1,687
Single-Family Homes

(1,677 + 9 ranch homes)

This represents all deeded “free-market” single-family homes. It includes 9 improved ranches parcels.

1,142
Deeded Townhome/Condos

This represents all deeded “free-market” townhome/condo’s on the Westbank.  It does not include fractional ownership (timeshare).

412
Single-Family Vacant Lots

This represents single-family zoned lots, that cannot be further subdivided.

86
Parcels with No Improvements under Conservation Easements

There are 140 parcels on the Westbank with some kind of conservation easement where most if not all is protected.  Currently the total acres under easement exceeds 7,500 acres, or 36% of the Westbank private property.

112
Commercial Deeds (developed & vacant)

• This includes commercial condos in the hotels at Teton Village and all of Westbank
• Vacant parcels – 5 Teton Village commercial-core and 2 in Wilson

66
Common Lots

(open space, school, public – cannot be developed)

21
Farm & Ranch Deeds
(20 with no homes & 1 dude)

This represents all Farm / Ranch deeds with no improvements. Some have conservation easements.

TOTAL DEEDS: 3,526 approx (Does not include fractional)

Total residential units: 3,488 approx.

1,687 deeded homes
+ 1,142 condo/townhomes
+ 485 vacant single-family lots
+ 174 West bank Managed by TCHA
Affordable ownership units: 90
Attainable units: 18
Rental units: 49
Habitat: 6
Trust: 11
=Total residential units on the Westbank: 3,488

Total Potential Single-Family Homes: 2,535 (additional 51%)

1,687 (existing) + 848 (projected additional homes) Note: this projection does not include: affordable housing units; accessory units (guest house and apartments)

Westbank Existing Residential Units & Projected Future Development
Existing & Platted Vacant Single-Family Parcels
412

• These are the vacant parcels that cannot be further subdivided.
• There are 124 of these lots that have potential of being held for privacy and/or to protect view corridors

Homes on Westbank with less than 1,000 SF
103

These parcels could use the existing homes as guesthouses, and still build a main house.

Potential Development of Large Parcels
333

• 50-acres as minimum under the new Teton County Comprehensive plan, before any subdividing can occur.
• This study does not explore the potential of transferring development credits to or from other parts of the valley.

Total Projected Additional Single-family homes: 848+ approx.
Total Potential Single-family Homes: 1,687 + 848 = 2,535 or an additional 51%

Note: this projection does not include: affordable housing units; accessory units (guest house and apartments).

 

Current Cost of New Construction + Current Property Prices

The average Westbank building permit valuation for a single-family home in 2018 was $2,675,082.   The  “valuation” value is just for construction cost, not the combined worth of the property and house.  In 2018 the average Westbank home sale price was $3,135,306.  NOTE:  For homes built in the last five years the average sale price was $4,719,000 – only 10 sold in 2018.

At years-end the average Westbank home listing price was $5,085,500.  NOTE: For homes built in the past five year there were only four available at years-end, with an average list price of $5,910,000.

Last year the average sale price for a Westbank single-family vacant lot was $2,770,240.  The average size single-family lot sold in 2018 was 5.16 acres.

When you combine the average building permit value for 2018 with the average sale price of a vacant single-family lot in 2018 you will be spending an average of $5,445,322 to build a new home.

The outlook for locals buying into the Westbank condo/townhouse market continues to look bleak.  The average MLS listing price at years-end for all Westbank 3+ bedroom condo/townhouse’s was $3,453,333.  Average 2018 sale price for all Westbank 3+ bedroom condo/townhouse’s was $2,142,302.  NOTE: The average sale price for a 2-bedroom condo/townhouse no more than 5 years old was $864,750.

*All statistics are supplied by sources that have been deemed reliable but are not guaranteed.
* Does not include deed restricted affordable housing, fractional ownership, or Government leases.
* Although some homes are not yet reflected in the Teton County GIS, this number includes homes issued building permits through Q3 2018 permits.