Jackson Hole Real Estate Market Report | Year End 2017

MARKET REPORT TETON COUNTY, WY — YEAR END 2017

TETON COUNTY, WYOMING — 2017 SALES VOLUME VS. UNITS SOLD YEAR TO DATE DEC. 2007-2017 SALES VOLUMES

UNITS SOLD

SALES VOLUME

UNITS SOLD

$800M

600

$700M 500

$600M

400

$500M $400M

300

$300M 200 $200M 100

$100M 2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

The number of annual sales in Teton County are currently constrained by a lack of available inventory. Limited supply and increased demand (especially on the heels of the new tax bill) are pushing individual property values upward. This lack of available inventory is particularly pronounced within Teton Village, Wilson and West of the Snake River, and the Town of Jackson.

Transactions within the Town of Jackson accounted for more than a third of all sales in Teton County in 2017. Nearly 73% of all real estate transactions in the county during the same period occurred at sales prices below $1,500,000.

UNIT SALES BY AREA

SALES VOLUME BY PRICE CATEGORY

YEAR TO DATE DEC. 31 2016 VS. 2017

YEAR TO DATE DEC. 2016 VS. 2017

YEAR TO DATE 2016

YEAR TO DATE 2016

YEAR TO DATE 2017

180

164

81

175M

160

81

$150M

140

235 $125M

120 103 100

95 82

80 60

YEAR TO DATE 2017

180

77

73 59

64

224

121

117

32

14 17

29

$100M $75M $50M

54

$25M

40 TETON VILLAGE

WEST OF SNAKE RIVER

NORTH OF TOWN

TOWN OF JACKSON

SOUTH OF TOWN

< $850K

$850K-$1.5M

$1.5M-$3M

$3M-5M

>$5M

UNITS SOLD

SINGLE FAMILY HOMES # of Single Family Homes Sold Year End 2017 Average Sale Price % Change in Average Sales Price from Year End 2016 Average Days on Market

193 $1,991,200 +13% 198

NUMBER OF UNITS SOLD YEAR END 2016

63

45

49

38

48

50

45

44

42

42

40

33

30

40

37 34

34

32

28

30

20 10

END OF JAN. 2018

60

52

40

END OF JAN. 2017

70

60

54

50

END OF JAN. 2016

YEAR END 2017

70 60

ACTIVE LISTINGS

20

8

10

6

TETON VILLAGE

WEST OF SNAKE RIVER

NORTH OF TOWN

TOWN OF JACKSON

SOUTH OF TOWN

9

9

TETON VILLAGE

8

WEST OF SNAKE RIVER

NORTH OF TOWN

TOWN OF JACKSON

SOUTH OF TOWN

Single family homes in the $1.5-$3M range were the only market segment to show vitality during 2017. The segment priced below $850K experienced significant constraint in sales due to a lack of available inventory.

36

CONDOMINIUMS/TOWNHOUSES # of Condominiums Sold Year End 2017 Average Sale Price % Change in Average Sales Price from Year End 2016 Average Days on Market

169 $733,300 +2.9% 145

NUMBER OF UNITS SOLD YEAR END 2016

ACTIVE LISTINGS *excludes fractional units

END OF JAN. 2016

YEAR END 2017

100

END OF JAN. 2017

END OF JAN. 2018

93 84

70

80

60 50

60

43

40

43

40

31

32

30

22

20

20

6 TETON VILLAGE

WEST OF SNAKE RIVER

9

NORTH OF TOWN

5 TOWN OF JACKSON

11

SOUTH OF TOWN

23 17

18 8

10

TETON VILLAGE

20

12

11 4

WEST OF SNAKE RIVER

3

1 NORTH OF TOWN

1

0 TOWN OF JACKSON

0 SOUTH OF TOWN

Condominiums/Townhouses included sixteen fractional units in the year ending 2017 compared to nine during 2016. The average price of fractional units sold in 2017 jumped 28% (to $149,400) compared to 2016.

1

LAND & RANCHES # of Land & Ranch Sites Sold Year End 2017 Average Sale Price % Change in Average Sales from Year End 2016 Average Days on Market

90 $1,750,700 -2.2% 510

ACTIVE LISTINGS

NUMBER OF UNITS SOLD YEAR END 2016

END OF JAN. 2016

YEAR END 2017

END OF JAN. 2017

END OF JAN. 2018

82 76 70

70

60

60

50

50

40

40

31

30

20

20 10

29

15 8

10

WEST OF SNAKE RIVER

NORTH OF TOWN

37

10

13 10

TOWN OF JACKSON

SOUTH OF TOWN

39 30

30

23

25

21

19

20

15

5

TETON VILLAGE

58

9

12 5 TETON VILLAGE

6

5 WEST OF SNAKE RIVER

NORTH OF TOWN

TOWN OF JACKSON

SOUTH OF TOWN

Although Land & Ranches includes one significant sale (originally listed at $53M)â&#x20AC;&#x201D;unit volume of vacant land jumped 40% while the average selling price fell 17%.

MAIN OFFICE 185 WEST BROADWAY

EAST BROADWAY 110 EAST BROADWAY

FOUR SEASONS RESORT 7680 GRANITE LOOP ROAD

HOTEL TERRA 3335 WEST VILLAGE DRIVE

MANGY MOOSE 3295 VILLAGE DRIVE

SNAKE RIVER LODGE & SPA 7710 GRANITE LOOP ROAD

TETON MOUNTAIN LODGE 3385 WEST CODY LANE

VILLAGE MARKET 3200 MCCOLLISTER DRIVE

WILSON 1230 NORTH IDA LANE

JACKSON HOLE RACQUET CLUB 3535 NORTH MOOSE-WILSON ROAD

TETON PINES RESORT 3415 NORTH PINES WAY

TETON VALLEY, IDAHO ONE SOUTH MAIN STREET

Although the foregoing data has been compiled from sources deemed reliable, Jackson Hole Sotheby’s International Realty does not guarantee its authenticity. It is intended for informational purposes only, is subject to prior sale, error, revision, and cancellation without notice, and should be independently verified with the source of such information.

Source data is provided by Teton Board of Realtors MLS and supplemented with proprietary sales data for $0 sales. ®,™ and SM are licensed trademarks to Sotheby’s International Realty Affiliates LLC. An Equal Opportunity Company. Equal Housing Opportunity. Jackson Hole Sotheby’s International Realty is Independently Owned and Operated.