Q1 2015 The NeVille Group Luxury Report of Jackson Hole

Q U A R T E R 1 2 0 1 5

t h e n e v i l l e g r o u pluxury report of jackson hole

A P R E S E N TAT I O N O F T H E R E A L E S TAT E M A R K E TJ A C K S O N H O L E , W YO M I N G

270 West Pearl AveSuite 101Jackson, WY 83001

307.734.9949 (o)307.690.3209 (c)

[email protected]

WWW.THENEVILLEGROUP.COM

Most data in the following graphs is pulled from the local MLS to more specifically show the most accurate recorded data available to make the information more applicable to the market in your neighborhood. We do include information on sales outside of the MLS

when verifiable, and use total numbers sold, % of sales closed in MLS etc.

Dear Friends of The NeVille Group,

We are pleased to present to you this Q1 2015 statistical presentation of the real estate market in Jackson Hole, Teton County, Wyoming.

For over 15 years, The NeVille Group has provided statistical information and formal presentations exclusively to our clients and a few local banking and mortgage companies. Now, we share this data with our community. This report compares Q1 of 2014 to Q1 of 2015.

Enclosed you will find segmented data on seven markets within Teton County and a summary of all sub-markets combined: Teton Village, North of Wilson, South of Wilson, Central Valley, Northern Valley, Town of Jackson and South of Jackson.

Overall, Teton County experienced growth in pending sales of 14%, growth in units sold of nearly 7%, active listings on the market down 9%, yet NEW listings Q1 2014 vs Q1 2015 up 23%. This shows more inventory coming on in 2015 than Q1 2014, and represents inventory is not keeping up with demand in most market segments. Sale prices in Q1 2015 ranged from $242,500 to $10,250,000 and total dollar volume the first quarter 2015 increased over 40%.

celebrate with usMay 14th, 5-7pm at 80 W. Broadway, Downtown Jackson

Jackson Hole Real Estate Associates was recently named “2014 Global Affiliate of the Year” by Christie’s International Real Estate. This is an amazing achievement as we were also named “2011 Global Affiliate of the Year.” These honors come out a field of 1,350 affiliate companies in 46 countries globally.

The NeVille Group is honored to be the most globally connected team and a part of the largest brokerage firm in the area, Jackson Hole Real Estate Associates. Our reach and overall portfolio collection is unsurpassed.

We welcome the opportunity to personally discuss the current market conditions, and what these may mean to your

present or future real estate decisions in Teton County. We look forward to hearing from you!

Sincerely,

David A. NeVille Shawn M. Asbell Associate Broker Sales Associate

307.734.9949 • 307.690.3209

www.thenevillegroup.com

270 West Pearl Ave, Jackson, WY 83001

Christie’s International Real Estate

GLOBAL AFFILIATE OF THE YEAR 2014 | 2011

SINGLE FAMILY HOMES 2014 Q1 2015 Q1 % 2014 TOTALS 2015 Q1 Highlights

Active 8 6 -25% 5 Low Sale Granite Ridge | $2,900,000

Pending 1 2 100% Med Sale N/A

Units Sold 2 2 0% 5 High Sale Shooting Star | $10,250,000

Average Sold Price $8,725,000 $6,575,000 -24.64% $5,840,000 2014-15 Top Sale(s)

Median Sold Price $8,027,000 $6,575,000 -18.09% $4,554,000 Shooting Star | $10,250,000 Ellen Creek | Undisclosed / Listed at $12,500,000New Listings 1 1 0% 4

MULTI FAMILY HOMES 2014 Q1 2015 Q1 % 2014 TOTALS 2015 Q1 Highlights

Active 51 60 17.65% 43 Low Sale Snake River Lodge | $252,500

Pending 10 20 100% Med Sale Hotel Terra | $1,275,000

Units Sold 7 15 114.29% 26 High Sale Four Seasons | $3,950,000

Average Sold Price $1,721,600 $2,092,896 21.57% $1,631,533 2014-15 Top Sale(s)

Median Sold Price $1,430,000 $1,275,000 -10.84% $788,000 Four Seasons | $4,450,000

New Listings 16 17 6.25% 52

BUILDING SITES 2014 Q1 2015 Q1 % 2014 TOTALS 2015 Q1 Highlights

Active 21 19 -9.52% 12 Low Sale N/A

Pending 3 4 33.33% Med Sale Shooting Star Lot | $3,200,000

Units Sold 3 1 -66.67% 6 High Sale N/A


Median Sold Price $2,950,000 $3,200,000 8.47% $2,850,000 Shooting Star | $3,495,000

New Listings 2 7 250% 7

** Sales price was “UNDISCLOSED” 92% of list price was used.

* The statistics used in this report are from the Teton Multi Listing Service (MLS), The NeVille Group database, and JHREA’s internal database.

