2022 Jackson Hole Luxury Report Volume 11, Edition 1

2022

COMMERCIAL SALES DOMINATE

WELCOME TO THE 11TH ANNIVERSARY OF THE JACKSON HOLE LUXURY REPORT

Responding to Context is our Modus Operandi

More than two decades ago, we published the first Jackson Hole Report to provide the critical, specialized market analysis our clients need. Then as now, the Jackson Hole Report remains the definitive source on real estate in this region, regularly cited in national publications.

The Origin of the Jackson Hole Luxury Report

Post Recession, we observed the high-end segment grow in strength and subtlety. Understanding that luxury properties require special attention and analysis, we published the inaugural Jackson Hole Luxury Report ten years ago—to widespread acclaim.

Buying a

home in Jackson Hole is more than a transaction.

For many, the decision is often an exciting lifestyle change as well. Respecting the many elements that factor into this important decision, we designed our real estate services to provide you with much more than just a property fact sheet.

Catering to high-end buyers and sellers who seek a clear understanding of this elite market, the report focuses on 1,904 properties worth $5 million and above, many of which are sold privately and never appear as public listings.

Our Commitment to You

Underlying our exhaustive research is a core commitment to our clients. We want to ensure their experience matches their expectations of this spectacular setting. As trusted advisors, we work with our clients throughout the process of purchasing and selling real estate, but also well beyond the closing date.

Creating Community

Intrinsic to our roles as realtors is our pride of place and a connection with our clients.

Getting to know the people and places who make this community so vibrant is as important as recognizing the economic factors at play in our market.

From exploring market dynamics to sketching a social calendar, we are experts in all aspects of Jackson Hole, and we want to help make this valley feel like home. Please turn to us as your partner in the discovery of this special place.

Confidential Market Analysis

As a courtesy to our clients, we offer a confidential market analysis of your distinctive Jackson Hole property, as well as annual valuation updates for trust and estate planning. If you own a luxury property in Jackson Hole and would be interested in a confidential market analysis, please fill out the form below or call David at (307) 690-4004 or email david@jacksonholereport.com.

Commercial Sales Dominate the High-end Market

For the first time in history commercial sales dominate the luxury market. While only making up 15% of the luxury sales (17), this segment accounted for 41% of the dollar volume. Of the 17 sales five were hotel/motels sales, accounting for $527 million in dollar volume. They include Four Seasons in Teton Village, Amangani in Spring Creek Ranch, Red Lion Wyoming Inn, Homewood Suites and Motel 6 in the Town of Jackson.

NOTE: Over the last ten years 37 hotel/motels have changed hands in Jackson Hole.

Looking ahead, we are seeing a softening of demand with inflation, rising interest rates, the stock market and crypto seeing major losses, and lack of inventory in the lower price ranges. However, the softening is taking us from a frenzied market to a more mollified one. Inventory is increasing, and prices will start to moderate into a slower growth curve. While inventory levels are still at historic lows, without more Buyers in the market, some sellers will have to lower their expectations if they want to close in 2023.

“Off-Market” sales. An Off-Market sale is a property that was not made available to the public through MLS or was temporarily posted to MLS and then removed before going under contract. NOTE: In 2022, only 39% of all closed Luxury sales were reported to MLS. The rest were considered Off-Market. Normally a Realtor is involved in these Off-Market sales, but advertising in MLS was not necessary to find a Luxury Buyer.

If you would like to know more about sales under $5 million, please read our Jackson Hole Report at www.jacksonholereport.com

Amangani in Spring Creek Ranch

6 Overall Luxury Market

Comparing year-end 2022 with 2021, we discovered that the overall number of luxury sales decreased 32% to 115 total sales. Following suit, the overall dollar volume decreased 11% to $1.52 billion.

10 Single Family Luxury Homes

Luxury homes accounted for 58% of all luxury sales in 2022. All told, the number of home sales is down 39%, the dollar volume decreased by 40% to $56 million. Following suit, the average sale price decreased by 2% to $9.8 million.

13 Vacant Luxury Lots

The demand for vacant luxury lots in 2022 decreased 32% when compared to year-end 2021. Sales totaled 17 transactions with a dollar volume of $110 million.

18 Luxury Condo/Townhouses

Luxury Condo/Townhomes are few but not far between in Jackson Hole, and all but 12 are located in Teton Village. Currently, 152 units qualify for the Jackson Hole Luxury Report with values of $5+ million.

22 Meet the Team

Jackson Hole real estate is a treasured and valuable asset. With this investment in mind, it is vital that your relationship with your Realtor is based on an open line of communication.

Competence. Exclusivity. Passion. Ensuring an Experience of the Highest Caliber

Opening

the door to the life you aspire.

At Engel & Völkers, we believe that luxury is the fullness of life that begins and ends the day in the most important place we know: home. From starter homes, to dream homes, and even castles, Engel & Völkers advisors help our clients discover what luxury means to them and deliver a home buying and selling experience that meets their unique needs.

