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)

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