3RD  QUARTER  

                                     2017    

NUMBER  OF  OVERALL  SALES  CONTINUES  TO  FALL  

2017  marks  the  fourth  year  of  dwindling  sales  in  our  valley.    When  compared  to  2013,  the  overall   numbers   of   sales   are   down   13%,   home   sales   are   down   27%,   and   single-­‐‑family  lot  sales  are  down  15%.    The  only  segment  of  the  market  where  number  of  sales  has  not  fallen  is  condos/townhomes,  where  the  number  of  sales  has  hovered  at  the  same  level  for  five  years  running.    For  the  past  few  years,  we  have  pointed  to  dwindling  available  and  affordable  inventory  as  the  reason  for  the  slow  down.  This  year,  we  see  a  slight   increase   in  affordable   inventory,  yet  the  number  of  sales  continues  to  fall.  What’s  going  on?    First,  let’s  take  a  look  at  the  different  segments  of  our  market:  While  the  condo/townhome  median   sale   price   increased   40%   since   2013,   inventory   in   this   segment   continues   to  replenish  itself.    On  the  flip  side,  while  the  single-­‐‑family  home  median  sale  price  increased  47%  since  2013,  the  number  of  overall  home  sales  is  down  27%.    This  drop  in  the  number  of  home  sales  can  be  directly  attributed  to  the  drop  in  home  sales  under  $1  million  (down  57%).    The  number  of  single-­‐‑family  lot  sales  since  2013  is  also  down,  having  dropped  15%,  yet   the  median  sale  price   is  up  18%.    While   it  appears  single-­‐‑family   land  sales  are   faring  better   than   homes,   please   keep   in  mind  we   are   down   54%   in   the   number   of   land   sales  when  compared  to  2007,  or  the  height  of  our  market.    WHY  THE  SLOW  DOWN  IN  NUMBER  OF  SALES?      Two  factors  are  playing  a  big  part—the  age  of  available  single-­‐‑family  homes,  and  the  cost  of  new  construction  and  remodeling.    Looking  at  current  home  inventory  under  $1  million,  69%  of  the  homes  are  30+  years  old,  with  most  in  need  of  major  remodeling.    During  the  Great  Recession  many  locals  saved  their  money  and  were  able  to  purchase  a  home  with  20%  down  and  still  had  money  to  upgrade  or  remodel  before  the  family  moved  in.    Today,  with  the  average  sale  price  of  a  single-­‐‑family  home  being  $1.86  million  (or  24%  higher  than  2013),  locals  can  no  longer  afford  the  20%  down  and  have  money  left  over  to  remodel.    While  remodeling  cost  is  hard  to  gauge,  new  construction  prices  are  being  quoted  from  $400  per  sq.  ft.  to  more  than  $1,000  per  sq.  ft.    Combine  the  new  construction  cost  with  the  median  sale  price  of  single-­‐‑family  vacant  lot  in  2017  ($795,000)  and  a  newly  built  2,000  sq.  ft.  modest  home  will  cost  you  $1,595,000.    This  price  range  is  impossible  for  most  local  buyers.    

 Is  the  slowdown  affecting  property  values?    Based  on  the  ever-­‐‑increasing  median  sales  prices,  it  does  not  appear  so.    Since  2013,  the  median  sale  price  of  a  single-­‐‑family  home  is  up  47%,  the  condo/townhome  median  sale  price  is  up  40%  and  the  single-­‐‑family  vacant  land  median  sale  price  is  up  18%.        Another  indication  of  increasing  home  values;  Q-­‐3  2017  marks  the  first  time  in  the  history  of  Jackson  Hole  real  estate  where  we  tracked  more  homes  sold  in  the  $1  to  $2  million  price  range  (68)  than  homes  in  the  under  $1  million  price  range  (61).    If  you  would  like  an  assessment  of  the  current  value  of  your  Jackson  Hole  property,  please  contact  us  for  a  free  comparative  market  analysis  by  calling  307-­‐‑732-­‐‑3400  or  emailing  your  Clear  Creek  Group  agent.    DATA-­‐DRIVEN  REPORT  FOR  THE  FIRST  NINE  MONTHS  OF  2017    The  Jackson  Hole  Report  is  the  oldest,  most  accurate  and  comprehensive  real  estate  market  report  in  Teton  County,  WY.    We  derive  our  statistics  from  a  privately  maintained  database  that  tracks  every  single  sale,  not  just  the  transactions  reported  through  the  MLS.    NOTE:  Only  68%  of  sale  prices  valley-­‐‑wide  in  2017  is  reported  to  MLS.      