Engel & Völkers evokes a real estate experience with the utmost competence, exclusive expertise and passion for all that we do. Handcrafted attention to every detail and meticulous whiteglove service is what each and every one of our clients deserves.

It’s our standard of service that truly sets Engel & Völkers apart.

Our many years Real Estate relationship was excellent without exception. In my opinion, David and Devon are the most informed and professional Realtor in Jackson Hole.

OWEN Grand Rapids, MI

What more can be said about the due diligence of David and his entire staff when the property sold in 7 days. I had known of David since first moving to Jackson 14 years ago and he never changed in my estimation other than he just became more professional and stayed believable.

JACK AND SUZANNE MEREDITH Beaufort, S.C.

How can the Jackson Hole Luxury Report serve you?

After perusing this publication, we hope you agree: the Jackson Hole Luxury Report stands in a league all its own. Other Realtors try to analyze the Jackson Hole market from MLS statistics, however the MLS accounted for only 39% of the luxury sales in 2022. In contrast, we track every single luxury transaction in Teton County by painstakingly reviewing public records. Our data-driven reporting is the most accurate and trusted real estate news source in Teton County.

extensive research of listed and unlisted sales. By providing you with the best advice available, we ensure that you have a successful and smooth real estate transaction.

When we decided to sell our vacation home in Jackson Hole, we searched for a real estate company that had deep roots and a thorough understanding of the unique nuances of the Jackson Hole real estate market. We were concerned about our home becoming lost as just another listing of one of the large mega real estate companies. We selected David and his team because of their depth of experience and the sharp, intelligent way that they analyze and market the strengths of each home to the continually changing Jackson Hole real estate market. David and his team worked closely with us on the marketing and sale of our home and continually kept us appraised of all showings and interest. We greatly appreciate the focused, individual approach they give to each property.

SHELLIE & MICHAEL LACKMAN

We use this detailed data to help you – our clients. From pricing your luxury property to sell in this competitive market to helping you determine the right time to buy, we share all of our analytical insight with you. Paired with impeccable professionalism and personal attention, we offer you superior service matched only by the superior nature of the properties themselves.

The lack of published luxury sales can make pricing a luxury home stressful, particularly when emotions are involved. When pricing your property, we reference our own knowledge base –built over decades of tracking the Jackson Hole market and neighborhoods, and working with clients and builders – as well as our

To keep you abreast of Jackson Hole’s ever-changing real estate conditions, we offer a suite of services including daily email updates of active luxury listings, a free confidential market analysis of a client’s property and annual price updates for estate and/or trust planning. If you want to list your luxury property this fall, please call or email us to set up an evaluation of your property. After touring your property, we will provide a custom marketing plan. No other Jackson Hole brokerage can duplicate the dexterity of our marketing approach.

So whether you plan to list your luxury property soon, want more detailed analysis of a specific area, or need a professional realtor to represent you, please call (307) 690-4004 or email group@jacksonholereport.com.

...we track every single luxury transaction in Jackson Hole by painstakingly reviewing public records. Our data-driven reporting is the most accurate and trusted real estate news source in Jackson Hole.

Overall Luxury Market

$5+ MILLION

Comparing year-end 2022 with 2021, we discovered that the overall number of luxury sales decreased 32% to 115 total sales. Following suit, the overall dollar volume decreased 11% to $1.52 billion.

NOTE: While luxury sales only made up 27% of the overall number of sales in Jackson Hole, they accounted for 67% of the total dollar volume in 2022.

83% of all sales fell between $5 and $10 million.

In 2022, 20 luxury properties sold for more than $10 million (down 64%). However, only 39% were reported to the MLS; a trend that underscores the necessity of enlisting us when entering this elite market.

The highest priced sale was the Four Seasons Hotel in Teton Village. While this was a private sale, it’s our understanding it sold for $315 million. NOTE: At the end of the year, there were 60 listings priced over $5 million with 24% of those on the market for more than 12 months.

The challenge with tracking luxury market values is the lack of comparable sales.

While many properties in Jackson Hole are worth more than $5 million, no two are alike. For this reason, many sellers start by overpricing their homes beyond market levels and then lower the price progressively until the property reaches market value. This is one reason why 24% of the luxury listings have been on the market for more than 12 months. If you plan to sell your property soon, do not make the mistake of overpricing it. Through our confidential property and market analysis, we can help you through the entire process.

Close analysis of the statistics supports the following conclusion: When compared to year-end 2021 the current overall available inventory is up 94% to 60 listings. In contrast, the average listing price is up 8% to $13.3 million and the median listing price is up a record-breaking 35% to $10.4 million.

Listen to the Numbers

MLS accounted for only 39% of the overall luxury sales in 2022.

