Jackson Hole Market Report | 1st Quarter 2019

Jackson Hole Real Estate Market Off to a Strong Start in 2019

Demand Continues to Grow for Luxury Properties, Inventory Declines, Jackson Hole Real Estate Associates’ Market Report Finds

Jackson Hole Real Estate Associates is pleased to present our Market Report for the First Quarter of 2019. Unlike other analyses from the area, our Market Report is derived from our proprietary, forty-year old database (not just MLS data) and draws on our agents’ vast experience, making it the most trusted and accurate real estate report in the region.

 

Below are several highlights from the first quarter. The full report can be read here.

 

If you have questions or want to learn more, please don’t hesitate to contact me directly. (970) 729-0663 cell, (307) 732-7474 (office)

 

Key Findings

  • The total dollar volume of transactions in Q1 2019 increased 39% even though the number of transactions decreased 11%, compared to Q1 2018.
  • Sales above $3M increased 33% compared to Q1 2018.
  • The average and median sale prices increased 79% and 73%, respectively. These figures were pushed up by growth in sales between $2M – $5M, which jumped 71% compared to Q1 2018, and sales above $5M, which grew 83%.
  • Inventory fell 10% in the first quarter of 2019 relative to the same period a year earlier.
  • Single-family homes accounted for 44% of all transactions, followed by condominiums and townhomes, which made up 40% of transactions.

 

 

A Good Guide Season

“I had an amazing opportunity to be guided by Kim to the top of the Grand Teton in early June 2014. I had already climbed the Grand by several routes but this time my desire was to ski down from the summit, which is a significant and serious undertaking. That May I had just returned from a disastrous and disappointing attempt to climb Mt Everest and was dealing with “demons” that made me question my confidence and desire to take on additional mountaineering objectives. I needed a challenge to “re-boot” my adventure psych and skiing the Grand seemed a worthy objective to help cure me of my funk and rid me of the demons.

I went with a lot of trepidation. In the prior year, I had undergone total knee replacement thus making me the first person to attempt skiing the Grand with two artificial knees. At age 61, I might also have been quite old relative to other skiers who have attempted skiing that mountain.

From the moment we met and stepped on the mountain, Kim’s cheerful and ultra-positive demeanor was an instant breath of fresh air and a tremendous motivator. Over the next two day climb and ski descent her hooting and hollering of encouragement to me, not to mention exhibiting her own joy of being in such an amazing place, made me very comfortable and at ease. Her excitement was really contagious. I never felt tired primarily because she kept yelling to me how strong I was so how could I ever let her down? Stepping into my skis on top of the Grand was a little nerve racking as the exposure is tremendous but I knew I was in good hands. My concern turned to an adrenaline fueled sense of joy and adventure as we made our way down the steep slopes of the Ford Couloir and then transitioned to a roped rappel down the Stettner and Chevy Couloirs and then back again on skis to go down the “apron” to our base camp.

Kim felt more like a ski partner friend than a guide, other than the fact that her knowledge and expertise was always in play and on display. I felt like she was having as much fun as I was and not just out doing her job. That makes a huge difference when having a guided experience. I would recommend Kim for any kind of guided adventure in the mountains as she can make some of the inherent drudgery seem like the best part of the journey. Kim’s combination of talent, skill, and caring positive cheerful personality are a rare package in the guiding world.”

– Greg Paul, climber/skier, owner of Momentum Climbing Gyms – Ski Descent of Grand Teton, June 9 2014

In the early hours of June 9 2014, our team of 3 headed up the Teepee Glacier to ski the Grand Teton. The guides were Brian Warren and myself, along with our client, Greg Paul. Greg had recently had a double knee replacement and, as a lifelong climber, he was savvy and strong in the mountains. After our successful mission on the tallest peak in the Tetons, Greg went on to be the first person to climb Mt Everest, the following season, with a double knee replacement.

Our trip up the Grand Teton was an exciting time for me as a guide. Since that day, there have been many moments of witnessing great successes for my clients. And, for me, there have been a lot of highlights from time in the wilderness with great people. My own personal goals, in part, were achieved as well and I looked to the future with promise.

In late 2015, my partner, Pete Linn, and I, decided that we wanted to start a family. In August 2016, our daughter, Charlie Edward Linn, arrived. She is our greatest gift in this life. With a child’s arrival there comes change. I quickly realized that I was not comfortable taking on narrower risk margins while she was still so young.

But, this year, 2019, now that she’s 2.5 years old, I was ready to embark on some new adventures in the mountains again. Exploration, new routes, and high mountain adventures feed my soul. With two weeks guiding in Iceland on the books with Ice Axe Expeditions and 16 incredible women, I was getting prepared to leave my family for short trips as well as enter back into the bigger realm of the Tetons and the Sierra for March and April.

My ski season was moving in that forward direction when I hit a rock/log while guiding in the Jackson Hole Mountain Resort backcountry, bringing it to an abrupt end. Since Charlie’s arrival, and managing careers in both skiing and in real estate, I was really just getting back in the groove. But, when your direction suddenly shifts, all you can do is accept it with grace and positivity, and move forward with the new focus. 

I look forward to working on new projects and new goals in 2019 and aiming high for 2020, spending more time with family, friends, and clients, as well as offering the best of service and the best of adventures for everyone involved. My future posts will share some new opportunities for ski and travel in late 2019 and 2020. I’ll also highlight great adventures available with Teton Outfitters as well as exciting things in the real estate realm. Standby!

Jackson Hole Market Report | 2018 3rd Quarter

Jackson Hole Real Estate Associates, the region’s largest and most dynamic real estate company, is proud to present our comprehensive Market Report for the third quarter of 2018. Assembled from Jackson Hole Real Estate Associates’ proprietary database, the most extensive source of information about the region’s real estate market, and insight from our dedicated team of professionals, the report provides valuable insight into the market segments that make up the Jackson Hole area.

Jackson Hole’s real estate market remains on a strong path through the third quarter, with 12 percent more sales and a 13 percent increase in median sale price compared to the same period last year. Rising prices have caused supply of properties under $500,000 to dwindle, which is apparent in the 21 percent decline in transactions below that price point.

The most sales took place in the $500,000 to $1 million segment, which accounts for more than one-third of sales this year. The $2 million to $5 million segment notched the largest gain in transactions, up 83 percent compared to a year ago.

The Town of Jackson continues to lead the area by far in sales volume. Even so, overall, inventory fell again, down nearly 20 percent, which contributed to a 16 percent decrease in the average property’s days-on-market.

Click here to read the full report.

Jackson Hole Market Report | 2018 Mid-Year

Jackson Hole’s real estate market started very strong in the first half of 2018 with number of transactions up 11% and average sale price up 10%. Even more important to note was the increase in median sale price, a more accurate indicator, up 22% from a year ago. The majority of transactions were in the $500,000 – $1 million price segment, however, there was a sharp increase in transactions over $5 million, up 77%. This sharp increase drove total dollar volume up by 33% compared to a year ago. The single family home segment was the most popular among buyers achieving 41% of the mid-year market share. Inventory continued to decrease as did well-priced new inventory, which was a contributor to the 23% decrease in active listings and 13% decrease in average days on market.

 

Summer Property & Lifestyle Catalog

We are proud to present our current collection of extraordinary real estate. We’ve also highlighted some of our favorite local assets. Around here, limits are imaginary. The only ceilings are the ones we put over our heads. Jackson Hole Real Estate Associates’ team of dedicated professionals is here to help you get acquainted with our incredible destinations. Please do not hesitate to call on any of our real estate professionals as you experience the Teton lifestyle.