MARKET REPORT TETON COUNTY, WYOMING QUARTER 3
2020
TETON COUNTY, WYOMING — Q3 2020 In early summer when local restaurants and other
SALES VOLUME BY AREA
businesses cautiously re-opened, no one could have
Q3 YTD 2019 VS. 2020
predicted what was in store for the regional real estate market.
Q3 YTD 2019
In all of 2019, and according to the Teton Board of
Q3 YTD 2020
Realtors MLS data, the valley saw $922M in sales
UNITS SOLD 98 89
$300M
volume on 514 sales (or an average overall sale price of about $1.8M). As of the end of September this year, the Teton County market now finds itself in new territory. By the end of Q3, Jackson Hole sold volume posted nearly $1.15B (and with an average transaction price of more than $2.7M). By Labor Day this year, the Jackson Hole market had already eclipsed the 2019 annual total. In addition, more than $600M in listings
$250M 130
$200M
68 158
$150M
37
80
57 63
$100M
52
$50M
are currently under contract, which means the final total for 2020 sales volume could approach $1.8B in
TETON VILLAGE
sales (or nearly double the 2019 numbers).
WEST OF SNAKE RIVER
NORTH OF TOWN
TOWN OF JACKSON
UNIT SALES BY AREA
SALES VOLUME BY PRICE CATEGORY
Q3 YTD 2019 VS. 2020
Q3 YTD 2019 VS. 2020
Q3 YTD 2019
Q3 YTD 2019
Q3 YTD 2020
Q3 2YTD 020
SOUTH OF TOWN
UNITS SOLD
$600M 158
$500M
Cover Properties: #MN4ECW, VKPZQB
130
80
68
63
57
52
$400M
98
89
$300M
$100M
WEST OF SNAKE RIVER
NORTH OF TOWN
TOWN OF JACKSON
SOUTH OF TOWN
92
$200M
37
TETON VILLAGE
56
169 110
< $850K
84
100
116
$850K-$1.5M
52
23
29
$1.5M-$3M
$3M-5M
>$5M
LAND & RANCHES
Featured Property: #JVPB3Z
For the first three quarters of 2020, 83% of all sold listings were residential improved properties (a home, Number of Land & Ranch Sites Sold Q3 YTD 2020
Average Land & Ranch Sites Sale Price
% Change in Average Sales Price from Q3 2019
Average Days on Market
71
$2,215,331
15.6%
513
County is protected as National Park, National Forest or other conservation holding), vacant privately-held land is scarce. The sale of a 1.42-acre parcel in Shooting Star listed for $5.3M (or approximately $3.7M-per-acre) was noteworthy, but the sale of a 0.2-acre parcel at the base of Snow King for $900,000 suggests the highest price-per-acre values reside in the Town of Jackson.
AT A GLANCE
terrain (where more than 98% of all land is Teton
CURRENT AREA STATS
townhome or condo). By the nature of the valleyâ&#x20AC;&#x2122;s
CONDOMINIUMS/TOWNHOUSES Of the 120 year-to-date condo or townhome sales in Jackson Hole, nearly two-thirds occurred in the town of Jackson. Compared to the same period in 2019,
Featured Property: #7S3QJR
NUMBER OF UNITS SOLD
*excludes fractional units
Q3 YTD 2019 VS. 2020
the median price increased 25% from last year at $625,000 (for a 4-bedroom, 1,632 sq.ft. townhome
Q3 YTD 2019
in East Jackson) to $780,000 (for a 2-bedroom,
Q3 YTD 2020
1,413 sq.ft. townhome also in East Jackson).
106
The average sale price in this market segment ballooned almost 50% to $1.15M in the last 12 months due to high-end sales in Shooting Star,
74
Granite Ridge and One Town Hill at the base of Snow King (and where values from sales this summer
AT A GLANCE
CURRENT AREA STATS
approached $1,400/sq.ft.) Number of Condominiums Sold Q3 YTD 2020
Average Condominiums Sale Price
27 13
120
$1,147,107
% Change in Average Sales Price from Q3 2019
Average Days on Market
+46.6%
140
15
TETON VILLAGE
14
WEST OF SNAKE RIVER
9
6
12
NORTH OF TOWN
TOWN OF JACKSON
7
SOUTH OF TOWN
SINGLE FAMILY HOMES
Featured Property: #XCM42E
NUMBER OF UNITS SOLD
226 home sales generated sales volume of more than $800M for the first nine months of this year.
Q3 YTD 2019 VS. 2020
46 properties listed at $5M or more have sold so far this year, accounting for more than $420M in
Q3 YTD 2019
sold volume (and with an average price of $9.1M),
Q3 YTD 2020
compared to only 21 sales for the same period in 2019 (an increase of 119 percent). While the upper-end of the home market helps to push the average sale price to more than $3.5M, the median price also jumped 38.5 percent from $1.75M
62
60
Ranch) to $2.425M this year (for a 4-bedroom, 4,100
50 40
38
in 2019 (for a 3-bedroom, 3,050 sq.ft. home in Melody
43
46
sq.ft. home in Wilson).
226
$3,593,227
% Change in Average Sales Price from Q3 2019
Average Days on Market
+37.1%
197
28
11 5 TETON VILLAGE
WEST OF SNAKE RIVER
NORTH OF TOWN
TOWN OF JACKSON
SOUTH OF TOWN
AT A GLANCE
Average Single Family Home Sale Price
CURRENT AREA STATS
Number of Single Family Homes Sold Q3 YTD 2020
MAIN OFFICE
FOUR SEASONS RESORT
TETON MOUNTAIN LODGE
185 WEST BROADWAY JACKSON, WYOMING 83001
7680 GRANITE LOOP ROAD TETON VILLAGE, WYOMING 83025
3385 WEST CODY LANE TETON VILLAGE, WYOMING 83025
EAST BROADWAY
SNAKE RIVER LODGE & SPA
TETON PINES RESORT
110 EAST BROADWAY JACKSON, WYOMING 83001
7710 GRANITE LOOP ROAD TETON VILLAGE, WYOMING 83025
3415 NORTH PINES WAY WILSON, WYOMING 83014
HOTEL TERRA
VILLAGE MARKET
JACKSON HOLE RACQUET CLUB
3335 WEST VILLAGE DRIVE TETON VILLAGE, WYOMING 83025
3200 MCCOLLISTER DRIVE TETON VILLAGE, WYOMING 83025
DRIGGS SOUTH ONE SOUTH MAIN STREET DRIGGS, IDAHO 83422
3535 NORTH MOOSE-WILSON ROAD WILSON, WYOMING 83014
DRIGGS NORTH JHSIR.COM
10 NORTH MAIN STREET DRIGGS, IDAHO 83422
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 for areas one through ten, 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.