Skiers Find Luxury and Convenience in Teton Village
by Staff Writers
Teton Village has once again proven to be the place to be this winter as consistent season-wide snowfalls have brought the resort’s totals to the 500-inch mark and beyond. If the continuous storm skiing and powder days weren’t enough on their own, this weekend’s Rendezvous Spring Festival is poised to deliver an impressive, unofficial capstone to the season in Jackson Hole. The two-day music festival features a Friday night set on Jackson’s iconic town square followed by Saturday’s set in Teton Village at the base of Jackson Hole Mountain Resort.
In Teton Village, exquisite condo-hotel properties epitomize an ease of ownership and mountainside access. A two-bedroom, three-bathroom condominium in Hotel Terra serves as the ideal base camp for all that the Village has to offer. A versatile floor plan is accentuated via three separately-keyed units that offer a combined 1,137 square feet of space and includes a fully-equipped kitchen.
Hotel Terra unit 318’s flexible lock-off design can accommodate up to eight guests in an effortless ownership model.
Altogether, Hotel Terra 318 can accommodate up to eight guests, and a robust program is available to provide rental management for the unit when owners are not in residence. The AAA, 4-Diamond boutique hotel offers a suite of luxurious amenities including a heated outdoor pool and hot tub, fitness center, spa, ski valet and a dedicated owner’s locker. On-site dining is available via Il Villaggio Osteria, a bastion of Teton Village’s culinary scene serving authentic Italian cuisine, and the rest of the resort area’s offerings are only steps away.
Agents and staff from Jackson Hole Sotheby’s International Realty rode for team “Neon Nation.” The team’s members included Ashley Byington, Chelsea Baum, Ciara Malone and Amy Jones. “Rock the Ride was an absolutely stunning evening of spin coach guided rides to the most fun, classic hip hop and rock & roll mixes; riders in full costumes and high spirits, with neon lights, dancing, trampolines… every detail was attended to for this worthy cause,” said Jones.
After record-breaking sales transaction volume in 2021 and 2022, demand remains strong for real estate in resort communities throughout the Western United States. Over the past two years, many homebuyers relocated from cities to less populated regions in the Mountain West, due to the shift to virtual workplaces and demand for the mountain lifestyle.
Home prices have continued to climb as buyers demand properties in desirable locales with access to ski resorts, open space, rivers, and lakes. The average sold price for homes rose by 13.9% across the seventeen resort communities profiled in this report over the past year. The price per square foot increased by an average of 16.5%, as buyers search for properties near wilderness and outdoor recreation with limited inventory available. Year-over-year transaction volume has begun to stabilize from the buying frenzy these resort regions experienced over the past two years.
To provide analysis on these specific markets, Jackson Hole Sotheby’s International Realty participates in the annual Resort Report, in conjunction with LIV Sotheby’s International Realty, that specifically analyzes real estate market data for communities including Aspen, Beaver Creek, Breckenridge, Crested Butte, Snowmass Village, Steamboat Springs, Telluride, Vail, and Winter Park in Colorado; Park City, Utah; Sandpoint and Sun Valley, Idaho; Jackson Hole, Wyoming; Big Sky and Whitefish, Montana; North and South Lake Tahoe, California/Nevada; and Santa Fe, New Mexico.
Courtesy of Teton County Idaho Search & Rescue Foundation.
Jackson Hole Sotheby’s International Realty is proud to sponsor Teton County Idaho Search & Rescue’s annual fundraiser for the third year running. The event, which serves as the primary fundraising opportunity for the group each year, will be hosted at Moose Creek Ranch in Victor on Saturday, February 25th from 6-10pm. The evening will feature a silent auction, live music by Derrik and the Dynamos, along with light appetizers from Three Peaks and a cash bar. Tickets to the family-friendly event are $45 per adult, and $15 for kids twelve and under.
In addition to the brokerage’s financial support of the fundraiser, two Sotheby’s International Realty agents serve as board members on the Teton County Idaho Search & Rescue Foundation—the non-profit organization that provides fiscal and administrative support to the 34-member operations team.
