Jackson Hole Market Report

Single-family homes continue to be the clear leader of the Jackson Hole market, carrying the greatest share of demand for several years. Through the third quarter, sales were up a significant 23% year over year. The Town of Jackson recorded the most home sales, but two areas stood out for their remarkable growth: the area around the airport stretching north through Moran, where sales increased 133%, and the southernmost portion of Teton County, including Hoback Junction and the Snake River Sporting Club, where sales increased 300%.

The average sale price was down 20% from last year, but this does not indicate a broad decline in property values. Rather, the change reflects a different mix of sales this year, with more transactions concentrated below $3 million. In fact, sales under $3 million accounted for approximately 42% of all single-family transactions through the third quarter.

Inventory has also tightened as the pace of new listings slowed following a strong summer selling season. By the end of the third quarter, just 118 homes were actively listed, a 17% decrease from the same time last year.

Homes are taking longer to sell compared to last year. The average days a home was on the market increased 16% to 145 days. The average home sold at about 90% of its original listing price. This gap widened the longer a home was on the market.

As we move toward year-end, the key question will be whether sales can maintain their current pace. Pending sales were down 58% at the close of the third quarter, leaving fewer transactions in the pipeline and potentially pointing to a quieter finish to the year.

Condos and townhomes continue to face a more challenging market than other segments following the post-pandemic peak in 2022. Higher interest rates and affordability pressures have kept transaction activity below recent years, with sales through the third quarter down about 8% from 2025. That said, the trend has improved considerably since mid-year, when sales were down 25%, suggesting buyer activity is gradually gaining momentum. Pending transactions at quarter-end were also in line with last year, pointing to a year-end market that could finish relatively close to 2025. With interest rates spiking in recent weeks, it will be interesting to see if this segment can maintain its momentum.

Average and median sale prices were lower than last year, but the decline appears to be driven more by the composition of sales and not price depreciation. Nearly three-quarters of transactions were below $2 million. Values were particularly strong for newer construction and thoughtfully updated properties. Teton Village saw a notable rebound, with its share of condo and townhome sales up 175% from a slower 2025. As the market enters the final quarter, however, buyers will have fewer options: active inventory is down nearly 30% year over year, with just 46 listings available at quarter-end.

Like the ecosystem of Grand Teton National Park, the vacant land market in Jackson Hole is remarkably diverse. The landscape of sales ranges from small downtown parcels to expansive ranch properties in South Park, resort-focused sites in Shooting Star, and rural homesites near Moran. Through the third quarter, the segment remained active, with land sales up about 17% from a year ago. No one particular area had any standout activity, rather, sales were consistent across the valley.

The average sale price, however, requires some context. A 120-acre property along South Park Loop Road listed for $33.5 million significantly skews the average. In fact, this was the highest reported sale in Jackson Hole so far this year. Looking beyond that outlier provides a more representative view of the market. Heading into the final quarter, the land segment appears steady, with active inventory essentially unchanged from a year ago and two more properties pending, suggesting continued, measured demand for land across the valley.

Jackson Hole’s luxury market is a lot like the lifestyle itself: distinctive, highly sought-after, and not something that can be rushed. The luxury market has remained stable through the third quarter, with just two fewer transactions than the same period last year. One of the standout areas has been the corridor south of Jackson to the Snake River Bridge, which saw a notable increase in activity and accounted for five of the ten highest sales in Jackson Hole so far this year. This includes the overall highest sale of the year, a 120-acre ranch parcel listed at $33.5 million, as well as properties in neighborhoods such as 3 Creek Ranch and Ely Springs. Despite the high-end activity, average and median sale prices have remained relatively stable.

Luxury inventory, meanwhile, is down about 15% from a year ago, with just over 90 active listings. While that may seem like a substantial amount of inventory relative to the number of transactions, a longer marketing period is characteristic of this segment. Luxury sellers are often under less pressure to sell and may be willing to wait for the right buyer, while the highly distinctive nature and price point of these properties naturally limits the pool of qualified buyers. As a result, luxury properties continue to have the longest marketing times in the Jackson Hole market, averaging 188 days, an 18% increase from a year ago. The combination of steady sales, fewer listings, and longer marketing periods points to a luxury market that remains selective rather than slow.