THE  OVERALL  MARKET       1   q    When   compared   with   the   first   nine   months   of   2016,   the   overall   number   of   sales   has  decreased  by  5%.    Following  suit,   the  dollar  volume  dropped  9%,  and   the  average  and  median  sale  prices  both  dropped  by  3%.    The  decline  in  the  number  of  sales  reflects  the   decrease   in   the   number   of   single-­‐‑family   home   sales   under   $1  million   (down  26%).    The  decline   in  the  under  $1  million  segment   is  nothing  new,  as  we  have  seen  a  steady  drop  since  late  2013—the  tail-­‐‑end  of  the  great  recession.    Since  then,  the  number  of  home  sales  under  $1  million  has  dropped  57%.      NOTE:   For   the   first   time   in   the   history   of   Jackson   Hole,   there   were   more   home   sales  between  $1  and  $2  million  than  under  $1  million.    Overall  properties  under  contract  decreased  by  34%  when  compared  to  this  time  last  year.     Dollar   volume   and   the   average   list   price   are   down   45%   and   18%   respectively.    Bucking  the  trend,  the  median  sale  price  is  up  8%  to  $1,925,000.    NOTE:  Currently  29%  of  the  properties  under  contract  are  listed  for  under  $1  million,   and  only  10%  are  listed  for  less  than  $500,000.      The  increase  in  the  median  list  prices  is  the  result  of  the  strong  upper-­‐‑end  of  the  market  ($2+  million),  where  53%  of  under  contract  listings  have  contributed  78%  of  the  dollar  volume.    

 Overall  inventory  of  active  listings  increased  by  1%  to  430,  and  the  dollar  volume  is  up  4%.     Following   suit,   the   average   and  median   listing   prices   have   climbed   3%   and   13%  respectively.    This   increase   in   inventory   is  most  acutely   felt   in   the  $3+  million  segment,  i.e.   the   “Luxury  Market,”  where  available  home   inventory   is  up  35%—the  highest  level  ever.    NOTE:  The  number  of  active  home  listings  under  $1  million  is  down  30%.  

The   upper   end   of   the  market—properties   priced   at   $2   million   and   above—reports   a   14%   drop   in   sales.    Closer  inspection  finds  that  18  of  the  79  high-­‐‑end  sales  closed  for  more  than  $5  million—down  18%  from  last  year—and   only   three   sold   for   more   than   $10   million.     NOTE:   While   the   number   of   $2+   million   sales  represented  only  18%  of  the  total   transactions,   this  segment  accounted  for  53%  of  the  overall  dollar  volume  for   the   first  nine  months  of  2017.  To   learn  more  about   the   Jackson  Hole   luxury  market,   please   contact   your  Clear  Creek  Group  agent  or  call  307-­‐‑732-­‐‑3400.      

