Jackson Hole Posts Top-Three Real Estate Numbers in Sotheby’s 2021 Resort Report

As if the allure of living in the mountains near ski resorts and limitless outdoor recreation was not already strong enough, the coronavirus pandemic made the remoteness of mountain towns irresistible to many homebuyers in 2020.

Now able to work from home, a permanent change for many, these affluent professionals sought properties in lower-density havens across the Mountain West, creating unprecedented demand and a ubiquitous rise in home prices.

Jackson Hole Sotheby’s International Realty has again teamed with LIV Sotheby’s International Realty to produce their 2021 Resort Report, taking a look at the eye-popping real estate numbers in 13 prominent resort areas last year.

Once again, Jackson Hole, Wyoming, stood out as one of the most sought after markets in the report, posting both the second-highest average sale price (more than $2.7 million) and the second-highest average sale price increase (nearly 60%).

Only Aspen, Colorado, the perennial favorite of the rich and famous, surpassed Jackson Hole’s numbers.

Jackson Hole also saw the third-highest percentage increase in total sales volume, nearly doubling (+99.6%) the volume of its record-breaking 2019 to $1.5 billion.

Those numbers could have been even higher were it not for extremely limited inventory due to Jackson Hole being comprised of 97% public lands, including two iconic national parks.

That scarcity in an astoundingly beautiful part of the country indicates that the Tetons will hold lasting appeal as a post-pandemic real estate market.

Average Sale Price

1. Aspen, CO ($7,237,713)
2. Jackson Hole, WY ($2,720,558)
3. Telluride, CO ($2,306,297)
4. Big Sky, MT ($1,628,542)
5. Vail Valley, CO ($1,572,335)
6. Park City, UT ($1,536,913)
7. North Lake Tahoe, CA & NV ($1,346,280)
8. Breckenridge, CO ($1,186,177)
9. Sun Valley, ID ($1,112,135)
10. Crested Butte, CO ($975,680)
11. Steamboat Springs, CO ($841,669)
12. South Lake Tahoe, CA & NV ($767,390)
13. Santa Fe, NM ($531,149)

Average Sale Price % Increase

1. Aspen, CO (+64.0%)
2. Jackson Hole, WY (+59.8%)
3. Sun Valley, ID (+45.8%)
4. Big Sky, MT (+45.6%)
5. Park City, UT (+27.3%)
6. Telluride, CO (+25.0%)
7. North Lake Tahoe, CA & NV (+21.0%)
8. Vail Valley, CO (+20.9%)
9. Steamboat Springs, CO (+19.8%)
10. Crested Butte, CO (+14.7%)
11. Santa Fe, NM (+12.9%)
12. South Lake Tahoe, CA & NV (+9.9%)
13. Breckenridge, CO (+4.2%)
    

Total Sales Volume

1. Park City, UT ($3,728,551,137)
2. North Lake Tahoe, CA & NV ($3,285,013,929)
3. Vail Valley, CO ($2,644,668,179)
4. Aspen, CO ($2,482,535,400)
5. Santa Fe, NM ($1,753,856,088)
6. Jackson Hole, WY ($1,515,350,952)
7. South Lake Tahoe, CA & NV ($1,009,908,466)
8. Sun Valley, ID ($951,142,811)
9. Breckenridge, CO ($922,846,003)
10. Steamboat Springs, CO ($918,260,554)
11. Telluride, CO ($781,834,564)
12. Big Sky, MT ($612,331,718)
13. Crested Butte, CO ($350,269,202)
    

Total Sales Volume % Increase

1. Aspen, CO (+146.7%)
2. Big Sky, MT (+103.5%)
3. Jackson Hole, WY (+99.6%)
4. Telluride, CO (+97.0%)
5. North Lake Tahoe, CA & NV (+86.1%)
6. Sun Valley, ID (+82.2%)
7. Crested Butte, CO (+79.9%)
8. Park City, UT (+69.2%)
9. South Lake Tahoe, CA & NV (+52.9%)
10. Vail Valley, CO (+50.5%)
11. Steamboat Springs, CO (+44.8%)
12. Breckenridge, CO (+29.7%)
13. Santa Fe, NM (+17.1%)

Click below to view the entire 2021 Resort Report. If you’re interested in buying a home in Jackson Hole — or in selling your home in this advantageous market — please do not hesitate to contact us at jhpropertygroup@jhsir.com or by calling 307-739-8190.