* All statistics are supplied by sources that have been deemed reliable but are not guaranteed.

t e t o n v i l l a g e

thenevillegroup.com307.734.9949

Teton Village sales have been strong, but the star of the show is the incredible Shooting Star. The 12

Lodges at Fish Creek will begin closing soon and will most likely be closed by the end of the year. There

are an additional 4 Lodges that have what appear to be solid contracts, and Shooting Star reports that the

additional 12 Shooting Star cabins all have reservations for sale. Resales are also doing well closing several

cabins and lots over the past year. Thankfully, our clients and The NeVille Group have been a part of that

success. Please let us know if we can help you.

Largest Teton Village Single Family Sale in Quarter 1, 2015$ 1 0 , 2 5 0 , 0 0 0 AT S H O O T I N G S TA R

t e t o n v i l l a g e


Combined Active Listings Single Family, Multi Family and Building Sites

D O W N 2 3 % N O R T H O F W I L S O N


Active 45 37 -17.78% 33 Low Sale Wilson Home | $675,000

Pending 8 12 50% Med Sale John Dodge Home | $1,600,000

Units Sold 3 5 66.67% 36 High Sale Teton Pines Home | $7,750,000


Median Sold Price $980,000 $1,775,000 81.12% $1,850,000 Teton Pines | $7,750,000



Active 19 15 -21.05% 10 Low Sale Cedars Building | $343,750

Pending 8 8 0% Med Sale Bearberry Building | $379,000

Units Sold 8 6 -25% 33 High Sale Garden Home Teton Pines | $1,075,000

Average Sold Price $410,150 $738,025 79.94% $725,316 2014-15 Top Sale(s)

Median Sold Price $375,000 $405,750 8.2% $500,000 Teton Pines Garden Home | $1,450,000

New Listings 8 4 -50% 34


Active 16 11 -31.25% 10 Low Sale H-H-R Ranches | $1,075,000

Pending 5 2 -60% Med Sale N/A

Units Sold 4 2 -50% 12 High Sale Stilson Ranch | $1,175,000


Median Sold Price $860,000 $1,125,000 30.81% $1,002,500 Lake Creek Ranch | $4,485,000

New Listings 3 1 -66.67% 14



n o r t h o f w i l s o nEXCLUDING TETON VILLAGE

s o u t h o f w i l s o n


Active Single Family HomesD O W N 4 3 % S O U T H O F W I L S O N


Active 30 17 -43.33% 17 Low Sale Highland Park Home | $970,000

Pending 5 5 0% Med Sale Rivermeadows Home | $1,287,000

Units Sold 5 4 -20% 20 High Sale Green Circle Home | $2,605,000

Average Sold Price $969,500 $1,446,750 49.23% $2,092,588 2014-15 Top Sale(s)

Median Sold Price $800,000 $1,128,500 41.06% $1,221,000 Coburn Creek Road | $10,125,000

New Listings 3 2 -33.33% 26


Active 1 0 -100% 0 Low Sale N/A


Units Sold 0 0 0% 1 High Sale N/A

Average Sold Price 0 0 0% $0 2014-15 Top Sale(s)