Number of sales Decreased 32% to 115

Overall dollar volume decreased 11% to $1.52B

Current overall inventory increased 94% (60 listings)

OVERALL LUXURY SALES BY AREA

THE CURRENT LANDSCAPE

Of the 50 listings, only 10 include 35+ acres.

9 LISTINGS OVER $20 MILLION

THE MOST EXPENSIVE SALE OF 2022

Four Seasons Resort

Available inventory is up 9% when compared to year-end 2021 at 59 luxury listings for sale. With an average listing price of $13.3 million (up 8%) and a median listing price of $10.4 million (up 35%), available inventory breaks down into 29 listings priced between $5 and $10 million (49%); 21 between $10 and $20 million (36%); and nine over $20 million. NOTE: Of the 59 listings, only ten are 35+ acres. 29 LISTINGS (49%) BETWEEN $5-$10 MILLION 21 LISTINGS (36%) BETWEEN $10-$20 MILLION

Once touted as the largest building under roof in Wyoming, the Four Seasons Hotel is nestled in a verdant mountain valley, surrounded by some of America’s most rugged peaks, celebrated ski runs, and an inspiring array of wildlife in nearby Grand Teton National Park. With 181 guestrooms and ski-in/ski-out access, this hotel also includes complimentary wireless Internet access, concierge services, babysitting, three spa tubs, and a heated pool.

OVERALL LUXURY UNDER CONTRACT

At year’s end, six properties were under contract (down 40%) with an average listing price of $11.7 million (up 58%) and median listing price of $5.4 million (down 14%). The decrease in properties under contract reflects the current lack of supply. Of the listings currently under contract, one is commercial, two are single-family homes, and three are townhomes.

6 properties under contract (down 40%)

Median list price of $5.4 million (down 14%)

Average list price of $11.7 million (up 58%)

THE MOST EXPENSIVE UNDER CONTRACT

Largest intact redevelopment site in TOJ. Two blocks from Town Square, four miles south of Grand Teton National Park, 10 minutes’ drive to Jackson Hole Airport, 57 miles to south entrance Yellowstone National Park. Floor Area Ratio of (1.3) with 153,460 Sq Ft. of developable potential. 42’- 46’ Maximum Height. 226’ of Highway 191/89/26 street frontage. Tertiary entrance off Mercill Ave. 76 parking credits.

LIST PRICE $35M

HOMES

INMAN

GOLDEN I WINNER

Best Sales & Marketing of a Luxury Property for our marketing of Rare Legacy Estate

View the video and property at 165Huckleberry.com

We are pleased to announce that our signature film of 165 Huckleberry won the Best Sales and Marketing Campaign for a Luxury Property 2019. The Inman Golden I Club is nothing less than the highest honor in luxury real estate. Since it’s launch in August, the film has had over 45,000 views. Contact us to see if your property qualifies for this marketing initiative. It isn’t always just about the price point as many unique properties in the area also a good fit.

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Single Family Luxury Homes

$5+ MILLION

LUXURY HOMES accounted for 58% of all luxury sales in 2022. All told, the number of home sales is down 39%, the dollar volume decreased by 40% to $56 million. Following suit, the average sale price decreased by 2% to $9.8 million.

Last year ended with 67 home sales priced over $5 million (down 39%), of which 70% sold for between $5 and 10 million. NOTE: In 2022, three homes sold for over $20 million and four are currently available at year’s-end.

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. Based on the number of sales over $5 million in 2022, we have about seven months of inventory.

Of the existing inventory, 21% 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 constricts Buyers. For instance, in the $10+ million segment, Buyers may choose from nineteen homes valley wide. Of those nineteen, seventeen are 10+ years old, fourteen include fewer than 10 acres, and only three are 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

The Westbank logged the most single-family luxury home sales in 2022 with 22. None of the sales sat atop parcels with 35+ acres.

LUXURY HOMES UNDER CONTRACT

There are two luxury homes currently under contract. One is listed for over $10 million.

Number of sales is down 39% Dollar volume decreased by 40%

Average sale price ($9.8M) decreased by 9%

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.

MOST EXPENSIVE SINGLE-FAMILY LUXURY HOME SALE IN 2022

Bugling Elk LIST PRICE: $48M

This extraordinary Estate is located just north of the town of Jackson, along the Gros Ventre River. The property consists of 3 parcels, for a total of 127 acres, with a private pond fed from the spring creek and the Gros Ventre River, with stunning views of the majestic Teton Range. The main home is approximately 13,300 sq. ft. has 7 bedrooms, all en-suite, 2 powder rooms & 10 wood burning fireplaces. The many gathering areas include 1 sitting room off the kitchen & 2 additional areas adjacent to the guest bedrooms on the main & second levels. The cozy library on the 2nd level is ideal for relaxing by the fireplace with a book. The sun room is the perfect spot for wildlife viewing with the awe inspiring pond and the Tetons as a backdrop.

