Q3 2025 Jackson Hole Real Estate Report by Engel & Völkers Jackson Hole, WY

120 ACRES IN SOUTH PARK RANCH OFFERED AT $33,500,000

Data-DrivenRealEstateReportforQuarter3,2025 Q3 2025

Record Sales and Robust Luxury Demand

While the last three years saw a decline in sales compared to the COVID-era boom, 2025 appears to have turned the corner. Sales are up across all property categories, with many transactions setting new all-time sale price records for the third quarter. Even with increased inventory, Jackson Hole continues to buck the national trend, demonstrating resilience in a market where many other regions are slowing.

Interest rates do not appear to be a limiting factor because 69% of all transactions were closed with cash. This raises an interesting question: Is Jackson Hole becoming a refuge from the turbulence affecting other parts of the country, or is the strength of the stock market allowing more Buyers to retire early and invest in second homes?

The segment showing the greatest growth in both sales and listings is the Luxury market which includes single-family homes over $10 million and condo/townhomes and vacant lots over $5 million. These high-end properties are driving much of the overall market momentum and contributing significantly to dollar volume growth.

Whatever the reason, the message is clear: If you’ve been considering owning property in Jackson Hole, now is the time to act. Strong demand, record prices, and limited inventory in key segments mean that well-priced properties are selling quickly, making it a prime market for both Buyers and Sellers.

DATA-DRIVEN REPORT FOR THE FIRST NINE MONTHS OF 2025

The Jackson Hole Report is the oldest, most accurate, and comprehensive real estate market report in Teton County, WY Our statistics are derived from a privately maintained database that tracks every single sale not just those reported through Multiple Listing Service (MLS) Notably, in 2025, only 63% of sale prices valley-wide were reported to MLS, highlighting the value of our complete, data-driven reporting the market for more than a year, 51 have been on for more than two years, and 32 have been on for over three years.

The Bottom Line: Why You Need an Expert

If there’s one thing 30 years of market history has taught us, it’s that Jackson Hole real estate is anything but simple. Inventory is limited, pricing is nuanced, and the best opportunities often never hit the public market. Whether you are buying or selling, you need someone who knows the numbers, the history, and the players That’s where we come in.

Call us today. Let’s talk about your goals, your property, and how we can help you succeed in Jackson Hole’s one-of-a-kind market. No one knows it better.

Overall Market

For the first nine months of 2025, the overall numberofsalesincreased23%to317, while total dollarvolumerose39%to$1.475billion.

Averageandmediansalepricesalsowentup13% ($4.65 million) and 9% ($3.25 million), respectively.

The most active segment was $1–$2 million, accounting for 95 sales (30%), including 52 condo/townhometransactions.

High-end activity was strong, with sales above $5 millionand$10millionbothup82%.

Notably, only one of the 130 single-family home salesoccurredunder$1million.

MEDIANSALEPRICEVS AVERAGESALEPRICE

The average sale price is calculated by adding all the sale prices for homes sold in a specific area within a specified time frame and dividing that total by the numberofpropertiessold.

Themediansaleprice,ontheotherhand, is the sale price in the middle of the data set after arranging all the sale prices fromlowtohigh.

The median sale price, then, represents the figure at which half of the properties in the area sell at a higher price and the otherhalfatalowerprice.

The number of properties under contract remains steady at 55, but dollar volume increased 19% to $204 million Average and median list prices under contract are up 19% ($3 72 million) and 15% ($2 75 million), respectively Current under-contract inventory is concentrated in the $1–$3 million range (43%) Meanwhile, only 15% are listed under $1 million, 17% are listed between $3–$5 million, and 25% are listed over $5 million

Active inventory grew 21% year over year to 301 listings, with the average listing price up 9% to $7.02 million. All price segments saw inventory increases compared to Q3 2024. Entry-level availability remains extremely limited:

No homes are currently listed under $1 million, and only 14 are under $2 million. As we move into the fall and winter selling seasons, inventory is expected to decline steadily until spring 2026.

As a courtesy to our valued clients, Engel & Völkers Jackson Hole offers a confidential market analysis of your distinctive Jackson Hole property. In addition, we provide annual valuation updates to assist with trust and estate planning. If you own a luxury property in Jackson Hole and would like to receive your complimentary evaluation, please scan the code below or email us today

FEATURED LISTING

JACKSON, WY

StepintoapieceofJacksonHole'shistorywiththis remarkable120-acreproperty,availableforthefirsttimein 128years Originallyhomesteadedbyearlypioneers SylvesterandMaryWilson,thislandisrichinheritageand offersanunparalleledopportunityforthediscerningbuyer InNovember1889,SylvesterandMary,alongsideleaderNick Wilsonandtheirparty,spenttwoarduousweekscutting treesandbuildingarudimentarytrailtodescendthemoderndayTetonPass.TheirarrivalinwhatisnowWilson,WY, doubledthepopulationofthearea,whichwasonly28people atthetime Thispropertyispartoftheiroriginalhomestead, dividednowintothreedeededpropertiesof40acres The SouthParkparcelsboastsignificanthistoricallandmarks, includingtheremainsofJacksonHole'sfirstschoolhouse builtin1895,whichservedthecommunityuntil1907.