Median Sold Price 0 0 0% $0 Rivermeadows | $740,000

New Listings 0 0 0% $0


Active 29 24 -17.24% 21 Low Sale Rivers Meadows | $750,000

Pending 4 4 0% Med Sale Crescent H | $950,000

Units Sold 3 3 0% 12 High Sale Crescent H Tract 5 | $5,000,000


Median Sold Price $250,000 $950,000 280% $322,500 Crescent H Ranch Tract 5 | $5,000,000




n o r t h o f w i l s o nEXCLUDING TETON VILLAGE

s o u t h o f w i l s o n


CHRISTIE’S ART & ARCHITECTURE

CHRISTIE’S INTERNATIONALREAL ESTATE

CHRISTIE’S EDUCATION

CHRISTIE’S TRAVEL

Established in London more than 240 years ago by James Christie, the

auction house today is a renowned international organization that conducts

some of the most important auctions in the world. The Christie’s brand

exudes quality and prestige, while honoring the traditional values established

throughout its illustrious history. An inventive lead-generation system

between Christie’s and Christie’s International Real Estate creates a mutually

beneficial synergy between art and real estate, building a world-class

platform for the highly targeted marketing of distinguished properties.

CHRISTIES.COM

Christie’s Education is unique in being wholly owned by Christie’s Auction

House, signaling the importance Christie’s places on practical experience

of art through education as the key to professional success. As the only

major auction house to directly offer degree and non-degree programmes,

Christie’s Education continue to follow the principles of hands-on exposure

to art, immersing our students in the art world from the beginning of their

studies.

CHRISTIES.EDU

Supported by the esteemed art auction house, Christie’s International Real

Estate is a global network offering exclusive home and luxury real estate

services to buyers and sellers worldwide. The Christie’s brand is instantly

recognizable to clients and distinguishes your property from others. We

focus exclusively on luxury residential real estate and understand how to

reach and serve discerning clientele. Along with this expertise, we offer you

the tailored, trusted service that our clients have depended on for 250 years,

collaboration with our auction house colleagues, and referrals from our

network of the world’s top brokers.

CHRISTIESREALESTATE.COM

Christie’s Travel in association with Abercrombie & Kent, is dedicated to

connecting clients with the most important milestone events, masterpiece

works and collections, as well as undiscovered artists and trends that

comprise the multi-national world of Art today. This unique travel program

is made possible through the powerful combination of Christie’s 250 years’

experience in the art market, and offices in 32 countries with leading experts

in over 60 Art departments.

CHRISTIES.COM/TRAVEL


is an invitation-only affiliate

network comprised of the world’s

most proven and qualified real

estate specialists in the luxury

residential sector, and is the only

international luxury real estate

network wholly-owned by an

international art auction house.

By cultivating a unique balance

of worldwide scope and highly

personalized service, Christie’s

International Real Estate has

become a global authority on the

effective marketing of distinctive

properties. A finely tuned suite of

programs, and a commitment to

the business philosophy established

by Christie’s in 1766, defines a

brand based on trust, integrity,

discretion, and excellence.

The Affiliate Network spans the

globe with 139 brokerages in 46

countries, operating out of 1,350

offices with more than 32,000

associate brokers.

Each affiliated brokerage is

required to meet a set of scrupulous

standards before being invited

to join the Network. To qualify,

brokerages must demonstrate an

established track record in the

marketing and sale of distinctive

properties, as well as a sterling

reputation for excellence in

customer service.

US $95 Billion

1,350

57 Million

32,000

US $70 Billion

760

11 Million

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Lot sales areU P 1 3 3 % W I T H N O M O R E N E W I N V E N T O R Y A N T I C I PAT E D


Active 23 19 -17.39% 16 Low Sale Bar Y | $975,000


Units Sold 2 2 0% 11 High Sale Gros Ventre North | $5,200,000


Median Sold Price $1,447,500 $3,087,500 113.30% $1,835,400 Indian Springs Ranch | $6,600,000

New Listings 3 5 66.67% 21



Pending 2 1 -50% Med Sale N/A

Units Sold 4 1 -75% 12 High Sale Spring Creek Ranch | $1,633,000**

Average Sold Price $536,000 $1,633,000 204.66% $504,916 2014-15 Top Sale(s)

Median Sold Price $532,000 $1,633,000 206.95% $510,000 Spring Creek Ranch | $1,633,000**



