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