THE CURRENT LANDSCAPE

Available inventory is up 52% when compared to year-end 2021 with 38 luxury homes for sale. With an average listing price of $12.3 million (up 9%) and a median listing price of $10.4 million (up 49%), the available inventory breaks down into the following: 19 between $5 and $10 million (50%); 15 between $10 and $20 million; and four over $20 million (see most expensive home listing below). NOTE: Of the 38 homes listed, only four sit on 35+ acres. Also noteworthy: 79% of the luxury homes currently on the market are more than 15 years old.

MOST EXPENSIVE HOME LISTING AT THIS TIME

Eagle Southfork

LIST PRICE: $48M

Situated in an incomparable location just south of Wilson, this sweeping 110-acre ranch boasts private access to both the Snake River and Fish Creek. A quintessential equestrian property which includes a 7-stall barn with tack room, guest apartment, and caretaker quarters. This expansive ranch also consists of lush, rolling meadows, paddocks, towering mature cottonwoods, and robust native riparian vegetation. Enjoy both privacy and seclusion within minutes of the amenities of Jackson. Two riparian parcels (35+ acres each) are currently undeveloped and allow for a primary and guest house on each. The existing home features an exceptional deck overlooking a private island in Fish Creek, accessible by wooden foot bridge for an ideal evening spent by the creek side. This is a legacy property for generations to come.

Listed by Mercedes Huff, Sotheby’s Jackson Hole

Vacant Luxury Lots

$5+ MILLION

The demand for vacant luxury lots in 2022 decreased 32% when compared to year-end 2021. Sales totaled 17 transactions with a dollar volume of $110 million. Seven sales occurred on the Westbank; seven sales occurred in the Gros Ventre Buttes; one North of Jackson; and two South of Jackson.

Vacant luxury lots under contract – None as of year’s-end.

As previously discussed, several factors accelerated sales of luxury lots. Current luxury home inventory, while up 52%, only six homes were built in the last 10 years. NOTE: Only four of the 38 luxury homes currently listed sit on 35+ acres.

HOT SPOT

The Westbank and Gros Ventre Buttes shared the honor with seven Luxury lot sales each in 2022.

CURRENT LANDSCAPE

Available inventory of luxury lots is up 100% at the end of 2022 with a total of 13 single-family luxury home sites currently listed. With an average list price of $13.8 million (up 18%) and a median list price of $12 million, available inventory breaks down into the following: five lots listed between $5 and $10 million, five listed between $10 and $20 million, and three listed at more than $20 million.

Of the 13 listings, five offer 35+ acres.

MOST EXPENSIVE LOT SALE

Bar BC Ranch Parcel 8

LIST PRICE: $9.5 MILLION

Bar BC Ranch parcel 8 is a 35.5-acre parcel within a 850+acre ranch in Spring Gulch. The Ranch borders both the Snake and Gros Ventre rivers and is one of the few gated communities in the Valley. Enjoy direct Teton views from this premier lot in the highly desirable and gated Bar BC Ranch. It is an ideal building location with easy access from the ranch entrance, stunning views to the north and south, and Sleeping Indian to the east. Walk the ranch trail to the Snake and Gros Ventre Rivers to fish or just relax.

Listed by Ed Liebzeit, Sotheby’s Jackson Hole

The Skyline Ranch Estate

This spectacular, 7 acre estate in Skyline Ranch is located adjacent to the 215 acre Puzzleface Ranch, now under conservation easement, assuring protected Teton views for ages to come. In 2010, the main residence underwent a 2.5 year, multi-million dollar remodel and addition using the finest materials to create a new master wing, and an open floor plan to take advantage of spectacular views, while preserving the unique, 40-foot ceilings no longer allowed in Teton County. In addition to the master wing, the main residence also has two junior suites, and two additional guest rooms. Downstairs is a walk out basement with wrap around patio, full-sized gourmet kitchen, and Teton views from nearly every window, and a separate entrance making it two houses in one for a multi-generational space. Added in 2019, is a cozy two bedroom + bonus room guest house with wrap around deck and a 6 stall horse/toy barn that overlooks the fishing pond and main residence. Polar X is large enough to be a family compound where large gatherings can be hosted, yet so well thought out that each space feels cozy and intimate unlike most large homes. The only exception to the rule is the amount of outdoor space that includes a 1600 sq. ft. outdoor deck with a built-in, gas fire pit, a 10-person spa tub, and a covered 1600 sq. ft. patio for over 3000 sq. ft. of outdoor space to enjoy Teton sunsets and cool, mountain evenings.

Located nearly equidistant to Jackson Hole’s Historic Town Square and Jackson Hole Mountain Resortranked continuously as the #1 Ski Resort in North America- This Skyline Ranch Estate provides the best of everything to the discerning Jackson Hole Buyer.

Ranch, Wyoming’s first conservation easement. This assures the property has protected Teton views and the freedom of no covenants or restrictions on the property. In 2010, the main residence underwent a 2.5 year, multi-million dollar remodel and addition using the finest materials to create a new master wing, and an open floor plan to take advantage of spectacular views, while preserving the unique, 40-foot ceilings no longer allowed in Teton County.

