Think the real estate slowdown has lowered the bar of entry into tony resort towns like Jackson, Wyo.? Think again. While the market is starting to see some cracks—according to the mid-year market report from Jackson Hole Real Estate and Appraisal, sales were down for the first half of the year and some 21 percent of sellers have reduced their asking prices—the median home price is still $1.2 million, and median lot prices top $1.6 million. The least expensive single-family home on the market in Jackson? A 20-year-old, 1,100 square foot fixer-upper for $599,000.

One way to gain entry to this market for less is to join a destination club.
Clubs including Exclusive Resorts, Abercrombie & Kent Residence Club, Quintess, LRW, Ultimate Escapes and the Lusso Collection all have homes in the Jackson area, with most residences in the town of Teton Village, near the Jackson Hole Mountain Resort.

Another option is to look west, just over the border to Idaho’s Teton Valley, about 30 miles from Jackson. As Jackson’s real estate market has boomed, so have the towns of Victor, Driggs and Tetonia. These Teton Valley towns have attracted more vacation home buyers, some priced out of Jackson, seeking lower real estate prices along with larger parcels of land.

Developers have also flocked to this area, building golf course communities and developments with acreage that simply aren’t available in the town of Jackson. Many communities are also close to the Grand Targhee Ski Resort.

River Rim Ranch, a 5,400-acre development near Tetonia has both home sites and cabins for sale. Prices start at just under $300,000 for land. There is also a Greg Norman-designed golf course in the works. Huntsman Springs is completing its golf course this summer and will have 12 homes built by the end of the year; prices start at just under $200,000. Horseshow Meadows, near Driggs, has home sites ranging from 3.1 acres to more than nine acres, with prices beginning at less than $300,000, while Spring Hollow Ranch in Tetonia has home sites ranging from six to 31 acres. Prices top out at $495,000.

There are also two golf communities near Victor, on the south end of Teton Valley. Teton Reserve has both home sites and cabins. Residences start at $799,000. The Teton Springs community has whole ownership residences and fractional properties at their Residence Club, one of the few shared ownership options in the area. One-sixth shares of three-bedroom units start at $325,000.

Learn more about joining a destination club by downloading our Decision Guide.

Readers, weigh in. Are there other up and coming locations for vacation home buyers that offer better real estate value?