Coming off its best year ever in 2021, the Star Valley real estate market saw a downturn in 2022, much like the rest of the regional real estate markets. Transactions slipped 45.5% in the last 12 months compared to the previous year (502 sales in 2022, compared to 921 transactions in 2021), while the overall dollar volume for the region fell 27.9% (or $273.8M last year compared to $379.9M in 2021).
It should be noted, however, the 2022 overall dollar volume was the second highest annual total on record, coming in slightly higher than 2020’s year-end tally of $255.4M and still up substantially over the pre-Covid total in 2019 of $128.1M.
And while 2022 felt like a return to some semblance of normalcy after the frenetic climate of the global pandemic, both average home sale prices and vacant land price increased last year (up 10.9% to $795,579 for a home and up 70.9% to $332,491 for a vacant parcel of land).
For the 502 transactions last year, the central portion of Star Valley (in and around Thayne) saw the most activity with 43.8% of all sales (220) and $102.1 in sales dollar volume. The northern part of Star Valley (in and around Alpine), only accounted for 29.1% of all transactions (146) but managed to generate the most dollar volume of the four MLS regions in Star Valley with $104.2M (bolstered by 24 sales of $1M or more, including 7 sales in the Alpine Airpark).
The summit of Teton Pass, like many trailheads and access locations across the west, continues to see an increase in users. Ease of side-country terrain access at ski resorts, better equipment, increasingly available information, and the overall surge in popularity of backcountry skiing within the past decade are all contributing factors to the area’s popularity. The next time you see lines forming or vehicles jockeying for a soon-to-open parking spot, you may also see a familiar face.
Brian Siegfried, an Associate Broker with Jackson Hole Sotheby’s International Realty since 2008, is in his third winter serving as one of twelve volunteers within the Teton Backcountry Alliance Volunteer Backcountry Ambassador Program. The volunteer ambassador program was initiated in 2020 to support the work of Jay Pistono. Pistono, as Teton Pass Ambassador, is a Forest Service employee and has served as the “protector of the pass” since 2005. Teton Backcountry Alliance sought to augment “a presence where there is pressure on the resource,” according to Siegfried.
Siegfried on the Glory bootpack as a part of his Volunteer Backcountry Ambassador patrol.
Siegfried, who has been an avid skier of Teton Pass for thirty years, says the position is rooted in education. “It’s Wyoming Department of Transportation’s world. We’re just living in it,” he quips when referencing that the sometimes-contentious parking area atop the pass is actually a turn-out intended for brake checks and highway operations.
Large acreage and expansive views define a tranquil neighborhood.
by Staff Writers
Diary Subdivision is a small, private subdivision in the northern South Park region of the Jackson Hole valley just beyond the westernmost edge of the town of Jackson. Comprising more than 525 acres, Dairy Ranches, as the area is commonly known, offers pastoral ranchette-style lots ranging from ten to thirty-six acres with an ideal balance of seclusion and convenience.
A sense of privacy and a preservation of open spaces define the subdivision, while panoramic views of some of the region’s iconic peaks accentuate the subdivision’s properties. Views of the Cathedral Group of the Tetons rise from between Boyle’s Hill and West Gros Ventre Butte. Glory’s signature eastern bowl and the Snake River Range’s ridges along Teton Pass are visible throughout the west, while the rolling flanks of Munger Mountain anchor the southern expanse.
Dairy Ranches is able to provide a balance of privacy and ease of access in part due to each of its three residential roads being terminal, eliminating any through-traffic. The large parcels of the former cattle ranch and dairy operation that gives the neighborhood its name offer a permeability to the landscape that allow migrating elk and other wildlife to move through the area, and help to define its semi-rural character.
2675 W Dairy Lane is an equestrian estate on 25 acres just west of the town of Jackson, complete with a 4,300 square foot barn, eight paddocks, grass riding area and dedicated jumping/riding arena.
Within the highly-esteemed subdivision, 2675 W. Dairy Lane has recently come to market and is among the valley’s most refined equestrian estates. The property’s twenty-five acres are home to a beautifully appointed, nearly-five-thousand square foot main home with three bedrooms within its single-level floor plan. A combination of log spans and timber beams lend and airy and open feeling to the home, and are accented by elegant stonework. Expansive windows showcase Teton views throughout, and provide a light-filled balance to the home that melds refined rustic accents with traditional and farmhouse elements for a warm and inviting aesthetic.
