MARKET REPORT TETON COUNTY, WYOMING QUARTER 1
2021
TETON COUNTY, WYOMING — Q1 2021 SALES VOLUME VS. UNITS SOLD 2004-2020
SALES VOLUME
SALES VOLUME
UNITS SOLD
UNITS SOLD
$1.800B
700
$1.600B
600
$1.400B 500
$1.200B
400
$1.00B $800M
300
$600M 200 $400M 100
$200M
2004
2005
2006
2007
2008
2009
2010
2011
2013
2014
2015
2016
2017
2018
2019
2020
2020 was unprecedented on so many levels, but nearly a year
In looking at the activity of the last 12 months, Teton
after phrases like “social distancing” and “sheltering in place”
County managed to build on its record-setting 2020 year-
became part of our vernacular, the Jackson Hole real estate
end numbers. For the last 12 months, the dollar volume for
market is nearly unrecognizable from its pre-COVID days.
the Jackson Hole real estate market has surged to nearly
Coming off a banner year, Teton County continued its
$2.1B (and up from $1.88B at the 2020 year-end).
upward trajectory in Q1 2021. Despite a very weighted
As the snow melts and the valley heads toward what
“seller’s market” and a dearth of properties listed for sale,
appears to be another very frenetic summer season, we’re
Jackson Hole managed to post 137 closings in the first
grateful—now more than ever—for Jackson Hole’s scenic
three months of 2021 (a 41% increase over Q1 2020) and
vistas, conservation-minded community and year-round
a complementing dollar volume of nearly $400M (a 84%
recreational outlets that made northwestern Wyoming such
increase over the same period last year).
a wonderful place to call “home.”
SALES VOLUME BY AREA
SALES VOLUME BY PRICE CATEGORY
Q1 2020 VS. 2021
Q1 2020 VS. 2021
Q1 YTD 2020
UNITS SOLD
Q1 YTD 2021
Q1 YTD 2020
$120M
UNITS SOLD
Q1 YTD 2021
$240M
57
34
$100M Cover Properties: #XJ99QZ, 3JK8MS
2012
$200M
$80M
18
$160M 20
10
$60M 13
20
$120M
16 16
41
32
$40M
16
$20M
23
$40M
27 26
TETON VILLAGE
WEST OF SNAKE RIVER
NORTH OF TOWN
TOWN OF JACKSON
SOUTH OF TOWN
22
11
$80M 33
10
23
< $850K
$850K-$1.5M
$1.5M-$3M
$3M-5M
>$5M
LAND & RANCHES
Featured Property: #ZSVCEV
SALES VOLUME BY AREA
Under all is the land. The statistic that
Q1 2020 VS. 2021
more than 97% of the land in Jackson Hole
2020
2021
UNITS SOLD
is protected as national park, national forest or some other conservation holding
$35M
is one of the pillars of Jackson Hole
$30M
real estate story. Despite the dwindling
14 5
$25M
number of vacant parcels left in the valley, the Teton County real estate market
$20M $15M
4
$10M
2
managed to post 31 vacant land sales in
8 6
2
$5M
AT A GLANCE
CURRENT AREA STATS
WEST OF SNAKE RIVER
Number of Land & Ranch Sites Sold Q1 2021
31
NORTH OF TOWN
Q1 2021 (up 72.2% from the first three months of 2020). While these sales vary
2
TETON VILLAGE
4 2
TOWN OF JACKSON
SOUTH OF TOWN
in property size and location, the average land sale rose to $2.37M (up from $1.8M for the same period last year).
% Change in Average Sales Price from Q1 2020
2021 Average Land & Ranch Sites Sale Price
Average Days on Market
+31%
$2,374,134
384
CONDOMINIUMS/TOWNHOUSES Of the different regions in the Jackson Hole real estate market, the town of
SALES VOLUME BY AREA
and condo and townhome sales helped to stoke the flames of the Town of
2020
transactions in the Town of Jackson
$35M
involved a condo or townhome. And
$30M
while the gamut runs from $500,000
$25M
townhome located at The Glenwood
$20M
30
7
$15M
(just off the Town Square), strong
$10M
activity in this market segment pushed
$5M
AT A GLANCE
CURRENT AREA STATS
$1.34M in Q1 2021.
2
TETON VILLAGE
41
16
4
the average condo/townhome price to
Number of Condominioms Sold Q1 2021
UNITS SOLD
$45M $40M
Jackson to nearly $5M for a luxury
2021
$50M
Jackson market. More than half of all
for a smaller 1-bedroom condo in east
*excludes fractional units
Q1 2020 VS. 2021
Jackson has seen the most activity in recent years. Q1 2021 was no exception,
Featured Property: #5V57Y4
3
WEST OF SNAKE RIVER
3
2
1
NORTH OF TOWN
TOWN OF JACKSON
3
SOUTH OF TOWN
% Change in Average Sales Price from Q1 2020
2021 Average Condominioms Sale Price
Average Days on Market
+9.8%
$1,342,117
95
SINGLE FAMILY HOMES
Featured Property: #KLRMFB
SALES VOLUME BY AREA
While
Q1 2020 VS. 2021
always be in high-demand in Jackson
2020
2021
ski-in/ski-out
condos
will
Hole, individual home sales are
UNITS SOLD
$100M
currently driving Teton County’s real
$90M
estate market. Fifty-seven homes 19
$80M
sold in Q1 2021, representing a 24% increase in transactions over
$70M
12
$60M $50M
4
inventory in the valley remains at an 14
$40M
8
4
all-time low, and was a contributing
14
5
$30M
the same period last year. Housing
11
12
$20M
factor that drove the average home price to $4.1M (a 32% increase from the average home price of $3.1M in
$10M
Q1 2020).
AT A GLANCE
CURRENT AREA STATS
TETON VILLAGE
WEST OF SNAKE RIVER
Number of Single Family Homes Sold Q1 2021
57
NORTH OF TOWN
TOWN OF JACKSON
SOUTH OF TOWN
% Change in Average Sales Price from Q1 2020
2021 Average Single Family Home Sale Price
Average Days on Market
+32%
$4,183,576
172
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.