In addition to the master wing, the main residence also has two junior suites, and two additional guest rooms.

Downstairs is a walk out basement with wrap around patio, full-sized gourmet kitchen, and Teton views from nearly every window, and a separate entrance making it two houses in one for a multi-generational space.

Added in 2019, is a cozy two bedroom + bonus room guest house with wrap around deck and a 6 stall horse/toy barn that overlooks the fishing pond and main residence. Polar X is large enough to be a family compound where large gatherings can be hosted, yet so well thought out that each space feels cozy and intimate unlike most large homes. The only exception to the rule is the amount of outdoor space that includes a 1600 sq. ft. outdoor deck with a built-in, gas fire pit, a 10-person spa tub, and a covered 1600 sq. ft. patio for over 3000 sq. ft. of outdoor space to enjoy Teton sunsets and cool, mountain evenings.

Chris Van Allsburg lived at the storied Polar X Ranch for a time in the 80s and penned the famous Children’s book The Polar Express, now a major motion picture. The Polar Express Estate, which is composed of 7 acres with protected Teton views, is nestled between the Skyline Ranch community and the 225- acre Puzzleface

Located nearly equidistant to Jackson Hole’s Historic Town Square and Jackson Hole Mountain Resortranked continuously as the #1 Ski Resort in North America- The Polar X Ranch provides the best of everything to the discerning Jackson Hole Buyer. Listed for $14,995,000.

Listed by Andrew Ellett Engel & Völkers Jackson Hole

Luxury Condo/Townhomes

LUXURY CONDO/TOWNHOMES are few but not far between in Jackson Hole, and all but 12 are located in Teton Village. Currently, 152 units qualify for the Jackson Hole Luxury Report with values of $5+ million.

In 2022, the number of luxury condo/townhome sales were up 50% from 2021 with a total of 15 sales, and the dollar volume increased 68% to $104 million. Of the 15 sales, one was in Tram Tower, two in Four Seasons, one in Snake River Lodge & Spa, three in Granite Ridge, four in Shooting Star, and four in the Town of Jackson.

The breakdown is as follows: 38 units in the Four Seasons Hotel; all 21 Granite Ridge Lodges; 73 units in Shooting Star (Lodges or Cabins); two in Snake River Lodge & Spa; four in Crystal Springs Lodge; two in the Tram Towers; and 12 in the Town of Jackson.

73 Shooting Star (Lodges or Cabins)

38

Seasons Hotel

CURRENT LANDSCAPE

MLS shows six Luxury units listed—two in Teton Village and three in the Town of Jackson. They range in size from 2,234 to 3,422 sq. ft. and prices range from $5.25 to $12.5 million. One is in the Timbers of Granite Ridge, three are in Town and the most expensive is in Four Seasons Hotel. Only the Four Seasons condo is being offered furnished. All but one allow short-term rentals. Please contact us for a complete list of available Luxury townhouses.

Jackson Hole Report Podcast

There are currently Five Luxury units listed.

Tune into our Podcast at jhreport.com for a current, and more in-depth conversation about the current real estate market.

MOST EXPENSIVE LUXURY CONDO/TOWHOME SALE REPORTED TO MLS

North Cabin at Shooting Star

Set within Shooting Star, a private Ski and Golf community in Teton Village, this rustic yet elegant North Cabin at Shooting Star offers luxurious comforts and amenities with easy access to endless outdoor recreation. This ideal location is nestled mere steps away from the tennis courts, Shooting Star Clubhouse, and Tom Fazio Golf Course. Completed in 2017 this Cabin features timeless mountain charm with its reclaimed barnwood siding, Montana moss rock stone, and custom finishes. The open concept kitchen/dining/ living area allows for easy entertaining and breath-taking views from every angle. This home is being offered with all the beautiful furnishings, kitchenware, and linens making this home ready to move into or short-term rent. Personal items and art excluded. Sold fully furnished.

Sold for $11 million.

MOST EXPENSIVE LUXURY CONDO/ TOWHOME LISTING

Arts District West

Expansive floor to ceiling windows overlook stunning town and mountain views from this state of the art 4-bedroom, 4-bathroom condominium created with ease of living in mind. Featuring Wolf Sub-Zero appliances, Waterworks plumbing, card access for security/private entry, a video door phone system and more. Created to enjoy for a week, a month, or forever, Arts District West is the perfect mountain residence. Mindfully designed for refined day-to-day life yet captivating enough to attract high end renters looking for the perfect getaway. Spend an active day on Snow King or Cache Creek and an evening dining downtown before taking in the many events at the Center for the Arts. For those wishing to relax, private balconies with hot tubs answer the call for a slower pace and recuperation.