Active 44 41 -6.82% 27 Low Sale Saddle Butte Lot 18 | $431,000

Pending 2 5 150% Med Sale Indian Springs Ranch Lot 25 | $3,500,000

Units Sold 3 7 133% 14 High Sale Bar BC Ranch 22 | $8,740,000**


Median Sold Price $1,426,000 $1,750,000 22.72% $1,265,000 Ranch 3 Bar BC $9,154,000**




c e n t r a l va l l e ySNAKE RIVER TO THE ELK REFUGE & HWY 22 NORTH TO SAGEBRUSH

n o r t h e r n va l l e ySAGEBRUSH TO MORAN & SNAKE RIVER TO KELLY


Average sale price first quarter 2014 vs first quarter 2015R O S E F R O M $ 3 4 9 K T O $ 1 , 0 1 0 , 0 0 0 I N T H E N O R T H E R N VA L L E Y


Active 25 26 4% 9 Low Sale Kelly | $650,000

Pending 2 4 100% Med Sale Snake River Woods | $1,175,000

Units Sold 2 5 150% 13 High Sale H-C | $2,800,000


Median Sold Price $2,900,000 $1,175,000 -59.48% $1,200,000 Teton Cascade | $4,600,000



There are rarely any Multi Family units sold in this area.


Active 23 20 -13.04% 19 Low Sale Bar B Bar | $823,400


Units Sold 1 2 100% 12 High Sale Bar B Bar | $1,125,000


Median Sold Price $349,000 $974,200 179.14% $725,000 Solitude | $4,600,000




c e n t r a l va l l e ySNAKE RIVER TO THE ELK REFUGE & HWY 22 NORTH TO SAGEBRUSH

n o r t h e r n va l l e ySAGEBRUSH TO MORAN & SNAKE RIVER TO KELLY


Single-family inventoryD OWN TO 8 MONTHS OF INVENTORY IN THE TOWN OF JACKSON


Active 24 33 37.50% 21 Low Sale Cottonwood Park | $640,000

Pending 8 9 12.50% Med Sale Westgate | $740,000

Units Sold 7 6 -14-29% 45 High Sale Gill Addition | $1,300,000


Median Sold Price $852,000 $761,000 -10.68% $808,680 Saddle Butte | $4,300,000



Active 57 48 -15.79% 18 Low Sale Brookside | $285,000

Pending 25 20 -20% Med Sale Elk Run | $580,000

Units Sold 14 13 -7.14% 54 High Sale Clarks Knoll | $645,000

Average Sold Price $564,064 $446,452 -20.85% $616,245 2014-15 Top Sale(s)

Median Sold Price $450,000 $462,500 2.78% $415,000 810 West | $970,000

New Listings 23 32 39.13% 102


Active 17 11 -35.29% 10 Low Sale Karns Hillside | $387,000

Pending 2 3 50% Med Sale Indian Trails | $550,000

Units Sold 1 4 300% 8 High Sale Corner of King & Gill $2,600,000

Average Sold Price $350,000 $990,500 183% $495,875 2014-15 Top Sale(s)

Median Sold Price $350,000 $487,500 39.29% $403,500 Corner of King & Gill | $2,600,000




t o w n o f j a c k s o n s o u t h o f j a c k s o n


Single family inventory is A P P R OX I M AT E LY 8 M O N T H S

Single family average sold price I N C R E A S E D 6 8 %


Active 43 49 13.95% 32 Low Sale South Park | $600,000

Pending 12 12 0% Med Sale Melody Creek Lane | $1,038,000

Units Sold 12 5 -58.33% 59 High Sale Dairy | $7,250,000


Median Sold Price $874,000 $893,710 2.26% $874,500 Bryan Flat | $7,820,000**

New Listings 11 19 72.73% 75




Units Sold 1 1 0% 7 High Sale Northeast 40 | $429,000


Median Sold Price $178,500 $429,000 140.34% $396,000Walden Pond | $565,000



Active 67 71 5.97% 59 Low Sale Rogers Point | $242,500

Pending 11 9 -18.18% Med Sale Falcon Springs | $370,000

Units Sold 5 7 40% 32 High Sale South Park Service Center $1,050,000

Average Sold Price $701,800 $502,736 -28.36% $1,018,817 2014-15 Top Sale(s)

Median Sold Price $256,680 $370,000 44.15% $347,500 Boyles Hill Road | $9,154,000**




t o w n o f j a c k s o n s o u t h o f j a c k s o n


Jackson Hole, Wyoming is a vibrant, mountain community - home to the stunning Grand Teton Mountain range,

Grand Teton & Yellowstone National Parks, and the Bridger Teton National Forest. Designated as one of the most

fit and philanthropic regions in the nation, Jackson Hole residents enjoy healthy lifestyles and are deeply engaged in

their community. Wyoming is the most “tax-friendly” state in the United States - providing Jackson Hole with an

incredible community of people, food, the arts, outdoors and wildlife, making Teton County one of the most sought-

after lifestyle locations in the world.