SINGLE  FAMILY  HOMES    Single-­‐‑family  home  sales  have  slowed  somewhat  this  year.    When  compared  to  the  first  nine  months  of  2016,  the  number  of   sales  was  down  18%   and   the   dollar   volume   decreased   15%.    Meanwhile,   the   average   and  median   sale   prices   have   increased  by  4%  and  7%   respectively.     These   increases   in   the   average   and  median  prices  reflect  a  drop  in  under  $1  million  home  sales  (down  26%).        In   2017,   the   hot   sale   price   for   single-­‐‑family   homes   hovers   between   $1   to   $2-­‐‑million,   where   68   sales   have  occurred.    The  $500,000  to  $1  million  million-­‐‑price  range  fared  almost  as  well,  with  61  sales  so  far  this  year,  accounting  for  37%  of  overall  home  sales.      Hot  areas  for  home  sales:  The  Town  of  Jackson  leads  with  32%  of  total  sales  in  the  valley,  followed  by  South  of   Jackson  with   21%   of   the   sales.   Rafter   J   Ranch  won   the   title   of   top   subdivision  with   11   homes   sold,  with  Cottonwood  Park  coming  in  second  with  8  homes  sold.    Single-­‐‑family  homes  under  contract  are  down  by  41%.    Following  suit,  the  dollar  volume,  and  average  and  median  asking  prices  for  homes  under  contract  are  down  52%,  18%  and  10%  respectively.    Of  the  20  homes  under  contract,  6  are  listed  for  under  $1  million  while  5  are  listed  for  over  $3  million.    Available   inventory  of   listed  homes   is   currently  up  by  18%  with   dollar   volume   up   30%.  Meanwhile,   the  average  and  median  listing  prices  are  once  again  breaking  records  for  the  first  nine  months  of  the  year.    The  average  listing  price  has  climbed  10%  to  reach  $4.05  million,  and  the  median  listing  price  jumped  9%  to  $2.495  million.    NOTE:  Of  the  197  homes  currently  on  the  market,  only  1  is  listed  for  under  $500,000.    In  the  under  $1  million  segment,  there  are  27  homes  for  sale  (second  lowest  amount  since  2007).     In  the  $1-­‐‑  to  $3-­‐‑million  price  range  inventory  is  at  par  when  compared  to  2016,  while  the  $3+  million  inventory  is  up  34%  to  88  listings.      As  of  October  1,  the  least  expensive  home  on  the  market  is   listed  for  $465,000—a  1,334  sq.   ft.   two  bedroom,  one   bath   home   in  Hoback   Junction.     On   the   flip   side,   the  most   expensive   listing   is   $28  million.    This   retreat  North  of  Jackson  features  an  11,500  sq.  ft.  four-­‐‑bedroom,  five-­‐‑bath  modern  home  built  in  1993.    The  40  private  acres  offer  3/4  mile  of  trout-­‐‑filled  spring  creeks  and  private  golf  under  the  shadow  of  the  Tetons.          

     

CONDO/TOWNHOME    Condo   and   townhome   sales   to   date   are   on   par   with   2016,   with   no   change.  Meanwhile,   the   dollar   volume   and   average   sale   price   are   both   up   6%,   but   the  median  sale  price  is  down  3%.    While  condo  sales  over  $1  million  are  down  8%,  do   not   read  much   into   this   as   there   are   currently   29   condos   listed   for   over   $1  million  under  contract.    Over  half  of  the  activity  in  the  $1+  million  segment  is  occurring  in  Teton  Village  and  Shooting  Star,  where  64%  of  all  sales  over  $1  million   occurred   in   2017,   and   63%   of   all   listings   over   $1   million   are   under  contract.    The   hot   spot   for   condo/townhome   sales   lies   between   $500,000   and   $1  million  where  78   sales  occurred,   accounting   for  47%  of  all   condo/townhome  sales.      Of  those  78  sales,  55%  were  in  the  Town  of  Jackson,  and  14%  were  South  of  Town.    Of  all   the  167  condos  sold  so   far   in  2017,   the  Town  of   Jackson   led  with  57%  of  total  sales,  followed  by  Teton  Village  with  21%.  NOTE:  With  only  15  sales  under  $300,000   so   far   in   2017   and   no   condos   currently   listed   in   that   price   range,   it  appears  the  window  of  opportunity  in  this  price  range  has  closed.      The   number   of   condo/townhomes   under   contract   is   down   21%.   The   dollar   volume   is   down   20%   and   the  median   list   price   is  down  19%.     Currently,   there   are  38   condo/townhomes  under   contract,  with   almost  half  located  in  Shooting  Star  in  Teton  Village.  NOTE:  Of  the  condos  under  contract,  21%  are  listed  under  $1  million  (down  53%)  and  10%  are   listed  under  $500,000.    Because   the  greatest  demand  continues   to  be   for  condos  under   $500,000,   supply   is   steadily   shrinking   in   this   price   range   as   new   listings   are   gobbled   up   quickly.    Current  inventory  indicates  that  the  number  of  condo  listings  in  this  segment  is  down  82%  when  compared  to  the  2009  high  (96  listings  versus  the  current  17).    