Listed for $5.25M

Listed by Collin Vaughn, Sotheby’s Jackson Hole

LIST WITH US

For the Seller

Our extensive market knowledge will help you to price your property in this ever-changing market, and our marketing expertise will ensure that you sell your property in a timely manner for the highest possible price. Respecting the unique characteristics of each and every property, we believe that every listing requires a different marketing strategy. We will develop a customized plan for you; market updates, showings, open houses and revised marketing plans are scheduled according to your desired frequency. We are skillful negotiators and will work to make the entire process, from start to finish, as streamlined as possible. We will live up to your high expectations.

NEW!

Engel & Völkers Signature Film

Our Signature Films capture the imagination of buyers around the world allowing them to experience the unique lifestyle and distinctive features of your property.

Visit 165Huckleberry.com to view an example.

We will provide you with the most accurate, in-depth data in the Jackson Hole market, helping to value your listing accurately. Armed with analysis, we will then price your property according to your needs.

We know the market better than anyone else because our extensive database tracks every real estate transaction in Jackson Hole. Only 54% of sales went through the local MLS in 2022. When pricing your property, you cannot rely on only 1/2 of the data.

We will expose your home to our extensive list of former and current buyers.

We always use a professional photographer and will be on site for the shoot to ensure that every room is shot at the best angle. Drone photography for aerial photos are available as well.

We are truly connected to the Engel & Volkers network of over 16,000 advisors and 900 shops in over 37 countries on five continents, including all divisions of E&V such as E&V Aviation, E&V Yachting, and the E&V Polo School, to ensure the property is marketed to the longstanding clientele of our 40+ year-old brokerage.

The property will be on “Shop TV” which is the same channel of rotating properties played on displays at each E&V shop in the United States and Canada.

We hire a professional copywriter to help us with content for brochures, ads, and the property website.

Your property will have the most extensive online presence offered.

We know what is valued in property and will advise you accordingly.

We know about operating costs and can advise potential buyers accordingly.

Your property will be featured on the Engel & Völkers website, which attracts many brokerage prospects.

We will conduct open houses to expose your property to other local realtors, one of the most valuable ways to show off your property and find a buyer.

We will market your property through the Teton County Multiple Listing Service (MLS), exposing your listing to over 755 agents in the region who can help us find a buyer.

We will create a personal website for your listing: For all listings above $5 million, and for those special listings under $5 million, we will build a custom website highlighting all of your property’s special features. The listing’s website address will be included in all advertising to make sure luxury buyers can find it.

We will produce an in-house, color brochure for your property and make it available in our brokerage, on the web, on your yard sign, and to every prospective buyer who previews your property.

We will advertise your property in the Jackson Hole News & Guide and the Jackson Hole Daily, by far the most widely distributed print media in Jackson Hole and the entire region.

We do more to ensure your property is sold for the highest price in a professional and timely manner. As part of a brokerage driven to provide excellent service to our clients and customers, we welcome the opportunity to add you to our long list of successful relationships.

For the Buyer

When you’re in the market for a property or new home in Jackson Hole, it is imperative that you work with a qualified and experienced real estate professional.

I had come to know David and Devon as professionals recognized in the community for their integrity, with whom I‘d always be comfortable in my dealings. And, with their understanding of the market, and transaction records, I believed them to be the most knowledgeable individuals in the Valley in terms of transaction histories and current property values. My spouse and I were able to engage David and Devon as our brokers.

Our transaction requirements were complicated. There were tax issues and multiple choices and difficult negotiations. David’s advice on property values and negotiating timing and strategy was “spot on”. David’s recognized integrity allowed him to achieve results that would have otherwise not been available.

My spouse and I closed on our two targeted Spring Creek Ranch property acquisitions on February 27, 2018. David represented us at the closing.

CLAY COOK AND JUDITH TABLER

We are skilled negotiators with a deep understanding of the business and the market. David and Devon have lived in the Tetons for three decades and Luke is a Jackson Hole Native. We have the knowledge and experience of being “locals”, not to mention the strong personal and professional relationships we have developed with vendors, contractors and government contacts throughout the region. Our reputation for integrity and professionalism is based upon the relationships we have built on trust and longevity, relationships that are crucial elements in collaborating on successful transactions. Our strong network in the valley gives us the competitive advantage over other real estate professionals in the area.

Finding a seasoned professional is only the beginning. As a buyer, you must rely on your agent to give you the most accurate, up-to-date market information available. We take the approach of showing

you all available properties, irrespective of their listing brokerage. As your representative, we provide you with dedicated, knowledgeable and responsible support. We deploy our unique market experience, knowledge of the inventory and skills to ensure a successful outcome. Our passion for the valley real estate market is rooted in our knowledge of the Teton region itself. We offer local insights on the area, the unique lifestyle and the special needs of living in this World Heritage Site.

Our team views the services we provide as a complement to the incredible environment and community we have been fortunate to be members of for decades. If you are just beginning your exploration of Jackson Hole, please turn to us for information on local real estate prices, schools, economics, recreational opportunities, and personal lifestyle.

