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Demand strong for Jackson Hole golf properties

By   /  June 24, 2016  /  No Comments

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The 16th hole at Teton Pines is one of the valley's best par 3s, and the golf community is Jackson Hole's most prolific in terms of real estate sales.

The 16th hole at Teton Pines is one of the valley’s best par 3s, and the golf community is Jackson Hole’s most prolific in terms of real estate sales.

(This story originally appeared in Jackson Hole Golfer Magazine, available now throughout Jackson Hole or by request)

Golf properties in Jackson Hole remained a very vibrant and significant percent of the real estate market during the year ending in Spring 2016, with 32 residential sales for approximately $105 million in sales volume. Teton Pines recorded the most sales, according to Teton County Multiple Listing Service, with 16 closed transactions, followed by Shooting Star with 7 sales and Jackson Hole Golf & Tennis with 6.

Overall, the residential golf home market increased approximately 26 percent in sales volume, despite reporting just one more transaction. Top sales driving the significant bump in sales volume include:

  • 3 Creek Ranch 5-bed, 7-bath, 6,638-square-foot custom home on 2.4 acres listed by 3 Creek Ranch Real Estate for $14.9 million.
  • Shooting Star in Teton Village 6-bed, 5,698-square-foot home on 2 acres listed by Clear Creek Group for $10.55 million.
  • Teton Pines 5-bed, 5,535-square-foot home on about three-quarter acres built in 2014, listed by Jackson Hole Real Estate Associates for $4.95 million.
  • Snake River Sporting Club 5-bed, 5,824-square-foot home on about a half an acre built in 2012, listed by REMAX Obsidian Real Estate for $2.5 million.
  • The top sale in Jackson Hole Golf & Tennis in the year prior to May 1 was a 3-bed, 2,057-square-foot “cabin” listed by Jackson Hole Sotheby’s International Realty for $1.395 million.

    Construction has been full speed ahead for single-family homes and townhomes at Shooting Star in Teton Village.

    Construction has been full speed ahead for single-family homes and townhomes at Shooting Star in Teton Village.

Jackson Hole golf course building site sales during the same period increased 38 percent over the previous 12-month period sales with 25 deals for approximately $40 million in sales volume. 3 Creek Ranch led with 7 transactions, followed by Shooting Star with 6, Golf & Tennis with 5, Teton Pines with 4 and Snake River Sporting Club with 3.

Building site sales highlights include:

  • The least-expensively priced home site to sell was a .15-acre Teton Pines lot listed by Prugh Real Estate for $475,000.
  • A 35.5-acre 3 Creek Ranch home site listed by 3 Creek Ranch Real Estate for $4.9 million was the largest and most-expensively priced home site to sell.
  • The top land sale in Shooting Star was for a 1.79-acre lot listed by Jackson Hole Sotheby’s International Realty for $2.95 million.

Active residential listings among the five Jackson Hole golf courses, as of May 1, included 23 homes or approximately 10 percent of listings in Teton County, Wyoming. Golf course building site options are even more abundant in Jackson Hole, with 24 properties listed.

This approximately 4,000-square-foot cabin at 3 Creek Ranch is the most common residential real estate option with prices currently at approximately $3.3 million.

This approximately 4,000-square-foot cabin at 3 Creek Ranch is the most common residential real estate option with prices currently at approximately $3.3 million.

Highlights among the actively listed properties include:

  • A fractional ownership unit at Teton Pines listed by Jackson Hole Sotheby’s International Realty is priced at $224,000 and includes six pre-planned weeks of use.
  • The lowest-priced full ownership Jackson Hole golf course property is a 4-bed, 2,916-square-foot home on .82 acres built in 1993 in Jackson Hole Golf & Tennis, listed by Jackson Hole Sotheby’s International Realty for $1.295 million.
  • There are 8 homes priced between $2 million and $3 million. Snake River Sporting Club has two such listings, including a 5-bed, 3,535-square-foot home on .36 acres built in 2010 that overlooks the back nine and is in walking distance to the clubhouse, listed by REMAX Obsidian Real Estate for $2.399 million.
  • There are 7 homes priced between $3 million and $4 million. 3 Creek Ranch has two such listings, both of them “cabins” with similar design and construction, both approximately 4,300 square feet and on about a half acre, and both priced just below $3.4 million.
  • The top priced Teton Pines active residential listing is a 4-bed, 4,856-square-foot home on 1.21 acres built in 2006, listed by Jackson Hole Sotheby’s International Realty for $4.95 million.
  • Teton Pines also lays claim to the highest-priced active listing as of May 1, with a 4-bed, 5-bath, 8,467-square-foot home built in 2001 on 2.25 acres surrounded by water, Jackson Hole Sotheby’s International Realty for $8.395 million.

 

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