Available  inventory  of  condos/townhomes  has  inched  up  5%  so  far  in  2017.    The  current  condo/townhome   inventory  (67   listings)  reflects  one  of   the   lowest   in  20  years.     In  stark  contrast,  we  hit  a  20-­‐‑year  high  back  in  2009  with  200  condos  on  the  market  at  the  close  of   the   third  quarter.    While   the  number  of   listings   is   up   slightly,   the   average   and  median  list  prices  slipped  12%  and  16%  respectively.    Here’s  how  the  inventory  breaks  down:  17  under  $500,000;  31  between  $500,000  and  $1  million;  14  between  $1  million  and  $2  million;  and  5  over  $2  million.    

 SINGLE  FAMILY  VACANT  LAND    

 Single-­‐‑family   vacant   lots   are   seeing   a   reversal   from   2016,   with   a   22%   increase   in  number  of  sales  in  the  first  nine  months  of  2017.    While  the  number  of  sales  is  up,  the  average  and  median  sale  prices  are  down,  31%  and  28%  respectively.    The  big  drop  in  the  median  sale  price  ($795,000)  reflects  a  73%  increase  in  the  number  of  sales  under  $1  million,  with  15  of  those  selling  for  under  $500,000.    Two  things  to  note:  1)  There  are  currently  11  vacant  land  listings  under  $500,000  on  the  market,  or  8%  of  the  available  inventory;  and  (2)  the  82  land  sales  so  far  in  2017  is   less  than  half  the  number  of   land  sales  in  the  first  nine  months  of  2007,  which  registered  177  sales.      

The  2017  hot  spots  for  vacant  single-­‐‑family  land  sales  are  the  Town  of  Jackson,  South  of  Jackson  (South  Park),  and  North  of  Jackson  to  Moran,  all  experiencing  at  least  a  50%  increase  in  number  of  sales  when  compared  to  the  first  nine  months  of  2016.    The  number  of  single-­‐‑family  vacant  lots  under  contract  is  down  45%   compared  to  this   time   last   year.     Following   suit,   the   dollar   volume   is   down,   and   the   average   listing  price   is  down  16%.    NOTE:  Of   the  vacant   single-­‐‑family   lots  under   contract,   only  one   is  listed  for  under  $500,000.    Available   inventory   of   listed   lots   in   the   third   quarter   is   down   12%.   Dollar   volume   is   down   15%,   and   the  average  list  price  is  down  4%.    Based  on  the  2017  sales  pace  thus  far,  current  inventory  of  single-­‐‑family  vacant  land  will  sustain  the  market  for  16  months.      JACKSON  HOLE  LUXURY  REPORT  

 Market   dynamics   have   changed   drastically   during   the   22   years   we   have  published  the  Jackson  Hole  Report.    During  our  tenure  tracking  real  estate,  we  marveled  at  the  growth  of  the  high-­‐‑end  market,  and  came  to  realize  this  elite  segment  warranted  special  attention.    For  this  reason,  we  created  the  Jackson  Hole  Luxury  Report  in  2013,  a   limited-­‐‑edition  newsletter  focused  exclusively   on   high-­‐‑end   properties,   which   we   define   as   $3   million   and  above.                                                                                  .    The   purpose   of   this   limited-­‐‑edition   report   is   to   provide   high-­‐‑end   buyers  and   sellers   with   a   clear   understanding   of   the   local   luxury   landscape.  

