Real estate continues to become an ever bigger part of the story in Jackson Hole, even if the real estate being sold isn’t in Jackson Hole proper.
The action, reports columnist Jonathan Schechter, has moved out to the exurbs in adjoining Lincoln County but even more so on the west side of the Teton Range, in Idaho.
The Multiple Listing Service of residential properties during the last two years has expanded by a third, from 1,800 to 2,700 properties, reports Schechter. But while the number of listings in Jackson Hole itself has dropped, the number of listings in Teton County, Idaho, has increased 64 percent.
Schechter also notes that this shift has become glaringly apparent in the advertising found in the Jackson Hole News&Guide. Not only is real estate advertising becoming more dominant, but particularly so for real estate outside Jackson Hole.
It is to the point that in Jackson, real estate is dominating the valley’s economy.
“Today,” he says, “real estate and development are to the greater Teton area what entertainment is to Hollywood or finance is to New York.”
He sees the real estate market continuing to thrive, even as wildlife habitat, economic diversity and small-town atmosphere suffer.
By Allen Best