North of Town—Views Beyond Comparison

by Ed Liebzeit, Associate Broker

Real estate north of Jackson is characterized by expansive mountain views, and offers a variety of inventory that ranges from condominiums to ranches, and everything in between—even the occasional private in-holding within Grand Teton National Park. This region continues to  offer some enticing options. Although still a bargain in some areas, it may be catching up to the rest of Jackson Hole.

Historically, the pricing of homes and land closer to the Tetons has defied logic…if you want big views, north of town is where you can get some of the best. An important factor to consider is the perceived versus actual value. Based on an average basis, and understanding that no two sales are the same, the dollar per-square-foot selling price for homes north of town is about 20% less than homes sold on the Westbank (north and south of Wilson). North of town there are currently 36 building sites listed for sale; nineteen of those are listed for less than $1 million. Compare that to the Westbank where there are only 23 building sites for sale, and of those only 3 are listing for less than $1 million.

In 2018, dollar volume of sales north of Jackson increased by 55%, which included 23 sales over $3 million compared to only 12 in 2017. The average sales price north of town jumped 51% to $2.7 million, which was the largest increase than all other areas in the region. The number of single-family home sales north of town was up 24%, while dollar volume increased by 85% compared to last year.

Lot sales north of town were lower than in the previous year. There were 30% fewer sales and 24% less volume within this category than in 2017—a trend witnessed in other areas within the region as well.

The appeal of north of town properties is multifold—stunning views; surrounding national parks and forests; proximity and access to hiking, wildlife and the best of nature right outside your door.

Golfers, hikers, bikers, and fisherman have immediate access to their pursuits with the proximity of the Jackson Hole Golf & Tennis Club; a bike path going from town all the way to Jenny Lake; the Snake and Gros Ventre Rivers, Pacific Creek, Emma Matilda Lake and much more. Live just minutes from the entrances to Grand Teton and Yellowstone National Parks while being close to the airport, town and other amenities.