Market Update – November 22, 2015

Jackson Hole is still #1! … Forbes has once again (for the 5th year in a row) ranked Jackson Hole Mountain Resort as the best ski resort in the country. Grand Targhee was ranked #9, giving our area two of the top 10 resorts in the country!

Jackson Hole has something for everyone, and a recent publication indicates we are primed to meet the needs of the top 1%. A study by Wealth-X, a global authority on wealth intelligence, focused on Homes as Opportunity Gateways. A few key findings from the report bode well for the market in Jackson Hole. The first is that for many high net worth individuals, buying a second or third home is often motivated by lifestyle fit (for example, owning a residence near a ski resort, being on a golf course, or close to fly fishing). In addition to lifestyle, these individuals often buy for short and long term investment potential, to stabilize and diversify their traditional portfolios – in Wyoming, our tax climate makes owning property here an opportunistic purchase for many.

Along with the esthetic appeal of Jackson Hole, the State of Wyoming remains king for a business tax climate, a #1 ranking the state has held since 2012, according to the Tax Foundation’s 2016 study. This study analyzes 100 tax variables with each state’s tax code. The Wyoming Business Report goes on to say that the ranking has traditionally been high because the state does not tax personal or corporate income, largely because the energy economy pays most of the bills. The state mandated sales tax is only 4%, allowing purchases to stay local and enabling Wyoming companies to do business with one another without outsourcing.

The ski season is underway with Grand Targhee opening last weekend, and Jackson Hole Mountain Resort opening for it’s 50th season on Thanksgiving Day. One of Wyoming’s largest businesses and lifestyle allures is Jackson Hole Mountain Resort. Ranked #1 by Forbes for 2016 as previously noted, the resort’s 50th anniversary season offers a multitude of special events beginning with Flashback Friday which includes $6 all-day lift tickets priced as they were on the grand opening in 1965, opening of the new Teton Quad lift on December 19th, and other activities throughout the season.

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