MARKET REPORT TETON COUNTY, WYOMING YEAR END
2020
TETON COUNTY, WYOMING — 2020 SALES VOLUME VS. UNITS SOLD YEAR TO DATE DEC. 2004-2020
SALES VOLUME
SALES VOLUME
UNITS SOLD
UNITS SOLD
$1.800B
700
$1.600B 600 $1.400B 500
$1.200B $1.00B
400
$800M
300
$600M 200 $400M 100
$200M
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
With the chaos of 2020 behind us, it’s difficult to recall with
Some noteworthy nuances:
perfect clarity all the twists and turns of the last 12 months.
• Q4 2020 dollar volume ($722.8M) was in range of the entire
The gross numbers speak volumes, with the single biggest
2019 dollar volume ($927.8M);
bellwether being dollar volume doubled in 2020 to nearly $2
• 2020 dollar volume for properties more than $5M ($873.5M)
billion.
also nearly exceeded the entire 2019 volume; and
What’s not immediately clear from the stats is the
• In the entire month of May, Jackson Hole closed only 19
roller coaster ride the Jackson Hole real estate market
sales for a total of $54M. By September, the monthly total had
experienced in 2020. While Teton County posted $1.89B
ballooned to more than 100 sales and a total volume of almost
in sales on 678 transactions, this leveling-up of our
$300M. That surge carried forward into Q4 as well resulting in
regional market occurred mostly in the final six months
the biggest year the Jackson Hole real estate market has
of the year.
ever seen.
SALES VOLUME BY AREA
SALES VOLUME BY PRICE CATEGORY
2019 VS. 2020
2019 VS. 2020
2019
2019
UNITS SOLD
2020
2020
UNITS SOLD
159
$600M $500M
$750M
145
$400M Cover Properties: #RBFN7H, WRYDPK
94
$900M
$600M 194
$300M 54
93
$200M
126 84
$450M $300M
$100M
$150M
WEST OF SNAKE RIVER
NORTH OF TOWN
TOWN OF JACKSON
SOUTH OF TOWN
35
129
84
49
TETON VILLAGE
104 163
209
181 138
< $850K
130
179
$850K-$1.5M
44
$1.5M-$3M
$3M-5M
>$5M
LAND & RANCHES
Featured Property: #T7EGZK
NUMBER OF UNITS SOLD 2019 VS. 2020
2019
Inventory has historically been an issue in the
2020
Jackson Hole real estate market. This was
64
acutely true in 2020, especially when it came to vacant land. Despite the physical constraints in a market where more than 98% of the land is permanently protected, land sales nearly doubled in 2020 with 125 sales (and where 55 of those sales occurred in Q4).
32
23
2020 Average Land & Ranch Sites Sale Price
125
$2,461,432
% Change in Average Sales Price from 2019
Average Days on Market
+30.9%
307
17 13
12
7
5 1
TETON VILLAGE
WEST OF SNAKE RIVER
NORTH OF TOWN
TOWN OF JACKSON
SOUTH OF TOWN
AT A GLANCE
Number of Land & Ranch Sites Sold Year End 2020
CURRENT AREA STATS
20
CONDOMINIUMS/TOWNHOUSES Four out of five sales in Teton County involve a residential property. Due to a lack of inventory,
Featured Property: #3Q9EVN
SALES VOLUME BY AREA
*excludes fractional units
2019 VS. 2020
condo and townhome sales in Jackson Hole
2019
actually fell in 2020 (posting only 194 sales in 2020
2020
UNITS SOLD
110
compared to 208 sales in 2019). The high demand in a sellerâ&#x20AC;&#x2122;s market resulted in a spike in condo/
$100M
townhome pricing. In 2019, the average sale price in this segment of the market was $821,950; for 2020, the average condo/townhome price had
$80M
increased 46.6% to $1,204,790.
$70M
AT A GLANCE
CURRENT AREA STATS
$60M Number of Condominiums Sold Year End 2020
2020 Average Condominiums Sale Price
12
128
$90M
29
41
$50M
7
$40M
194
$1,204,790
29
$30M
21
$20M % Change in Average Sales Price from 2019
+46.6%
Average Days on Market
143
14 11
$10M
TETON VILLAGE
WEST OF SNAKE RIVER
NORTH OF TOWN
TOWN OF JACKSON
SOUTH OF TOWN
SINGLE FAMILY HOMES SALES VOLUME BY AREA
Featured Property: #BW7H58
*excludes fractional units
2019 VS. 2020
2019
2020
Home sales—especially at higher price points—
UNITS SOLD
defined the Jackson Hole market in 2020. 344 sales (up from 223 sales in 2019) accounted for more than $1.26B in sales volume, for an average
$500M
home price of $3.68M. 72 homes listed for $5M
$450M
or more accounted for more than $655M in sales
81
volume; in 2019, only 28 homes sold in excess of
94
$400M
$5M.
$350M $300M
88
$250M
$100M
41
61
62
59 6
$50M
TETON VILLAGE
WEST OF SNAKE RIVER
NORTH OF TOWN
TOWN OF JACKSON
SOUTH OF TOWN
344
$3,676,898
% Change in Average Sales Price from 2019
Average Days on Market
+39.5%
186
AT A GLANCE
20
$150M
2020 Average Single Family Home Sale Price
CURRENT AREA STATS
55
$200M
Number of Single Family Homes Sold Year End 2020
MAIN OFFICE
SNAKE RIVER LODGE & SPA
TETON PINES RESORT
185 WEST BROADWAY JACKSON, WYOMING 83001
7710 GRANITE LOOP ROAD TETON VILLAGE, WYOMING 83025
3415 NORTH PINES WAY WILSON, WYOMING 83014
EAST BROADWAY
TETON MOUNTAIN LODGE
JACKSON HOLE RACQUET CLUB
110 EAST BROADWAY JACKSON, WYOMING 83001
3385 WEST CODY LANE TETON VILLAGE, WYOMING 83025
3535 NORTH MOOSE-WILSON ROAD WILSON, WYOMING 83014
HOTEL TERRA
DRIGGS NORTH
3335 WEST VILLAGE DRIVE TETON VILLAGE, WYOMING 83025
10 NORTH MAIN STREET DRIGGS, IDAHO 83422
FOUR SEASONS RESORT 7680 GRANITE LOOP ROAD TETON VILLAGE, WYOMING 83025
DRIGGS SOUTH JHSIR.COM
ONE SOUTH 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.