Building  on  the  analysis  of  the  Jackson  Hole  Report,  we  delved  deeper  into  the  dynamics  of  the  market  above  $3  million.  Since  2013,  each  semi-­‐‑annual  edition  has  brought  great  response  and  feedback   from  our  readers.    Some  seek  our  knowledge  of  their  property  value  for  estate  planning,  or  when  considering  to  sell.    Others  need  more   information   about   the   overall   luxury  market.    Many   existing   and   future   property   owners   also   request  more   information   about   real   estate   related   services   such   as   Caretaking,   Asset  Management   and  Villa   Rental  opportunities.                                                                                                      The  singular  nature  of   luxury  listings  in  Jackson  Hole  requires  that  each  sale  be  examined  in  great  detail  and  truly   special   properties   must   be   considered   incomparable.   When   pricing   this   type   of   property,   you   need   a  luxury   data   specialist   to   ensure   success.     As   a   courtesy   to   new   clients,   we   provide   a   free   confidential  market  analysis  of  their  distinctive  property,  and  continue  to  update  the  current  value  of  the  property  for   estate   planning   and/or   trust   updates.                                                                                               .      While   the   Luxury  Report   focuses   on   luxury  homes,   condos   and   single-­‐‑family   vacant   parcels,   our  mailing   list  considers  a  wider   lens   inclusive  of   select  commercial  properties,   large   tracts  of   land,  and  ranches   in   Jackson  Hole.    Currently  there  are  1,593  properties  worth  $3+  million  in  Jackson  Hole,  and  on  our  mailing  list.                                                                                                    If  you  are  not  currently  receiving  the  Luxury  Report;  would  like  to  know  what  your  luxury  property  is  worth  in  today’s  market;  or  to  sign  up  for  the  digital  version,  please  contact  your  Clear  Creek  Group  agent  or  call  307-­‐‑732-­‐‑3400.                          

 

A L E A D E R I N L U X U RYFULL SERVICE REAL ESTATE, PROPERTY MANAGEMENT & VILLA RENTAL

The Clear Creek Group has been serving discerning homeowners in

Jackson Hole for over twelve years; offering full service Real Estate,

Property Management, and Villa Rentals in premier properties across the

valley. Our brokerage team is seasoned, highly experienced in the luxury

market, and poised to handle all of your real estate needs, from purchasing

a vacation home, relocating permanently, or acquiring properties for your

investment portfolio. As your property manager, we will represent you

through the entire real estate transaction process and beyond.

1 2 0 We s t P e a r l A v e n u e , J a c k s o n , W y o m i n g 8 3 0 0 1 ( 8 7 7 ) 4 2 7 - 3 4 0 0 t h e c l e a r c r e e k g r o u p . c o m / r e a l e s t a t e

 

for a week... for a month...

for a l ifetime. . .

DISTINGUISHED, PERSONALIZED SERVICE

IMPECCABLE REPUTATION

• Experienced agents with extensive

history, intimate knowledge of the

Jackson Hole luxury market

• On-site team who lives, works and

plays in Jackson, and is passionate

about sharing with you

• We bring an abundance of

qualified buyers, serving over 450

villa rental clients annually, many

of whom transition to homeowners

after falling in love with Jackson

• Over 20 years of market data,

analytics, operating cost and rental

performance history to help you

make the most informed decisions

pertaining to your real estate asset

• Our clients know what they want; we take the time to get it

right, and we work tirelessly to exceed their expectations

• On-site team of talent, including graphic design, staging, and

marketing, all available to prepare your home for sale or for rent

• Our team of caretakers, housekeepers, and maintenance

engineers is on call 24 hours per day, ensuring you can rest-

easy, knowing your home is well cared for, no matter what

• We operate with a single-minded commitment to excellence

and meaningful relationships

1 2 0 We s t P e a r l A v e n u e , J a c k s o n , W y o m i n g 8 3 0 0 1 ( 8 7 7 ) 4 2 7 - 3 4 0 0 t h e c l e a r c r e e k g r o u p . c o m / r e a l e s t a t e

 

L E T U S H E L P Y O U . . .FIND THE PERFECT PROPERTY, TAKE CARE OF YOUR CURRENT HOME OR

MAXIMIZE YOUR RENTAL REVENUE

AS YOUR PROPERTY MANAGER, we will protect and enhance your home’s value. A dedicated

Homeowner Relations Manager will serve as your ambassador and source of personalized

concierge services. Our company founders and tenured management team are based

in Jackson, providing an unparalleled depth of experience, drawing from the real estate,

property/asset management, hospitality, and real estate development sectors.

