Teton Valley closed out 2025 with steady transaction activity and notable price appreciation compared to 2024. Total sales edged up 2% year over year, rising from 558 to 570 transactions. While unit volume remained relatively flat, pricing strength drove meaningful gains across key metrics.
Average sale price climbed 36% to $925,798, while the median sale price rose 32% to $559,000. Total dollar volume increased sharply, jumping 39% to over $527M, a clear indication that higher-end transactions played a meaningful role in shaping quarterly performance. This trend is underscored by a dramatic rise in luxury activity (sales of $3M or more). In 2024, Teton Valley recorded just 11 luxury transactions, including 9 residential and 2 land or ranch sales. By contrast, 2025 saw a substantial surge to 31 luxury transactions, comprised of 21 residential properties, 8 farm and ranch sales, and 2 land transactions, representing a remarkable 282% increase in overall luxury market activity.
Looking ahead to 2026, Grand Targhee has commenced with their “on mountain” development projects, such as Confluence Properties at Grand Targhee, which are poised to further influence Teton Valley’s upper-end market. As the first-ever residential ownership opportunity at Grand Targhee Resort, Confluence introduces a limited collection of 22 luxury Coldsmoke Cabins, with initial residences priced between $5.7M and $6.7M and scheduled for occupancy in Spring 2026.
This long-awaited and highly anticipated development is expected to attract additional destination buyers seeking turnkey mountain living directly tied to resort amenities. Given the already significant rise in luxury transactions across Teton Valley in 2025, Confluence represents a meaningful addition to the ski and summer resort influenced market that will likely support continued price strength while reinforcing the valley’s growing appeal as a premium resort residential destination.
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Single-family homes were a standout performer in 2025, with sales increasing 13% year over year, from 165 to 187 closings. Pricing momentum remained strong, with the average sale price rising 29% to over $1.6M and the median increasing over 20% to $1,125,000. The vast majority of sales took place in the Victor and Driggs areas, with only 6 sales in the Alta, WY area.
Total dollar volume jumped an impressive 46%, reaching $302M, reflecting both increased activity and higher price points. The single-family luxury segment (homes priced at $3M or more) experienced a dramatic surge from 2024 to 2025. In 2024, just 9 luxury homes sold, compared to 20 transactions in 2025, representing a 122% increase year over year.
Active listings grew slightly (+8%), while pending listings were flat. Days on market increased meaningfully from 115 to 139 days, suggesting buyers are taking more time despite elevated pricing.
Notably, the lowest home sale more than doubled to $439,000, while the highest sale reached $7.75M, a stunning home in Alta, Wyoming on over 6 acres, reinforcing the continued influence of upper-end properties on overall market statistics.
The condo and townhome segment saw substantial growth in transaction volume, with sales jumping 75% year over year, from 53 to 93 closings. Much of this growth came from the Driggs area where numerous new condo and townhome developments have come to completion. Active listings remained unchanged from last year at 31 units. Based on 2025 sales activity, this equates to an average of 7.75 sales per month and approximately four months of inventory, indicating continued demand despite increasing buyer selectivity.
However, pricing softened modestly, with the average sale price down 5% and the median declining 9% to $527,000. Despite these price adjustments, total dollar volume increased 61% to $49.5M, driven primarily by the sharp rise in unit sales. This points to stronger activity in more attainable price ranges, even as buyers remain value conscious. As construction costs continue to increase, townhomes and condos are able to weather the storm by reducing construction costs via single roof systems, scalability and infrastructure. This affords developers more flexibility in pricing.
Vacant land activity slowed in 2025, with sales declining 17% year over year, from 326 to 272 transactions. Even so, pricing told a different story, as average land prices surged 45% to $573,291 while the median rose 11% to$250,000. Total dollar volume still climbed 21% to $155.9M, signaling that fewer but higher-priced parcels dominated the quarter. These metrics were undoubtedly influenced by the valley’s highest sale of the year, a $9M ranch encompassing approximately 1,000 acres.
This pricing strength was driven in part by a sharp increase in luxury land sales. In 2024, only two parcels closed above $3M, compared to ten such transactions in 2025, a substantial shift toward higher-end properties that helped elevate overall market metrics.
Active listings dipped slightly, pending listings fell 20%, and average days on market improved modestly to 166 days. The highest land sale reached $9M, nearly triple 2024’s top land sale, underscoring continued demand for premium parcels despite reduced overall transaction volume.
Teton Valley, Idaho (Driggs, Victor, and Tetonia) continues to function as the commercial extension of the Jackson, Wyoming economy, supported by sustained population growth and structurally low unemployment. According to the Idaho Department of Labor approximately 22.4% of Teton County, Idaho residents work in Jackson, Wyoming reinforcing cross-market income stability and commuter-driven demand. Over the past decade, peak July traffic counts have increased more than 50% along both Highway 33 and Teton Pass corridors, further validating retail visibility and corridor-based commercial fundamentals.
From an investment standpoint, the market remains supply-constrained, particularly in small-bay industrial and flex product, where Jackson-based businesses continue relocating west in search of cost-efficient space. Demand consistently outpaces available inventory, supporting rent stability and long-term value preservation. Additionally, older commercial buildings are increasingly being acquired by developers and local capital for repositioning to their highest and best use under current zoning. Legacy retail, office, and industrial structures are being renovated, expanded, or redeveloped into mixed-use and modern flex formats aligned with current tenant demand. This adaptive reinvestment, combined with limited new supply, reinforces Teton Valley’s position as a resilient, scarcity-driven mountain submarket with durable long-term fundamentals.