Thisiconicpropertyremainsinthefamilytothisdayandis usedforcattlegrazingandhayproduction,preservingits richagriculturallegacy Thepropertyfeaturesstunning, unobstructedviewsofthemajesticTetonRange,makingit anideallocationformultiplehomesites Aseasonalirrigation ditchrunsthroughtheproperty,enhancingitsagricultural potentialandaddingtoitsnaturalbeauty.

Locatedjusta10-minutedrivefromtheTownSquare,this uniquepropertyoffersaonce-in-a-lifetimeopportunityto ownaniconicpieceofJacksonHole'shistory

MLS# 25-1342

LIST PRICE: $33,500,000

ENGEL & VOLKERS JACKSON HOLE

SOUTH PARK RANCH

Single Family Homes

Single-family home sales are up 7% compared to the first nine months of 2024.

Average and median sale prices reached record highs, rising 17% to $6.2 million and 28% to $4 million, respectively.

Over half of sales (64%) occurred in the $3+ million segment (83 sales), while available inventory increases were primarily concentrated in the $10+ million range, limiting stabilization of overall market values.

The most active price range for single-family homes continues to be $1–$3 million, accounting for 46 sales (31%).

Entry-level homes under $1 million remain scarce, with only one sale so far this year.

Hot Sale Areas: The Town of Jackson and the Westbank led the market with 42 and 39 home sales, respectively

Homes under contract are up 16% year over year The 29 properties under contract range from $995,000 to over $16 million, with average and median asking prices increasing 8% and 5%, respectively

Available inventory is up 18%, with total dollar volume increasing 31% Average and median list prices again set new records at $9 86 million (up 11%) and $5 75 million (up 1%), respectively Inventory under $1 million is effectively nonexistent, while listings in the $1–$2 million range are up slightly and the $10+ million segment is up 34% (47 listings).

Summary: Inventory is increasing, mainly at the upper end, while market values continue to rise across all segments. We consider this a Seller’s market. Sellers should ensure competitive pricing while Buyers should be prepared to move quickly; well-priced properties are selling fast.

If you are planning to sell your Jackson Hole property this winter or want guidance on competing in this Seller’s market, please call for a free comparative market analysis or email jacksonhole@evrealestate.com.

Currently, the least expensive single-family home, located in Moran, is listed for $1.095 million. The .66-acre parcel features a 2,606 sq. ft., three-bedroom, three-anda-half-bath home built in 1992. .

The most expensive home, located South of Wilson, is listed for $60 million. The main home, built in 2023, has 10,440 sq. ft. with six bedrooms and seven baths. Designed by renowned architect Wallace Cunningham, this living sculpture sits on 36.14 acres with Fish Creek and the Snake River running through.

ENGEL & VÖLKERS JACKSON HOLE | A HIGHER STANDARD.

Every person who is part of Engel & Völkers has an ethos of leadership and commitment to care. When you decide to work with an advisor, they'll be your partner in providing an unforgettable experience throughout the sale of your home

The Jackson Hole Report is the most widely distributed and anticipated quarterly newsletter in Jackson Hole. To guarantee the most successful outcome in your next real estate transaction, call us today.

Condos & Townhomes

Condo and townhome sales are up 31% compared to the first nine months of 2024 Following suit, the average and median sale prices increased 29% and 16%, respectively

Notably, no sales have occurred under $500,000 so far in 2025, effectively closing the entry-level window Nearly half of all activity (45%) occurred in the $1–$2 million segment, while sales above $3 million increased 60% (24 sales)

The primary sales hot spot remains the $1–$2 million range with 52 transactions 52% of which were in the Town of Jackson Of the 115 total condo sales in 2025, the Town of Jackson accounted for 50% followed by the Westbank at 29%

The hot spot was the Town of Jackson with 52 sales which accounted for 52% of the sales valley-wide

The number of condos and townhomes under contract is down 21% compared to the first three quarters of 2024 The median list price decreased 7% to $1 395 million, while the average list price rose 15% to $2 561 million Demand remains strongest for condos under $1 million; however, with only 16 listings in this range (20% of total inventory), supply is tight At the current sales pace, this entry-level inventory will last approximately six months

Overall inventory of condos and townhomes is up 12% year to date. Average and median list prices also reached new highs, increasing 4% and 17%, respectively.

CURRENT INVENTORY BREAKDOWN

Summary:Inventoryisrising,withstrong demandconcentratedunder$1million Sellersshouldensurecompetitive pricingandprofessionalpresentation, whileBuyers,especiallyintheentry-level segments,shouldbepreparedfor competitionandpotentialbiddingwars.

ENGEL & VÖLKERS JACKSON HOLE | A HIGHER STANDARD.

