Teton Village real estate 2022

While on the one hand the Teton Village real estate market is flying high, it may seem inaccessible to buyers from a distance as publicly listed properties at the base of Jackson Hole Mountain Resort are virtually nonexistent.

After a multi-day snowstorm created ideal skiing conditions during the first week of January, the flakes have been few and far between for the last month. And as of this writing, the foreseeable forecast is for more blue skies and cold mornings.

The Teton Village real estate market is in many ways much the same, with eager buyers scanning the horizon for signs of new properties coming to market. They will also have to wait, it appears, until the current high-pressure conditions subside for the next flurry of activity.

Active listings

As of February 7, 2022, there are just five active full-ownership listings in Teton Village at the base of Jackson Hole Mountain Resort, according to Teton County Multiple Listing Service.

Highlights, so to speak, include:

  • A 2-bed, 925-square-foot condo in the Nez Perce building built in 1980 listed by Jackson Hole Sotheby’s for $1.995 million. This is a ground-floor unit that was nicely updated in 2021, but has been on market for 76 days as potential buyers consider crossing the $2,000 per square foot threshold for an “Old Village” condo.
  • A 3-bed, 1,687-square-foot Eagle’s Rest townhouse listed by Jackson Hole Sotheby’s for $3.6 million. These Old Village units were built in 1972, but are the rare option here that includes not only a garage, but a 2-car garage. These highly desirable units are rarely publicly listed, and when they are they tend to go fast, but similarly this list price has not been accepted after 30 days on market.
  • There are three single-family homes listed for sale between $6.95 million for a 5-bed, 3,419-square-foot home built in 1980 on .69 acres by Live Water Properties, and a 6-bed, 8,577-square-foot home built in 1990 on a half acre listed by Jackson Hole Sotheby’s for $13.95 million.
  • Not listed are several Teton Village property types including single-family homes in Shooting Star, Granite Ridge and Ellen Creek; condo-tel units in Teton Mountain Lodge, Hotel Terra or Four Seasons Jackson Hole; or Moose Creek Townhomes.
The Hoback Club, located just uphill from the Teton Club and the Aerial Tram dock, will add 28 units to the Teton Village inventory once completed in 2023.

Pending and sold listings

There were 33 reported Teton Village sales in the last 12 months with a listing volume of approximately $155 million. The average list price was $4.539 million with properties closing on average at 97 percent of list price after 183 days on market.

But this is where I remind you that Teton County Multiple Listing Service, which serves as the source for all market information in this article, only captures most of the sales activity in Jackson Hole, with the percentage of unreported sales even higher in Teton Village. Wyoming is one of the few remaining states in which it is not required that property sales data be reported publicly. This can make identifying available properties and their valuation challenging, but hiring a Realtor with their ear to the ground and a history of steady sales in this segment crucial. Hint, hint.

Highlights include:

  • There were four sales in Teton Mountain Lodge with the top sale a 2-bed, 900-square-foot bi-level unit listed by Compass Real Estate for $1.6 million. (The sales price was different, but in Wyoming sales prices are considered private information. I can, however, share them with clients.)
  • Hotel Terra, TML’s sister condo-tel property, reported six sales for a total sales volume of $6.875 million and an average price per square foot of $1,197.
  • The top reported sale in Teton Village was for a Shooting Star home built in 2018 on 1.87 acres with 8 bedrooms and 7,895 square feet listed by Clear Creek Group for $16.55 million.
  • The least-expensive full-ownership property to change hands was a 1-bed, 586-square-foot Snake River Lodge & Spa condo built in 2002 and listed by Jackson Hole Sotheby’s for $549,000.
  • A rarely listed Four Seasons Jackson Hole furnished private residence with 2 beds, 1,720-square-foot condo sold after 415 days on market, listed by Jackson Hole Sotheby’s for $4.5 million.
  • Also rarely listed are Tram Tower Townhouses, which include 4 beds and a 2-car garage, but one listed by Contour Investments for $5.3 million sold in August.
Jackson Hole as seen through tree branches off Apres Vous Mountain at Jackson Hole Mountain Resort.

Forecast

As for the skiing conditions, as well as the hope for new property listings, there is always a powder day in the future for those who keep their motivation high and their gear ready for when the moment is right. And even if the reports are discouraging, there is always some soft snow to be found off piste if you are willing to work for it, just like your piece of Teton Village real estate.

Contact your trusted Teton Village Realtor today!

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