In the 2023 year-end Luxury Report, we discussed how the single-family luxury home market in Jackson Hole changed over the two years following COVID. With the lack of available home inventory and the demand to live in Jackson Hole skyrocketing after the height of the pandemic, values rose exponentially. Some areas experienced as much as a 100% increase in value. So, at the end of last year we had to raise the Luxury Market price point to $10+ million.

After adjusting the price point, we set out to determine which homes in the valley qualified and which did not. After months of analysis, we determined there are currently 515 single-family homes worth at least $10 million. Of those, 229 (44%) were located on the Westbank. Some subdivisions on the Westbank have several homes that qualify, but a large majority are in Teton Village and Shooting Star Ranch.

While we did not raise the price point on residential vacant land and condo/ townhomes at the end of 2023 above $5 million, we have seen a dramatic increase in properties that qualify. Today, there are 314 vacant residential lots and 170 condo/townhomes that meet this new standard. When you combine the lots and condo/townhomes with the single-family homes, there are a total of 999 properties considered Luxury in today’s market. Of the 999, 54% are located on the Westbank, with half of those located in Teton Village and Shooting Star.