A thousand-square-foot guest home provides an additional two bedrooms and two bathrooms on either side of an open, light-filled living space. Cathedral ceilings, a generous fireplace, a kitchenette and dining area complete the guest accommodations.
The property’s equestrian facilities are among some of the finest available, with the centerpiece being its deluxe seven-stall barn of more than 4,300 square feet. The barn incorporates a tack and trophy room, workshop, and includes its own dedicated laundry and kitchen facilities. Outside, the property features two distinct riding areas—one of irrigated grass, and the other with professional footing dedicated to riding and jumping.
To the south, 2605 W Dairy Lane provides a nearly-four-thousand square foot, four-bedroom main home on eleven acres. Recent renovations include a gourmet kitchen that flows into an open and inviting layout of primary and secondary living areas—including dining area and a large den. The open plan affords a flexibility that is equally suited to entertaining and daily living, alike. Contemporary accents extend into the home’s bathrooms, where simplified lines, and monochromatic material selections provide a luxurious feel, offset by contrasting cabinetry and stainless hardware.
2605 W Dairy Lane underwent recent renovations to the nearly-four-thousand square foot, four-bedroom main home and offers a bright, open floor plan with contemporary accents. A guest apartment and separate caretaker’s quarters provide flexible accommodations.
Additional accommodations are provided via a thousand square foot guest apartment above a detached three-car garage, and a separate caretaker’s quarters within the property’s barn. All told, the property provides three distinct residential units and six garage bays to maximize versatility within this Dairy Ranches retreat.
Despite barely missing the symbolic year-end $500M mark for total dollar volume, the Teton Valley real estate market had its second-best year ever in 2022 by posting $492.7M in dollar volume with 749 transactions.
While sales for the valley were down 35.6% in 2022, individual property values generally held firm as the post-Covid wave of real estate demand began to recede. For the three main property types in Teton Valley (homes, condos/townhomes and vacant land), all three categories posted year-over-year gains for average individual sale prices.
The regions of Alta, Wyoming and Tetonia, Idaho both saw precipitous declines in total dollar volumes for sales (down 59.6% and 53.6%, respectively), but Victor and Driggs managed to hold their own in a transitional year for the market with modest drops of only 14.6% and 3.3%. The $411.0M of sales generated in Victor and Driggs also accounted for 83.4% of all dollar volume in the Teton Valley region. It should be noted too, the year-end total for the entire Teton Valley region in 2021 was $364.4M.
Jackson Hole Sotheby’s International Realty represented 149 sellers in the last 12 months, helping more sellers navigate an uncertain year than any other firm, and successfully closed one in five of all listings in Teton Valley for 2022.
For the Jackson Hole real estate market, 2022 will be remembered as the year that came in like a lion, and went out like a lamb.
Following the heady Covid surge of 2020 and 2021, the valley market cooled off in the first six months of 2022. Rising interest rates, a contentious election cycle and other external forces chilled the regional market further in Q3 and Q4.
Heading into December, the year-end dollar volume had the potential to break the symbolic $1 billion mark for the third year in a row. But a tepid final month of the year that saw only 12 closings for $50.8M landed the year-end dollar volume for the Teton County real estate market at $961.4M (down 49.4% from 2022). It’s important to note, however, that total is still greater than the pre-covid, year-end total from 2019 of $927.6M (and with nearly 50% fewer transactions than three years ago).
While the market climate is still in a state of flux, Jackson Hole Sotheby’s International Realty (JHSIR) maintained its perennial place as the leading brokerage in the valley. Despite a challenging year on several fronts, JHSIR sales accounted for 41.9% of the overall dollar volume market share in 2022, which was also greater than the next five brokerages’ totals combined.*
As the global pandemic subsides and Teton County returns to its new normal, let the resources and reach of the valley’s leading real estate brokerage help you with your real estate needs in 2023.
