real estate
NEWS WEDNESDAY, AUGUST 28, 2024
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Pictured Above: The Mead Ranch occupies a prominent position near the center of the Jackson Hole valley within the Spring Gulch corridor. The ranch encompasses 265 acres of premier ranch land only minutes from the town of Jackson and features more than a mile of Spring Creek frontage, with priority water rights dating to 1898. Multiple potential configurations of this iconic ranch are currently available.
WYOMING RANCHES CAPTIVATE AND HELP CONSERVE THE WEST Large tracts offer multiple uses and help to define the region. by Staff Writers Western Wyoming’s ranching legacy is deeply entwined in the region’s enduring appeal. The area’s distinctive geography, defined chiefly in Jackson Hole by the iconic Teton Range and the surrounding wilderness, creates an unparalleled backdrop for ranching and enhances the recreational and aesthetic value of these properties. The limited supply of large, intact land parcels, combined with Jackson Hole’s status as a premier destination for outdoor enthusiasts and luxury travelers, continues to elevate the desirability and value of ranches within this unique locale. The hardscrabble existence of Jackson Hole’s original ranching community dates back almost a century and a half and remains an enduring legacy within the valley and its culture today. Famously self-proclaimed as “The Last of the Old West,” an increasingly smaller number of ranching families and conservationists strive to preserve both the land itself and that way of life through the valley’s continued evolution. “The Jackson Hole ranch market is unique in the Northern Rockies in that properties of 35-acres are considered ranches in Teton County, where the definition of a ranch elsewhere may not start until you are counting by hundreds or thousands of acres,” says Des Jennings, an associate broker with Jackson Hole Sotheby’s International Realty, regarding the need to distinguish between working ranches and large, luxury residential properties in Jackson Hole. Western Wyoming’s ranch real estate market
has demonstrated remarkable vitality in recent years. Jennings notes that, “there have been several landmark sales, public and private, that have pushed our ranch market to new heights in terms of price per acre for special properties with irreplaceable features such as live water, access to public lands and/or improvements that could not be built under current regulations. Many of the larger ranch sales in our region have been driven by a few buyers who are interested in assembling contiguous holdings within the past few years, and some of these properties are already being divided and offered for sale in new configurations.”
“There have been several landmark sales, public and private, that have pushed our ranch market to new heights... for special properties with irreplaceable features...” —Des Jennings Associate Broker Jackson Hole Sotheby’s International Realty
In recent years, a handful of notable ranch sales have transacted along the Gros Ventre River corridor and the eastern edge of the valley adjacent to the Bridger-Teton National Forest. These properties typically offered a more remote setting, and have included both traditional working ranches and long-standing guest ranches that have helped to define the character of the region over the course of decades. By way of comparison, a cluster of recent ranch sales south of Wilson have typically been more emblematic of the large residential parcel
definition of a Jackson Hole ranch. There, a sense of privacy afforded by the acreage itself—and often coupled with access to the Snake River or to adjacent federal lands—defines the property more so than ongoing traditional ranching land uses. Regardless of current or intended use, however, these recent transactions help to illustrate a continued strong market driven by demand for well-located, expansive properties that offer some combination of conservation, privacy, recreation, investment and lifestyle benefits. Conveniently located near the center of the Jackson Hole valley, the Mead Ranch occupies the southern end of Spring Gulch—the broad valley bordered by East and West Gros Ventre Buttes. This iconic ranch is located just outside of the town of Jackson and encompasses more than 265 acres that provide Teton views, in addition to more than a mile of Spring Creek frontage. The historic ranch, represented by Jennings, is one of Jackson Hole’s premier large tract properties and offers the next owner several possible configurations and a variety of uses. The Mead Ranch’s extensive value as a ranching and conservation property within a prime wildlife migration corridor is further enhanced by 1898 priority water rights. The appeal of a western ranch doesn’t belong to Teton County alone, of course. In the adjacent counties, Wyoming ranches offer their own mountain vistas, including the Salt River Range in Lincoln County, and the Wyoming Range and Wind River Range in Sublette County. While each county typically benefits from a more favorable overall inventory of available private land, premier ranch offerings in each still hold a strong value and represent a part of a deep and
See WYOMING RANCHES on page 6.