11 minute read
Vacant Luxury Lots
The demand for vacant Luxury lots to date is up 50%, an all-time high. Sales totaled twelve transactions with a dollar volume of $73.9 million (up 121%). Q2 2020 ties Q2 2007 when twelve lots sold for over $3 million, with a dollar volume of $52 million.
Vacant Luxury lots under contract are up 25%, with an average list price of $7.75 million. NOTE: All are 15+ acres.
Several factors continue to accelerate sales of Luxury lots. 71% of the current Luxury home inventory classifies as outdated product (15+ years old), with only 16 homes built in the last 10 years. NOTE: Only seven of the 67 currently listed Luxury homes sit on 35+ acres.
H O T S P O T
South of Jackson and the Westbank share the most Luxury lot sales to date with four Luxury parcels each, for a total dollar value of $19.6 and $20.5 million respectively.
CURRENT LANDSCAPE
Available inventory of Luxury lots is up 4% in 2020 with a total of 30 single-family Luxury home sites currently listed. With an average list price of $6.3 million (up 7%), and a median list price of $5.3 million (up 18%), available inventory breaks down into the following: 11 lots listed between $3 and $5 million; 17 between $5 and $10 million; and two at more than $10 million.
Of the 30 listings, 10 offer 35+ acres.
M O S T E X P E N S I V E L U X U R Y L O T S A L E
A 59-acre elevated tract east of Jackson in the new Vogel Hill Ranch. Ranch No. 7 is the largest ranch on the hill, encompassing 59.205 acres of spectacular Teton Views, southern Snake River valleys and wide vistas into Grand Teton National Park. Vast sightlines across Wyoming ranch land and southern mountain ranges compliment this panoramic home site, occupying the southeastern corner of the hill. Hidden within one of Jackson’s oldest family homesteads, Vogel Hill invites you to own a piece of true Wyoming history. With the Spring Gulch ranch corridor and the majestic Teton Mountains as your backdrop, this is one of the last great wild places in America. At Vogel Hill, 430 acres have been divided into eight unique ranches and 100+ acres of preserved recreational land for the owners to further experience this magnificent property.
LIST PRICE $12M Brandon Spackman | Jackson Hole Sotheby’s International Realty
Luxury Condo/Townhomes
Luxury Condo/Townhomes are few but not far between in Jackson Hole: Almost all are located in Teton Village. 163 units worth $3+ million currently qualify for the Jackson Hole Luxury Report.
They break down as follows: 39 units in the Four Seasons Hotel; all 21 Granite Ridge Lodges; 72 in Shooting Star (Lodges or Cabins); 16 Granite Ridge Homesteads; 6 Timbers at Granite Ridge; 1 Snake River Lodge & Spa; 2 Granite Ridge Cabins; 2 Crystal Springs Lodges; and 4 in the Town of Jackson.
In the first six months of 2019, the number of Luxury condo/townhome sales was up 50% (12 total sales) with the dollar volume up 77% to $62.8 million. Of the 12 sales, one was a Granite Ridge Homestead; seven were in Shooting Star; one was a Crystal Springs Lodge; one was a Granite Ridge Cabin; one Four Seasons condo and one in the Town of Jackson. 72
39
21
16
6
4
2
2
1
Shooting Star (Lodges or Cabins)
Four Seasons Hotel
Granite Ridge Lodges
Granite Ridge Homesteads
Timbers at Granite Ridge
Town of Jackson
Crystal Springs Lodge
Granite Ridge Cabin
Snake River Lodge & Spa
CONDO/TOWNHOMES UNDER CONTRACT
There are 10 Luxury townhomes currently under contract or reservation (up 11%). Nine are new and within Shooting Star, and one is a Granite Ridge Lodge. They range in size from 4,074 to 5,095 sq. ft. Prices range from $5.2 million to $8 million.
M O S T E X P E N S I V E
C O N D O / T O W N H O M E U N D E R C O N T R A C T
Homesteads at Shooting Star 5 bedroom, 5.5 baths – 4,759 sq. ft. LISTED AT $7.95M John Resor | The Clear Creek Group
There are “six” Luxury townhomes currently listed. They range in size from 2,800 to 3,700 sq. ft. and prices range from $3.75 to $4.65 million.
CURRENT LANDSCAPE
A 3,310 sq. ft. cabin at Shooting Star with 3 bedrooms and 3.5 baths for $5.5 million. This Shooting Star Cabin is located right in the heart beautiful Shooting Star. Bordered by a beautiful stream and Shooting Star’s worldclass golf course, this Cabin is the perfect property for those looking for privacy, yet just stones throw from all the amenities of Shooting Star and Teton Village. The house is 3,300 sq. ft. with 3 bedrooms, 3 full bathrooms and a powder room in the main upstairs living area. Impeccably furnished with spectacular views of the Teton Range to the west and the Gros Ventre mountains to East, this is the perfect home for Buyers looking for a turnkey property that encompasses everything Jackson Hole has to offer. $5.5M John Resor | The Clear Creek Group MLS shows six Luxury units listed—all but one are in Teton Village. They range in size from 2,800 to 3,700 sq. ft. Prices range from $3.75 to $4.65 million. Five are in Granite Ridge and one in the Town of Jackson. Four of the six are furnished. Please contact us for a
M O S T E X P E N S I V E L U X U R Y C O N D O / T O W H O M E S A L E
TO DATE IN 2020
Shooting Star Cabin
complete list of available Luxury townhouses.
AT THIS TIME
Granite Ridge Homestead #11
Granite Ridge Homestead #11 has an ideal Teton Village located in the heart of the Granite Ridge Subdivision. This 4 bedroom, 4 ½ bath Homestead is comprised of 3,317 square feet of mountain home living space. Enjoy cooking and entertaining in the open and updated kitchen adjacent to the large great room. Cathedral ceilings, stone fireplace, hardwood floors, granite and quartzite counters and a luxurious master suite make this a special home. The new outdoor deck is surrounded by lush landscaping and large pines. An attached two car heated garage fully trimmed out with extra storage leads to a spacious lower level of the home. The house has never been rented and is in immaculate condition. List price $4.65 million.
LIST PRICE $4.65M
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 66% of sales went through the local MLS in 2018. When pricing your property, you cannot rely on only 2/3 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 9,000 advisors and
750 shops in 37 countries across the globe, including to 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 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 500 agents in the region who can help us find a buyer.
We will create a personal website for your
listing: For all listings above $3 million, and for those special listings under $3 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.
BUY WITH US
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.
David and Devon Viehman are the best realtors I have ever worked with - buying or selling a property in the Jackson Hole area. This is the third home I have sold in Jackson and they did it in one day! From the time the offer was placed to the closing they responded to phone calls, texts and emails immediately. Wise advice and guidance through out the process. I will use them again in the future and would not even consider anyone else in Jackson to work with.
ROSANNA MITCHELL Jackson, Wyoming 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.
