Teton County Real Estate
Due to the small amount of private land available (see Conservation Alliance & Land Trust) and the rising popularity of the town of Jackson Hole and Teton Village Real Estate as a place to reside, real estate prices have skyrocketed in Teton County.
In between the years of 1990 and 2000, Teton County experienced a mass of people moving to the town of Jackson and the surrounding areas such as Teton Village and regions close to Grand Teton National Park and Yellowstone National Park. As a result, the normal cost of a home in Teton County almost tripled. For example, in 1990, the cost of houses raised 178%. This percentage increase was incredible compared with the 57% increase in Wyoming and 51% nationally. 2004 was a record year in real estate history for Teton County, the town of Jackson Hole and Teton Village (located the base of the major Jackson Hole ski resort). For example, there was over $900 million in real estate sales compared with $700 million in the year 2000! Also, in 2004, the median sale price for a single-family home was $615 compared to $565 in the year 2000.The real estate industry in Teton County has seen a lot of growth in the past years.
In the near future, several issues will and already have affected real estate sales in the town of Jackson, Teton Village, the surrounding area of Grand Teton National Park and possibly all of Teton County. For instance, the Four Season Resort of Jackson Hole (located in Teton Village at the bottom of one of the Jackson Hole ski resorts) was just recently built, and attracts many very wealthy customers. Many of these high-income customers already have and will invest in real estate in the town of Jackson, Teton Village, surrounding areas of Grand Teton National Park and other areas of Teton County.
Another factor affecting real estate in Teton County is the purchase of 1,324 acres of land in Spring Gulch by the Hillwood group in 2004. This real estate sale set a record in the real estate history of Teton County for being the highest priced real estate transaction. The Hillwood group plans to turn this land into 35 to 50 acre land plots for sale. Some 35 to 50 acre parcels have already been sold for over $10 million. This real estate break-through is now attracting many other high-income people to live in Teton County and build luxury homes.
In addition, many more high demand golf resorts are supposed to be built within the next three years (3 Creeks Ranch and Snake River Sporting Club being two of them.) These golf resorts will accompany the already existing popular golf resorts, Teton Pines and Jackson Hole Golf & Tennis.
