollar volume increased by 37%*

Average sale price ($9.96M*)

increased by 4%

MOST EXPENSIVE

SINGLE-FAMILY LUXURY HOME SALE IN 2021

Bar BC Ranch Parcel 3 - North Jackson

LIST PRICE: $65M

Situated on 55 acres atop Hansen Peak, Camp Teton offers stunning views of the iconic Teton Mountain Range over the confluence of the Snake and Gros Ventre Rivers. Bar BC, named after one of the first dude ranches founded in Jackson Hole in 1912, offers unparalleled privacy among a diverse array of wildlife, and lies just 9 miles north of Jackson and 6 miles from the Jackson Hole airport. Focused on the combination of work, play, health & family, Camp Teton is the culmination of a lifetime of experiences, a vision for what is possible, and execution that can never be replicated. Camp Teton invites you to appreciate the history of the maker and to participate in creating the next chapter for decades to come.

Comprised of four structures, Camp Teton includes a 9,000 sq. ft. main home, 2,200 sq. ft. guest home, 1,000 sq. ft. spa, and 2,100 sq. ft. ‘treehouse’ (upstairs office and lower level indoor/outdoor dining and entertainment). Infinity edge pool, cold plunge, and hot tub offer unobstructed views of the Tetons, and sit adjacent to the spa with treatment room, yoga room, steam room, and fitness center.

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 4% when compared to year end 2020 with 25 luxury homes for sale. With an average listing price of $11.4 million (down 9%) and a median listing price of $6.995 million (down 28%), the available inventory breaks down into the following: 15 between $5 and $10 million (60%); five between $10 and $15 million; and two over $25 million (see most expensive home listing below). NOTE: Of the 25 homes listed, only two sit on 35+ acres. Also noteworthy: 80% of the luxury homes currently on the market are more than 15 years old.

MOST EXPENSIVE HOME LISTING

AT THIS TIME

Bugling Elk Trail – North Jackson

LIST PRICE: $48M

This magical Estate-Level sanctuary is located north of the town of Jackson, along the Gros Ventre River. The property consists of 3 parcels, (parcels 4-6) for a total of 127 acres with a private lake and beautiful Teton views. The levee for this property runs the entirety of these 3 parcels for utmost enjoyment. The main home contains 7 bedrooms, all en-suite, 2 powder rooms and 10 wood burning fireplaces. There are many gathering areas. 1 off the kitchen and 2 additional areas adjacent to the guest bedrooms on the main level and 2nd level. The cozy library on the 2nd level is perfect for relaxing by the fireplace and enjoying a book. The sunroom is a perfect spot for wildlife viewing with the pond and Tetons as a backdrop. The main home is approx. 13,300 sq. ft. consisting of amazing hand-crafted log construction, oak floors, a commercial grade kitchen and 10 wood burning fireplaces. The charming guest house contains 2 bedrooms, 2 baths plus a loft and is approx. 1,680 sq. ft. There are 2 wood burning fireplaces in the guest house. The estate is located north of the town of Jackson. Parcel 6 is vacant and will allow for development rights, adhering to Teton County regulations. Being sold furnished with some exceptions.

A recreational easement exists on Parcels 1-6 for homeowners which runs with the land, and not the owners. Therefore, the new owners will also be able to enjoy the use of Parcel 1, 2 & 3 for fishing, hiking, picnicking, etc. There are only 3 homeowners between these 6 large parcels. Some of the best fishing in the valley can be accessed by the owners of Elk Run, along the confluence of the Snake & Gros Ventre Rivers and the numerous spring creeks located near the confluence.