ALL PROPERTIES 2014 Q1 2015 Q1 % 2014 TOTALS

Active 571 520 -8.93% 390

Pending 113 129 14.16%

Units Sold 88 94 6.82% 455

Average Sold Price $1,090,015 $1,560,699 43.18% $1,192,359

Median Sold Price $625,000 $830,000 32.80% $765,000

New Listings 115 142 23.48% 652

all of teton county

why jackson hole?

83% SOLD properties reported through MLS Q1 2014

74% SOLD properties reported through MLS Q1 2015


Average single family home sold price Q1, 2015$ 2 , 0 9 8 , 8 8 8


Active 198 187 -5.56% 146 Low Sale Cottonwood Park | $640,000

Pending 39 47 20.51% Med Sale Gill Addition | $1,300,000

Units Sold 33 32 -3.03% 189 High Sale Shooting Star | $10,250,000


Median Sold Price $937,500 $1,231,000 31.31% $1,125,000 Shooting Star | $10,250,000 Ellen Creek | Undisclosed / Listed for $12,500,000New Listings 42 54 28.57% 281


Active 156 136 -12.82% 77 Low Sale Brookside | $285,000

Pending 47 53 12.77% Med Sale Elk Run | $580,000

Units Sold 35 36 2.86% 170 High Sale Four Seasons | $3,950,000

Average Sold Price $673,324 $867,182 28.79% 2014-15 Top Sale(s)

Median Sold Price $525,000 $605,000 15.23% $462,000 Four Seasons | $4,450,000

New Listings 53 57 7.55% 206


Active 217 197 -9.22% 167 Low Sale Rogers Point | $242,500

Pending 27 29 7.41% Med Sale Snake River Sporting Club | $800,000

Units Sold 20 26 30% 96 High Sale Bar BC Ranch 22 | $8,740,000**


Median Sold Price $487,500 $816,700 67.53% $777,500 Ranch 3 Bar BC | $9,154,000**


all of teton county

** Sales price was “UNDISCLOSED” 92% of list price was used.



22

15

25

6

5 6

22

3 3

$0 - $2M

$0 - $1M

$0 - $1M

$2M - $5M

$1M - $2M $2M+

$8M+$5M-$8M

$2M-$5M $5M+

SINGLE FAMILY HOMESSOLD QUARTER 1 2015

BUILDING SITESSOLD QUARTER 1 2015

MULTI FAMILY HOMESSOLD QUARTER 1 2015

5

$1M - $2M


The NeVille Group – Named Top Producing Sales Team of Jackson Hole Real Estate Associates, and Exclusive Affiliate

of Christie’s International Real Estate, The NeVille Group is compromised of successful, dedicated and experienced

professionals, backed by years of luxury sales success, global connections, and the largest real estate brokerage in the

region. The NeVille Group understands the Jackson Hole market, is globally connected, and locally respected.

Jackson Hole Real Estate Associates - The region’s largest and most progressing real estate brokerage in Jackson Hole

and the area. The collection of properties, and expertise is unsurpassed and we represent some of the most unique and

sought-after real estate in the world.

Christie’s International Real Estate - A global network of top brokerages dedicated to the marketing and sale of luxury

residential properties. Our access covers a worldwide audience of more than 1,350 real estate offices in 46 countries and

transactions resulting in over $125 billion in sales annually.

DAVID A. NEVILLEAssociate Broker(307) 690-3209 (307) 734-9963

[email protected]

SHAWN M. ASBELLSales Associate (307) 413-6231

(307) [email protected]

270 West Pearl Ave, Suite 101Jackson, WY 83001

WWW.THENEVILLEGROUP.COM

Documents

Q1 2015 The NeVille Group Luxury Report of Jackson Hole