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David Viehman understands that real estate is about relationships – the ties forged between people and place. He has devoted his life to sharing the valley he loves so dearly with people keen to plant roots in Jackson Hole. A Florida native, David moved to Jackson over three decades ago with his wife Donna and daughter Devon. Having begun his real estate career in 1982, David dove into the Teton real estate world, and quickly discovered the valley presented a distinct market worthy of analysis. Twenty-six years ago, he published the first Jackson Hole Report, a quarterly newsletter tracking sales and listings. Now considered the definitive source on valley real estate trends, the Jackson Hole Report has been cited in national publications including The Robb Report, The Wall Street Journal, New York Times, US NEWS, Chicago Tribune, Washington Post, Los Angeles Times, San Francisco Chronicle, and NPR. To this day, David’s singular approach to the local market melds detailed analytics with personal attention. Knowing the valley as well as he does allows him to deftly find and feature properties for his clients, particularly when it comes to the luxury market.

307 690 4004

david@jacksonholereport.com

Growing up in Jackson Hole, Devon Viehman embraced the cowgirl lifestyle with a drive and determination that foreshadowed her career to come. Beyond the rodeo arena, Devon has built a name for herself as topproducer among valley Realtors. She has garnered industry accolades throughout her sixteen-year career: In 2011, Realtor Magazine featured her as one of its Realtors to watch on “The 30 Under 30” national list. She served as the youngest-ever President of the Teton Board of Realtors in 2012 and was named Realtor of the Year by the Wyoming Association of Realtors the following year. Committed to development, Devon was elected as the Wyoming Association of Realtors 2018 President and serves on committees for the National Association of Realtors. Every quarter, she co-authors the Jackson Hole Report with her dad, David and husband, Luke. She is currently a Teton County Planning Commissioner and is committed to seeing Jackson Hole grow in a smart, sustainable way. Her professional accomplishments are matched by the fulfillment she feels as a mother to her 13-year-old son.

307 690 0621

devon@jacksonholereport.com

Raised in Jackson Hole, Luke was introduced to the myriad of outdoor pursuits Jackson Hole has to offer at an early age. From camping, mountain biking, hiking, river floating and fishing in the summers to skiing, ice hockey and snowmobiling in the winters, Luke has lived the Jackson lifestyle since a very young age. The abundance of activities and fun that the Jackson Area has to offer is what brought Luke home after college.

A graduate of Colorado State University, Luke is a successful small business owner in Jackson and brings his down-to-earth practices to real estate. Luke understands that lasting relationships are the foundation for a successful relationship with his clients. He has been here for decades and will be here for decades to come. An 11-year veteran of the Moose Hockey team, Luke still enjoys participating in Jackson Youth Hockey as a coach and continuing the tradition his father started decades ago. He is an avid fly fisherman and enjoys sharing a day on the river with friends and clients; letting them experience the river.

307 699 5921

luke@jacksonholereport.com

Sales Associate

Josie moved to Jackson Hole 18 years ago after spending a single summer being mesmerized by the stunning beauty of this small Western town. She grew up in Lookout Mountain, Georgia with a deep love of home, family, community, and lasting relationships. After graduating from the Baylor School in Chattanooga, Tennessee, Josie went on to the University of Georgia where she studied Studio Art. Her art education led to a lasting interest in design of interior spaces, particularly of homes.

After settling in Jackson, her western home and heart were made whole with the addition of her children, Gaines and Susannah. Motherhood is, without a doubt, her proudest achievement, she says. Raising her children in Jackson Hole is a continuous joy that naturally evolved into a strong desire to match others with the perfect home for their families.

Perhaps the most important thing to know about her is that she does not simply talk about buying a home and investing here. As a homeowner, mother, resident, and member of the community, she is fully invested and is proud to call Jackson Hole her home.

307 699 4889

josie@jacksonholereport.com

David Viehman

Associate Broker

Devon Viehman Associate Broker

Luke Smith Associate Broker / Licensed in WY & ID

Josie Daniel

THERE ARE MANY REASONS TO LOVE WYOMING...

Why Wyoming

For a decade running, Wyoming has ranked #1 for business-friendly taxation on Tax Foundation’s annual State Business Tax Climate Index.

Wyoming does not charge state tax on personal or corporate income. And its sales tax, property tax and inheritance tax are among the lowest in the U.S. In particular, property taxes are based on assessed value. The Teton County rate is 1.2% of the property’s assessed value while the Town of Jackson rate is 0.8%.

In Wyoming, you can shield your real estate from federal estate taxes for up to 1,000 years by establishing a dynasty trust. As a result, multiple generations can make use of and enjoy the property without having to pay estate taxes or worse, having to sell the property in order to pay the taxes.

