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Home › Market Reports › Jackson Hole Market Report | Quarter 1 2024

Jackson Hole Market Report | Quarter 1 2024

Q1 2024 | Year Over Year

Market Overview
Single Family Homes
Condos & Townhomes
Land & Ranches
Welcome to our Q1 2024 Jackson Hole Market Report! Our local team has pulled and analyzed the following data, providing insight not only on the past year but historical data that helps identify local trends in the market. For a deeper insight into these numbers, our local team here at Keller Williams Jackson Hole is always available to discuss.

Market Overview

Number of Sales

73

-5%

Average Sale Price

$5,264,270

+33%

153

+20%

Total Dollar Volume

$383,238,830

+24%

As we approach the spring and summer selling season, I’ll be watching new listings closely. As long as inventory continues to be scarce, I don’t see prices budging. We’re still seeing huge demand for quality properties priced appropriately. I believe many segments may continue to rise as more buyers who’ve been waiting for rates to come down realize that isn’t happening anytime soon and don’t want to wait any longer. There’s definitely less competition now than if rates lower, so buying now is probably a better option while there may be some negotiation happening on the seller’s end.
Rebekkah Kelley, Associate Broker

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Single Family Homes

Number of Sales

25

-39%

Average Sale Price

$6,672,673

+18%

57

+16%

The home market in Jackson Hole has remained steady, but with modest velocity. Compared to a year ago, home transaction numbers are down 39% and the average sales price is up 18%. Both metrics are significant YOY. This can occur because the amount of inventory is relatively low, but the demand remains strong relative to available inventory, and this has kept values high. The crystal ball indicates status quo moving forward, but watch interest rates closely because that could affect affordability and pricing into the future.
Bomber Bryan, Associate Broker

Condos & Townhomes

Number of Sales

26

+28%

Average Sale Price

$1,429,143

-39%

42

+62%

The condo market inventory remains low. Sellers interested in closing relatively soon should consider positioning their property more aggressively based on price as Buyers continue to be patient.
Ian Osler, Associate Broker

Land & Ranches

Number of Sales

10

+10%

Average Sale Price

$3,341,346

+137%

40

-5%

Due to increased construction costs and interest rates, cash and 1031 exchange buyers currently have a great opportunity to make smart investments in today’s vacant land market.
Diana Dragancea, Associate Broker

Number of Sales

16

+16%

Average Sale Price

$17,535,417

+42%

45
–
The luxury market remains quite strong and sees no sign of letting up. There is an influx of luxury buyers searching for their perfect property and they are being quite selective in style, size, amenities, and location. It is a seller’s market and if their property is priced showing perceived value to the buyer, it will be snatched up immediately.
Dianne Budge, Associate Broker

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