WHEN YOU CHOOSE TO RENT YOUR HOME, we will maximize revenue generating

opportunities based on your personal goals. Our rental portfolio includes the most sought-

after properties in the valley. We promote them through implementation of a comprehensive

marketing plan, including digital, direct sales, social media, revenue management and

strategic partnerships.

TAKE ADVANTAGE OF OUR FULL RANGE OF CONCIERGE AND LIFESTYLE SERVICES, and

allow us to help create unique, memorable experiences while making the most of your time in

Jackson. Let us pay your bills, accept and deliver your packages, tune your skis, and deliver

your vehicle to the airport. All you need to do is turn up!

Our programs are highly-flexible and personalized, all in an attempt to accommodate your

specific goals. We provide you with peace of mind and the assurance your Jackson home is

well cared for, regardless of where you may be in the world.

1 2 0 We s t P e a r l A v e n u e , J a c k s o n , W y o m i n g 8 3 0 0 1 ( 8 7 7 ) 4 2 7 - 3 4 0 0 t h e c l e a r c r e e k g r o u p . c o m / r e a l e s t a t e

Call us today at 877-427-3400 or 307-732-3400 and discover how The Clear Creek Group will help you find the perfect property, take care of your current home or maximize rental revenue.

 WANT TO LEARN MORE AND SUPPORT NEXT

YEAR’S TRIBAL YOUTH CORPS? CALL 307-732-0629 OR VISIT WWW.GTNPF.ORG

Grand Teton National Park Foundation’s Tribal Youth Corps Helps Dreams Become Reality

“Being outdoors and working with a national park—this has been a dream I’ve always wanted. It seemed like a great op-portunity to get my foot in the door.” That’s how Kirkland Shakespeare summed up his experience last summer working

on Tribal Youth Corps (TYC) in Grand Teton National Park. The program brings Native American high-school students

from regional reservations into the park for multiweek internships. Participants improve historic properties and renew

trails while being immersed in the outdoors. The time also introduces National Park Service (NPS) careers and public

lands stewardship. Shakespeare, one of nine students from Wind River Reservation, powered through heat, rain, and dust

with teammates during long workdays. In off hours, the crew tested their mental and physical mettle by rock climbing,

rafting, and backpacking.

TYC began when a Foundation donor provided funding for improvements on Mormon Row, and Montana Conservation

Corps wanted to employ young Native American recruits. Grand Teton realized tribal students could do the job and hone

their skills all while exploring their ancestral lands. Two years and twenty students later, TYC has logged a growing list of

accomplishments.

What about the future? Shakespeare wants to work outdoors. Whatever path these young people choose, one thing is

certain: They are gathering experiences, skills, and contacts while developing a can-do attitude. Whether they pursue a

career in the NPS or something different, their summer has been one of self-discovery, confidence building, and a wider

view of the world.

Thanks to all Tribal Youth Corps participants and our partners—Grand Teton National Park and Montana Conservation

Corps—for helping the Foundation make the 2017 program a huge success.