Teton Village residences provide flexible slopeside ownership opportunities.
by Staff Writers
Record-setting cold throughout the month of November bolstered early-season snow levels at all three of the region’s ski resorts and helped to facilitate early openings and access to additional terrain. Skiing, like most things, benefits from being in the right place at the right time. Whether you’re gathering with friends and family or chasing the next storm cycle, Teton Village provides the ideal location for your Jackson Hole ski property.
The Four Seasons Resort and Residences has long been regarded as the epitome of luxury condominium offerings in Teton Village, and its private residences further exemplify this category.
The Four Seasons Resort and Residences private residence unit 673 offers a four-bedroom, four-and-a-half bathroom, luxury slopeside condominium with true ski-in/ski-out resort access.
Unit 673 of the private residences at the Four Seasons is a true ski-in/ski-out condominium with direct access to Lower Teewinot providing quick and convenient access to the resort’s base amenities—including the tram and gondola.
Encompassing nearly 3,500 square feet across two stories, the residence provides three bedrooms—each with a private bath. An additional fourth bedroom is accommodated via the loft to complete this exquisite four-bedroom, four-and-a-half-bathroom slopeside residence. A large and inviting central stone fireplace and a wall of slope-facing windows define the open living and dining space with its lofty cathedral ceilings. Multiple patios extend from the living spaces. A chef’s kitchen features a professional gas range, double-ovens, stainless steel appliances, and a wine chiller within a generous central island. The condo is offered for sale with elegant furnishings for an unparalleled, turn-key ownership opportunity in Teton Village.
Owners at the Four Seasons Resort and Residences enjoy access to a complete offering of luxurious amenities, including dining via three on-site restaurants and an additional lounge, a heated outdoor pool, a full-service salon and spa, state-of-the-art fitness center, signature resort concierge services, and so much more. Two private, below-ground parking spaces within an owners’ garage are conferred with the condo and are accessed via elevator for convenience.
3070 Garnet Road, a freestanding Timbers townhome sited among mature trees on Granite Ridge, provides filtered mountain views and privacy just moments away from the lifts, restaurants and amenities of Teton Village.
Just north and east of the Four Seasons, the Granite Ridge subdivision of Teton Village provides a mix of single-family homes and townhomes on rolling, wooded hillsides. Bridging the two styles of property ownership, 3070 Garnet Road is a freestanding townhome that combines effortless ownership with the privacy afforded by a perimeter enhanced by mature trees with no adjoining structures. This Timbers at Granite Ridge home comprises 3,183 square feet and features three bedrooms and three-and-a-half bathrooms through its split three-level floor plan. Open-concept primary spaces on the second floor flow between kitchen, dining and living and are enhanced by a large, flat-stone fireplace, expansive windows, elegant built-ins, a wet bar and adjoining decks. An attached two-car garage and a spacious mudroom captures multiple seasons’ equipment, and a private patio with hot tub facilitates a relaxing après-ski soak. This unique Granite Ridge townhome is offered for sale including custom furnishings throughout.
On the southern end of Teton Village, the Sleeping Indian building draws in abundant natural light and captures year-round valley views. Here, unit W-9-B is a furnished, two-bedroom, two-bathroom classic Teton Village condominium. Grab your skis from the unit’s ski locker and enjoy quick and convenient car-free access to the Moose Creek ski lift and the resort beyond. A Murphy bed in the living room discretely expands the condo’s accommodations and provides additional flexibility to the nearly 900-square-foot floor plan.
The Teton Club offers private residence club condominiums in a variety of configurations for single or multi-season use.
Just up-slope from the iconic tram, the Teton Club provides fractional condo ownership in the heart of Teton Village. Ownership is available in a variety of configurations and date ranges within a private residence club model that features two- and three-bedroom condominiums. In addition to on-site concierge services and valet parking, Teton Club members benefit from available lift pass perks, private ski lockers and boot dryers, and Teton Pines membership while in residence.
Regardless of the configuration, Teton Village condos and townhomes provide the ultimate in ski-season convenience and year-round access. Flexible resort zoning affords the opportunity for personal enjoyment, or for use as an income-producing rental property.
