Luxury Q3 2016

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Luxury properties, defined as transactions over $3 million, accounted for about 7% of the total number of transactions. Luxury transactions decreased nearly 25% compared to the third quarter of 2015. The majority of the transactions took place in Teton Village largely due tothe success of the Shooting Star Development. Inventory of luxury properties remained high and accounted for over 25% of total inventory.

jackson_luxuryTransactions 34
% Change in Transactions from 2015 -24%
Minimum Price Sold $3,100,000
Maximum Price Sold $10,250,000
Average Sale Price $4,640,800
Median Sale Price $3,800,000
Average Days on the Market 398
# Pending Transactions 11

View Last Year’s Quarter 3 Luxury Report

Luxury Mid-Year 2016

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The luxury segment of the market, defined as transactions over $3 million, followed overall market trends, producing about 12% fewer transactions. Majority of transactions, about 65%, took place in the $3 million – $5 million price range.

* It is important to note in the luxury segment, the small number of transaction
size affects any comparison on a percentage basis.

# of Luxury Transactions 23
% Change in Transactions from 2015 -12%
Minimum Price Sold $3,100,000
Maximum Price Sold $10,250,000
Average Sale Price $4,793,158
Median Sale Price $3,850,000
Average Days on the Market 516
# Pending Transactions 4

luxury

Luxury 2015 Year End

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The luxury real estate market in Jackson Hole finished the year strongly with an approximate 15% increase in the number of luxury transactions. A notable shift occurred in the price range of transactions. There was an approximate 31% increase in the number of transactions over $7 million. The luxury segment of the market contributed 8% of the total transactions in 2015.

Record Sale (2015 3Q): $22,000,000*
Average Sale Price Above $3M: $4,951,000**
Number of Sales Above $3M: 60

Luxury 2015 Third Quarter

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The luxury segment of the market continued momentum through the third quarter of this year with a nearly 30% increase in the number of luxury transactions. Most notably was the increase in transactions over $7 million, which doubled when compared to this time last year. The luxury segment of the market experienced 9% of the total transactions through the third quarter of 2015.

Record Sale (2015 3Q):
$22,000,000*

Average Sale Price Above $3M:
$5,078,000**

Number of Sales Above $3M:
45

*listing price    **not including land sales

GLOBAL LUXURY REAL ESTATE AT A GLANCE
A Return to Normalcy for Most of the World’s Top Property Markets

As observed in last year’s Luxury Defined report, the world’s top cities experienced an explosion in luxury home sales during 2013, fueled by pent-up demand, increasing consumer confidence, and robust stock market returns. In 2014 however, prime property sales in these markets settled into a stable growth pattern that seems tepid compared to the year prior. (See Exhibit below).

luxSan Francisco, which startled the world with an astronomical 62% increase in $1 million-plus home sales in 2013 compared to 2012, had strong, though less explosive, annual growth of 19% in 2014. “Coming after an exceptional year of strong sales and price appreciation that ranked among the highest in the US, the growth slowdown was predictable, but the positive economic fundamentals of the San Francisco market remain unmatched,” notes Mark McLaughlin of Pacific Union International.

In Miami, the sales pace slowed from 27% growth in 2013 to 9% in 2014. “The single-digit increases of 2014, in contrast to the double-digit increases of 2012 and 2013, reflect a return to more normal market conditions,” says Ron Shuffield of EWM Realty International, whose firm sells a $1 million-plus home in Miami every 17 hours. Across the Christie’s International Real Estate Affiliate network, brokerages reported real estate sales of more than $300 million per day in 2014 ($13 million every hour). Contact me for the full report from the 2015 Global Luxury Real Estate White Paper.

Luxury 2015 Mid-Year

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The luxury market segment experienced substantial activity in the first half of

2015. The number of luxury transactions increased approximately 37% and total

dollar volume jumped an astonishing 73%. This large increase can be directly

attributed to the abundance of transactions over $8 million, which in previous

years had been low. The luxury segment of the market experienced 7% of the total

transactions in the first half of 2015, compared to only 4% in the first half of 2014.

Record Sale (mid-year): $11,250,000*

Average Sale Price Above $3M: $5,807,000**

Number of Sales Above $3M: 26