Mountain towns may have seen less unit sales recently compared to the pandemic buying frenzy of 2020 and 2021, but demand for property near renowned resorts continues to drive price increases.
Across the 17 Mountain West resort communities analyzed by Jackson Hole Sotheby’s International Realty and its regional partners in their 2024 Resort Report, the average real estate sales price rose by 12.42% in 2023 compared to the year prior.
The rare opportunity to live near two iconic national parks and the top ski resort in North America drove the average sales price even higher in Jackson Hole, where it jumped by 18.2% year-over-year to more than $4 million. That figure trailed only Aspen, Colorado’s average sales price of more than $10 million.
Jackson Hole also broke into the top three of Mountain West resort communities in terms of its overall sales volume increase, which increased by 11.0% in 2023.
Inventory has been limited in mountain towns as potential sellers have been reluctant to re-enter the market amid higher interest rates. This has been particularly pronounced in Teton County, Wyoming, which has the added factor of being comprised of 97% undevelopable, public land.
With interest rate cuts seemingly on the horizon, we could soon see the number of sales in these areas increasing again along with these prices. If you are looking to buy or sell in Jackson Hole as this dynamic changes, please do not hesitate to contact us at jhpropertygroup@jhsir.com or (307) 739 8190 today.
You can browse figures from each of the 17 resort communities and read the full Resort Report below.
Average Sales Price
Aspen, CO ($10,564,012)
Jackson Hole, WY ($4,082,047)
Big Sky, MT ($3,094,775)
Telluride, CO ($3,512,487)
Snowmass Village, CO ($3,289,069)
Park City, UT ($2,601,167)
Vail & Beaver Creek, CO ($2,339,418)
Sun Valley, ID ($1,774,884)
North Lake Tahoe, CA & NV ($1,706,621)
Steamboat Springs, CO ($1,416,507)
Whitefish, MT ($1,381,850)
Breckenridge, CO ($1,291,349)
Crested Butte, CO ($1,058,741)
South Lake Tahoe, CA & NV ($1,030,732)
Winter Park, CO ($877,249)
Sandpoint, ID ($870,835)
Santa Fe, NM ($736,010)
Average Sale Price % Change
Park City, UT (+35.0%)
Big Sky, MT (+26.8%)
Sun Valley, ID (+23.0%)
Jackson Hole, WY (+18.2%)
Crested Butte, CO (+14.9%)
Telluride, CO (+12.2%)
Sandpoint, ID (+11.0%)
Whitefish, MT (+11.0%)
Vail & Beaver Creek, CO (+9.4%)
Steamboat Springs, CO (+4.3%)
Santa Fe, NM (+4.2%)
Aspen, CO (+3.2%)
Snowmass Village, CO (+0.4%)
Breckenridge, CO (+0.1%)
North Lake Tahoe, CA & NV (-1.6%)
Winter Park, CO (-2.6%)
South Lake Tahoe, CA & NV (-6.7%)
Total Sales Volume
Park City, UT ($3,358,850,448)
North Lake Tahoe, CA & NV ($2,141,809,437)
Vail & Beaver Creek, CO ($2,114,834,357)
Aspen, CO ($1,785,317,992)
Santa Fe, NM ($1,745,080,755)
Breckenridge, CO ($1,630,974,154)
Jackson Hole, WY ($938,870,785)
Steamboat Springs, CO ($858,403,434)
Sun Valley, ID ($731,252,229)
Telluride, CO ($667,372,535)
Winter Park, CO ($626,355,889)
South Lake Tahoe, CA & NV ($620,500,647)
Snowmass Village, CO ($592,032,500)
Big Sky, MT ($476,595,367)
Whitefish, MT ($418,700,840)
Crested Butte, CO ($401,263,146)
Sandpoint, ID ($386,115,898)
Total Sales Volume % Change
Snowmass Village, CO (+22.9%)
Sun Valley, ID (+11.9%)
Jackson Hole, WY (+11.0%)
Sandpoint, ID (-0.2%)
Crested Butte, CO (-0.6%)
Big Sky, MT (-2.9%)
Aspen, CO (-3.6%)
Breckenridge, CO (-7.2%)
Santa Fe, NM (-10.5%)
Park City, UT (-10.9%)
Whitefish, MT (-12.5%)
North Lake Tahoe, CA & NV (-12.7%)
Vail & Beaver Creek, CO (-13.0%)
Winter Park, CO (-15.7%)
Steamboat Springs, CO (-16.1%)
Telluride, CO (-19.1%)
South Lake Tahoe, CA & NV (-25.9%)
