Jackson Hole’s real estate market is off to a strong start in 2025. Compared to the first quarter of last year, the number of transactions has increased by approximately 11%, totaling 81 sales. This uptick was somewhat anticipated, as 2024 ended with a significant number of pending listings in the pipeline. The most notable surge occurred in the Town of Jackson, where sales rose by 60% year-over-year.
Average and median sale prices saw only modest shifts, down 5% and 2%, respectively. Meanwhile, more sellers appear to be entering the market ahead of the spring selling season—likely aiming to capitalize on limited competition. At quarter-end, active listings were up 8%, with 165 properties on the market. However, it’s worth noting that even with this increase, inventory remains historically low for Jackson.
The average days on market dropped by about 15% to 146 days, suggesting homes are selling more quickly than they did at this time last year. A 6% rise in pending listings further points to steady buyer demand. While national and global economic factors are expected to remain volatile throughout 2025, Jackson Hole has historically served as a safe haven from broader market fluctuations. Interest rates typically impact lower-priced properties, while the stock market more directly influences the luxury segment. Regardless of the direction the U.S. economy takes, Jackson Hole offers compelling long-term investment potential.
11%
5%
8%
5%
Subscribe to our newsletter and be on top of all things Jackson Hole real estate.
KWJH respects your privacy. No spam! Unsubscribe anytime.
The single-family home market in Jackson Hole saw a notable surge in activity during the first quarter of 2025, with 47% more transactions compared to the same period last year. The most significant growth occurred within the city limits of Jackson. The average sale price rose sharply—up approximately 33%year-over-year. However, this increase does not reflect general home price appreciation but rather the result of a higher concentration of luxury sales. In fact, nearly 75% of this year’s single-family home transactions have been above $5 million, compared to less than half in the same period last year.
Buyers currently have a broader selection to choose from, with inventory up more than 30% year-over-year. Homes that did sell moved more quickly, with the average days on market dropping nearly 20% to around 4.5 months. This suggests that the properties sold are being priced more appropriately for current market conditions and that buyer demand remains strong.
That said, today’s buyers are highly price-sensitive and expect to see clear value. Homes that are mispriced risk lingering on the market—evident in the fact that the average days on market for currently active listings is far higher, at over 7.5 months. Strategic pricing remains key in navigating this evolving market.
47%
33%
32%
20%
22%
36%
Condos and townhomes continue to be a popular segment of the Jackson Hole real estate market. Transaction volume saw a healthy 20% increase year-over-year, with approximately 31 sales. As is typical, the majority of these occurred within the city limits of Jackson. The average sale price rose significantly—up about 22%—with the median price reaching $1,200,000. This jump is largely attributed to a shift in the mix of sales: 2024 saw more activity at the lower end of the market, while 2025 has seen a higher concentration of luxury condo and townhome sales.
As noted in our 2024 Year-End Market Report, this segment had been the only one in Jackson Hole to show price depreciation since the 2021 peak. Inventory remained tight at the end of 2024, and that trend has continued into 2025, with 36% fewer active listings compared to the same time last year. This constrained supply, coupled with an increase in pending activity, suggests that prices in this segment have likely stabilized.
Given that condos and townhomes tend to be more sensitive to interest rate fluctuations, the recent softening in mortgage rates bodes well for continued stability. Rates have remained below 7% for twelve consecutive weeks through early April, and expectations of further reductions suggest this segment is well-positioned to remain strong as the year progresses.
Land transactions in the first quarter of 2025 have remained notably sparse, continuing a trend that has persisted over the past three years. The land market peaked in 2021, with 85% more transactions in the first quarter of that year compared to this year. Due to the low number of sales, both average and median pricing data are highly volatile and unreliable indicators of broader market conditions.
That said, there are still signs of activity. With eight pending land sales in the pipeline—already surpassing the number of closed sales in Q1—the market shows potential momentum. Inventory dipped slightly, with 36 parcels listed for sale at the end of the quarter. The average days on market declined by approximately 25%, now just under six months. However, it’s worth noting that parcels on the market exhibit a much higher average, currently sitting at over 10 months, highlighting the challenges in this segment.
Sellers looking to position their property competitively should be aware of how recent updates to the Natural Resource Overlay (NRO) regulations may impact what can—and can’t—be done with the land. These changes can influence a buyer’s vision for development, making it essential to market your property with clarity and foresight. Keller Williams Jackson Hole agents are well-versed in the latest land use policies and can help sellers navigate how to present their property in a way that aligns with current buyer expectations. For buyers, understanding local building considerations—such as permitting timelines, design requirements, and environmental factors—can unlock the full potential of a land purchase. Whether you’re buying or selling, expert guidance makes all the difference.
38%
25%
10%
67%
34%
36%
Jackson Hole’s real estate market has become virtually synonymous with luxury. Properties priced above $5 million remain in high demand, and 2025 began with a strong uptick in activity—luxury sales rose approximately 67% year-over-year. The average sale price for luxury properties declined by about 34%. This drop is not indicative of market weakness but rather a shift in the mix of sales: 2024 saw an unusually high number of ultra-luxury transactions exceeding $20 million, while most of the sales so far in 2025 have been in the $5–8 million range.
The most notable transaction of the year to date is a property listed for $31,500,000 in Lake Creek Ranch. The sale includes 4.53 acres along Lake Creek, a nearly 10,000-square-foot log home, and private access to the Snake River.
As reported throughout 2024, the luxury segment remains saturated. At the end of the first quarter, over 60 properties priced above $5 million were on the market, marking a 36% increase from a year ago. Pending listings are holding steady compared to last year, and the average days on market dropped about 17% to 153 days, signaling ongoing buyer interest.
The luxury segment in Jackson Hole tends to be influenced by stock market trends. Recent volatility has shaken financial markets, and it remains to be seen how this will impact high-end buyer and seller behavior in the coming months. One thing is for sure: Jackson Hole continues to attract discerning buyers looking for long-term value, lifestyle, and legacy.
Let our experts guide you through entire buying and selling process, helping you feel informed and prepared.
Get in touch with us today and discover the current market trends, giving you the tools to make your Jackson Hole dreams come true.
A Peak CRTVE Web Design
Copyright ©2024. Keller Williams Jackson Hole. All Rights Reserved.