No state income tax

No corporate tax

No estate tax

No capital gains tax

No trust tax

Low sales tax

Low property tax

Low inheritance tax

No state gift tax: a Wyoming property owner can gift that real estate to their heirs without paying a state gift tax. No tax on out-of-state retirement income. Second-homeowners may have retirement income from another state; Wyoming doesn’t tax retirement income earned beyond its borders. No excise sales taxes. A tank of gas or bag of groceries are not burdened by state tax.

No intangible taxes: Wyoming does not tax financial assets like stocks and bonds. No tax on the sale of real estate.

No tax on mineral ownership.

Exposure

Notall properties are created equal, yet Engel & Völkers values every home our advisors represent and will dedicate the expertise, time, and unmatched marketing resources we possess to help you sell your property to the right buyer at the right price. Our Extensive Domestic & Global Exposure (EDGE) platform provides unprecedented reach to get your property in front of qualified consumers, whether they are next door, in The Americas or abroad, because they deserve to see it, and you deserve to sell it. Working with an Engel & Völkers advisor gives you the EDGE that allows each home listing extensive online exposure in major markets where a potential buyer for your property may exist, with today’s savvy consumers and international clientele. But we don’t stop there ...

Engel

& Völkers provides luxury services to each of its clients worldwide. With a global network of more than 16,000 real estate professionals in over 37 countries, we not only reach millions of targeted consumers, but we collaborate with our fellow Engel & Völkers advisors to strategically handpick and refer buyers for the specific properties they seek ... like yours.

Significant Sales

Here are some of our significant sales over the last 30 years that we have been involved with either on the listing, selling or both sides. Will you be one of our significant sales in 2022?

HUCKLEBERRY ESTATE

Rare Legacy Estate Offering on Six Lots at Jackson Hole Golf & Tennis List price $15.5 million

SPRING CREEK EQUESTRIAN CENTER

World Class Equestrian Facility in the heart of Jackson Hole List price $20 million (2002 sale)

PACIFIC CREEK IN-HOLDING

Custom log home with two parcels on Pacific Creek, totaling 8.8 acres. List Price $8.5 million

ELLEN CREEK

Luxury Living in Teton Village at this ski retreat. List price $12.5 million

VOGEL HILL RANCH #10

35-acre parcel with elevated views of the valley and Tetons. List price $8.5 million

3 CREEK CABIN

Custom Cabin on the golf course. List price $4.35 million

ON SNAKE RIVER

215 acres north of Jackson, on Snake River (first sale ever). List price $5 million

FAIRWAYS ESTATE AT JACKSON HOLE

Stunning 8,000 sq. ft. home on three acres with big Teton views. List price $6.25 million

RIVER SPRINGS

Exquisite

4/B RANCH

The

Landmark

GILL ADDITION

GRANITE

3 CREEK CABIN

GRANITE RIDGE LODGE #10

Luxury Ski townhome located directly on the slopes at Teton Village. List price $4.2 million

TUCKER RANCH

Custom log home in Tucker Ranch. List price $10 million

For 31 years, the Community Housing Trust has been dedicated to conserving community.

With home prices well beyond the reach our dedicated workforce can afford, our work is more important than ever.

In 2023, the Community Housing Trust will begin development of two projects that will provide 44 homes for critical members of our community that contribute to our incredible quality of life in Teton County.

Help us put them on the map.

30

We hope the Jackson Hole Luxury Report gave you a snapshot of the trends unique to our local luxury market. To further discuss our research or to receive a digital copy, please contact us at (307) 690-4004 or david@ jacksonholereport.com. You also can write to us at: P.O. Box 2431, Jackson, WY 83001, Attn: David Viehman.

* All statistics quoted in the Jackson Hole Luxury Report have been supplied by sources that have been deemed reliable but are not guaranteed.

* All statistics are based on sales in 2022 compared to 2021.

* If your property is currently listed, this is not meant as a solicitation.

JACKSON HOLE LUXURY REPORT GLOSSARY

Median sale price: the price of a property that falls in the exact middle of the price scale, as in there are the same number of sales above and below it.

Average sale price: the total combined dollar volume divided by the number of sales.

Market value: the value of property in terms of what it can be sold for on the open market; current value.

Overall: All luxury sales in Teton County combined – homes, lots, condos, commercial and ranch.

© Copyright 2013-2023 by David E. Viehman. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means without explicitly written permission from David E. Viehman.

28TH ANNIVERSARY

DAVID VIEHMAN DEVON VIEHMAN LUKE SMITH JOSIE DANIEL

PO Box 2431, 70 S. King Street | Jackson, WY 83001

Our mission.

Our Group offers guidance and outstanding market knowledge to successfully navigate you through the Jackson Hole luxury real estate market. Give us your list of must haves, we’ll listen to your vision and bring it to life. Our Group is passionate about matching our clients with homes that reflect their lifestyles. Our team-approach philosophy ensures your needs are important to each and every member of our organization. We value the opportunity to serve all your real estate needs.

JacksonHoleLuxuryReport.com | 307.690.4004