Housing Trends & Real Estate Values
Jackson Hole Real Estate- A Matter Of High Demand and Low Supply
You don’t have to be an economics major to realize that high demand and low supply translates into soaring costs. But Jackson Hole homebuyers, be not discouraged. Regardless of high housing prices and a limited supply of land, there are affordable homes available in the Jackson Hole real estate market. You just have to know where to look. And if money isn’t an issue for you, then you’re in for one amazing real estate and lifestyle investment. The quality of estate and luxury homes makes Jackson Hole one of the best cities in which to live in the nation.
A Realistic Look At Jackson Hole Real Estate Property Values
Any Jackson Hole resident can talk your ear off about how Jackson Hole is different from anyplace else in the country. Though this applies to the natural beauty of the region, it also describes Jackson Hole’s real estate market and property values. In Teton County, there is a limited amount of developable land available. Land and property wise, there truly is no place like Jackson Hole because:
• More than 97% of Teton County’s 2.7 million acres of land is preserved by national park, national forest, the Bureau of Land Management or other land preservationists.
• Of the 3% of Jackson Hole valley privately owned land, two-thirds is currently developed or protected by conservation easements.
These two facts alone can account for the belief that Jackson Hole property has a better chance of maintaining or increasing in value than property elsewhere in the nation. For example, Jackson Hole property prices tripled during the 1990s, and due to scarcity, are believed to continue with that trend. Though nothing is guaranteed in real estate since it is affected by the general economy and other factors, one thing is certain. Jackson Hole real estate will continue to be held at a premium because it is in short supply, enjoys high quality development, and residents are determined that it will remain that way.
Choosing and Buying a Home In the Jackson Hole Real Estate Market
Did You Know?Wyoming does not collect income taxes and maintains some of the lowest property and inheritance taxes in the country - making it one of the most "personal wealth" friendly states in the US.
With the average home price in Teton County over $1 million dollars and property values on the rise, homebuyers have a lot to consider when investing in Jackson Hole real estate. Jackson Hole homebuyers are attracted to upscale amenities in the valley, from 5-star restaurants to fine and eclectic art galleries. Today’s telecom and Internet technologies provide professionals the tools they need to stay connected with global enterprise. The lifestyle and real estate possibilities are unlimited, unlike the land.
Depending on the area you choose, condominium and town home prices average around $400,000. The low-end options begin in the $200,000 range while a ski-in, ski-out condo can run into the millions. New condo and town home developments are under construction offering fractional or full-time ownership.
If you’re ready to embark on building your custom dream home, you couldn’t choose a better location than Jackson Hole. Jackson Hole is home to some of the most renowned architectural firms in the U.S. Many earned their reputation by blending the beauty of the region with cutting edge home amenities and building techniques. Not only can they take your visualization from idea to drawing board, but they will also educate you on choosing the best lot site and contractors for your specific needs.
If building from the ground up isn’t your thing, then you won’t be disappointed with the variety of existing resale homes for sale in the Jackson Hole market. Resale homes in Jackson Hole range from cozy log cabin styles to exquisite palaces tucked away in higher elevations with unobstructed views of the mountains from every window. To be in the center of the action, all you have to do is head to the town of Jackson for a variety of neighborhoods featuring a mix of condos, new single-family homes, and older homes chuck full of old West charm and history.