Jackson Hole is often ranked as the No. 1 ski resort in North America, but how does its real estate market stack up against other ski towns?
Jackson Hole Sotheby’s International Realty and its sister Mountain West offices recently compiled the 2019 real estate metrics of 12 top ski towns in their Resort Report. We’ve scoured through the data to see how Jackson Hole ranks.
Jackson Hole Had the Third-Highest Average Sales Price
It’s true that the price of Jackson Hole real estate has risen steadily in the past decade, but it still has a long way to go to reach the likes of Aspen. The place where ‘beer flows like wine’ led all resort towns with an average sales price of $4.34 million last year.
(Aspen doesn’t have two national parks at its doorstep though.)
Jackson Hole had the third-highest average sales price at $1.76 million, behind Telluride at $1.84 million.
(Did we mention that Jackson Hole Airport has more direct flights to and from more U.S. cities than Telluride’s Montrose Regional Airport?)
Average Sales Price in 2019
- Aspen, Colorado ($4,345,999)
- Telluride, Colorado ($1,839,532)
- Jackson Hole, Wyoming ($1,760,000)
- North Lake Tahoe, California ($1,658,291)
- Vail Valley, Colorado ($1,262,907)
- Park City, Utah ($1,207,418)
- Breckenridge, Colorado ($1,139,675)
- Big Sky, Montana ($1,136,998)
- Crested Butte, Colorado ($838,671)
- Steamboat Springs, Colorado ($792,524)
- Sun Valley, Idaho ($764,370)
- Santa Fe, New Mexico ($482,328)
But, Our Average Sales Price Didn’t Rise Like Many Resort Towns Last Year
While Jackson Hole has some of the highest sales prices, in good news for potential buyers, it did not see the increase in prices last year that many other resort towns experienced. Jackson Hole’s average sales price stayed essentially flat compared to the previous year (-0.9%), whereas Crested Butte saw a market-leading price increase of 25.7%.
(By the way, Jackson Hole has an extra 1,364 vertical feet of skiing compared to Crested Butte.)
Change in Average Sales Price in 2019
- Crested Butte, Colorado (+25.7%)
- Telluride, Colorado (+20.6%)
- Breckenridge, Colorado (+20.0)
- Big Sky, Montana (+18.4%)
- Steamboat Springs, Colorado (+10.0%)
- Aspen, Colorado (+7.9%)
- Santa Fe, New Mexico (+6.1)
- Sun Valley, Idaho (+5.1%)
- Park City, Utah (+4.6%)
- Vail Valley, Colorado (+0.7%)
- Jackson Hole, Wyoming (-0.9%)
- North Lake Tahoe, California (-13.4%)
We Had the Second-Largest Decrease in Average Days on Market
Highlighting the high demand for Jackson Hole real estate amid historically low inventory, the average days on market in the Tetons decreased by 20.4% last year, to 137 days. With inventory moving quickly, Jackson Hole remains a great market for sellers, while still boasting stable price trends that make it a smart investment for buyers.
Jackson Hole saw the second-largest percentage decrease in average days on market last year, behind only Big Sky.
(But Big Sky doesn’t have a National Elk Refuge.)
Change in Average Days on Market in 2019
- Big Sky, Montana (-22.6%)
- Jackson Hole, Wyoming (-20.4%)
- Sun Valley, Idaho (-20.2%)
- North Lake Tahoe (-17.3%)
- Crested Butte, Colorado (-13.7%)
- Aspen, Colorado (-10.0%)
- Santa Fe, New Mexico (-8.0%)
- Telluride, Colorado (-1.8%)
- Vail Valley, Colorado (+5.0%)
- Park City, Utah (+14.9%)
- Steamboat Springs, Colorado (+20.0%)
- Breckenridge, Colorado (+25.0)
You can view the entire 2020 Resort Report below. With the popular Ikon Pass slated to cost extra for skiing at Jackson Hole next winter, local homeowners can expect to have a little more of the mountain to themselves.