Our  decades-­‐‑deep  knowledge  of  the  valley  combined  with  the  international  reach  of  The  Clear  Creek  Group  makes  us  your  Local  Real  Estate  Experts.    The  JACKSON  HOLE  REPORT  is  published  semi-­‐‑annually  with  additional  email  updates  for  the  first  and  third  quarters.    While  other  realtors  attempt  to  report  on  our  market  with  MLS  statistics  only,  we  track  every  single  transaction  in  Teton  County.  Consider,   for   instance,   the  first  nine  months  of  2017:  only  68%  of  sales  prices  valley-­‐‑wide  have  been  reported  to  MLS;  in  contrast,  we  have  logged  information  on  each  and  every  sale  on  a  daily  basis.  Our  data-­‐‑driven  report  is  the  most  accurate  and  trusted  real  estate  news  source  in  Teton  County.    If  you   would   like   to   sign   up   for   these   quarterly   email   updates,   or   need  more   detailed   information   about   our  market,  please  contact  your  Clear  Creek  Group  agent  or  call  307-­‐‑732-­‐‑3400.  You  can  also  find  the  Jackson  Hole  Report  online  at  www.jacksonholereport.com.        Whether  you  are  pricing  your  property  to  sell  in  the  upcoming  winter  season  or  weighing  the  right  time  to  buy,  rest  assured   that  as  our  client,  you  will  have   the  upper  hand  with  access   to  current  market  statistics  and  an  impeccable  level  of  service  and  personal  attention.    If  you  would  like  to  sign  up  for  quarterly  email  updates,  or  need   more   detailed   information   about   our   local   real   estate   market,   or   planning   to   sell   this   winter,   please  contact  your  Clear  Creek  Group  agent  or  call  307-­‐‑732-­‐‑3400.    We  hope  this  report  has  given  you  a  snapshot  of  market  trends.    As  always,  we  would  be  glad  to  discuss  them  further  with  you.    Please   contact   your  Clear  Creek  Group  agent   if   you  plan   to   list   your  property   this  winter,  would  like  a  more  detailed  analysis  of  specific  areas  or  back  issues  of  JACKSON  HOLE  REPORT,  or  if  you  are  scouting  for  a  professional  Realtor  to  represent  you  in  your  next  real  estate  transaction.    We  look  forward  to  working  with  you.    Sincerely,  

     David  Viehman,  Associate  Broker  Devon  Viehman,  Associate  Broker  “2013  Wyoming  Realtor  of  the  Year”  “2018  President  -­‐‑  Wyoming  Association  of  Realtors”  Luke  Smith,  Sales  Associate  The  Clear  Creek  Group  The  Jackson  Hole  Report  toll-­‐‑free:  (855)690-­‐‑4004  direct:  (307)690-­‐‑4004  fax:  (855)722-­‐‑2023  www.JacksonHoleReport.com    *This  third-­‐‑quarter  report  is  not  posted  on  the  Jackson  Hole  Report  website.    Instead,  it  is  provided  exclusively  via  email,  as  a  service  to  all  our  valued  customers  and  clients  here  at  The  Clear  Creek  Group.    The  data  is  collected  and  analyzed  quarterly  to  help  you  keep  up  with  trends  in  our  market.                                                                                                                                                                                                                  *While  other  local  Real  Estate  Brokerages  attempt  to  report  on  the  local  real  estate  market,  we  are  the  only  Realtors  who  track  every  single  transaction.    Therefore,  if  you  want  the  most  accurate  information  to  help  guide  you  through  your  next  real  estate  transaction,  call  us  today.    We  are  the  Experts.                                                                                                                                                                                            *All  statistics  are  supplied  by  sources  that  have  been  deemed  reliable  but  are  not  guaranteed.                                                                                .  *All  statistics  quoted  in  this  newsletter  are  based  on  sales  in  2017  compared  to  sales  in  2016.                                                                        .  *Median  sale  price  is  the  cost  of  a  property  that  has  an  equal  number  of  sales  above  and  below  it  on  the  price  scale.                            .  *Average  sale  price  is  the  total  combined  dollar  volume  divided  by  the  number  of  sales.                                                                    .  *The  word  “Overall”  in  this  newsletter  refers  to  all  sales  in  Teton  County  combined  (homes,  lots,  condos,  commercial  and  ranch).      *Alta,  Wyoming  is  not  included  in  this  report.                                                                                                                                .  *The  term  “Market  Value”  means;  the  value  of  a  property  in  terms  of  what  it  can  be  sold  for  on  the  open  market;  current  value.    ©  Copyright  1995  -­‐‑  2017  by  David  Viehman  and  Devon  Viehman,  dba  The  Clear  Creek  Group.    All  rights  reserved.    No  part  of  this  publication  may  be  reproduced  or  transmitted  in  any  form  or  by  any  means  without  explicitly  written  permission  from  David  Viehman.