Vacant Land

Single-family vacant lot sales have surged 34% in 2025 compared to the first nine months of 2024. Both average and median sale prices have increased sharply, rising 71% to $4.18 million and 44% to $2.3 million, respectively. This escalation is largely driven by the Luxury segment, with sales over $5 million up 333%, indicating that high-end transactions are disproportionately influencing overall market trends.

Despite this increase in sales activity, the number of single-family vacant lots under contract remains unchanged from this time last year. As in 2024, it represents the thirdlowest number of contracts at the end of Q3 in the past 40 years.

This slowdown is directly linked to constrained inventory under $1 million and today’s elevated pricing. At the end of Q3 2020, there were 29 active listings below $1 million.

Today, Buyers have only eight options in that range. Meanwhile, the median list price has doubled over the past five years, rising from $1.075 million in 2020 to $2.15 million today, effectively pricing many potential second homeowners out of the market.

The 2025 hot spot for single-family vacant land sales is North of Jackson with eight sales

Average sale price - $4 182 million

Median sale price - $2 3 million

Average price under contract - $5 43 million

Available inventory of listed lots in Q3 2025 increased slightly, up 7% year over year, while the average list price declined 19%. At the current sales pace, the existing supply of single-family vacant land represents roughly 12 months of absorption. From a historical perspective, this figure underscores persistent scarcity: at the end of Q3, inventory remains the third-lowest ever recorded in the past four decades. The combination of declining list prices and constrained availability suggests that while some price relief is emerging, long-term supply constraints continue to define market dynamics

Vacant Residential Land record breakers at the end of Q3:

AVERAGESALE PRICE $4.182M MEDIANSALE PRICE $2.3M

AVERAGEPRICE UNDER CONTRACT $5.43M

ENGEL & VÖLKERS JACKSON HOLE | A HIGHER STANDARD.

COMMUNITY HOUSING FUND

CREATING AFFORDABLE HOUSING

OPPORTUNITIES FOR TETON COUNTY’S ESSENTIAL EMPLOYEES.

TheTetonBoardofREALTORS®Community HousingFundallowseveryagentandsellerto designateproceedsoraportionoftheir commissiontofundaffordablehousinginTeton Countyateverytransaction.

Withconcernabouttherapidlychanging characterofJacksonHoleandtheabilityfor essentialemployeestoaffordstable,secure housing,DevonViehmanpartneredwiththeTeton BoardofREALTORS®tocreateTheCommunity HousingFund.TheTBORCommunityHousing Fundallowseveryagentandsellertodesignate proceedsoraportionoftheircommissiontofund affordablehousinginTetonCountyatevery transaction

Learnmoreatcommunityhousingfund.com.

$791,048 RAISEDTODATE

TCSD HOUSING PROJECT

TETON COUNTY IDAHO JOINT HOUSING AUTHORITY

JACKSON HOLE COMMUNITY HOUSING TRUST

With you at every stage

Whether you're a first-time home seller or this is another move within your property journey, find expert tips and insights on preparing, staging, and selling your home

Your Home's Unique Value.

Our local Engel & Völkers advisors are highly skilled in evaluating every detail of a property alongside market trends to most accurately determine the right pricing and selling strategy for your home If you ’ re curious about your property's value today and perhaps in the future, we ’ re here to help

The JACKSON HOLE REPORT is published semi-annually with additional email updates for the first and third quarters While other Realtors attempt to report on our local market with MLS statistics only (MLS historically tracks 65-70% of the market), we track every single transaction in Teton County This data-driven report is the oldest, most accurate and trusted real estate news source in Teton County, Wyoming. We are your “True North” of valley real estate reporting. If you would like to sign up for our emails and receive current information about the Jackson Hole Real Estate Market, email jacksonhole@evrealestate.com.

We hope this report has given you a snapshot of market trends and, as always, we would be glad to discuss the details with you If you would like a complete analysis of specific areas, back issues of the Jackson Hole Report

Sincerely,

The Advisors at Engel & Völkers Jackson Hoel

*WhileotherlocalRealEstateBrokersattempttoreportonthelocalrealestatemarket,wearetheonlyonestotrackeverysingletransaction Therefore,ifyouwantthemost accurateinformationtohelpguideyouthroughyournextrealestatetransaction,pleasecallDavid,DevonandLuketoday “WearetheExperts”

*Allstatisticsaresuppliedbysourcesthathavebeendeemedreliablebutarenotguaranteed

*Allstatisticsquotedinthisnewsletterarebasedonsalesin2025comparedtosalesin2024

*Mediansalepriceisthecostofapropertythathasanequalnumberofsalesaboveandbelowitonthepricescale

*Averagesalepriceisthetotalcombineddollarvolumedividedbythenumberofsales

*Inthisreport,“overall”referstoallsalesinTetonCountycombined(homes,lots,condos,commercial,andranch),notincludingAlta,WY.*Theterm“MarketValue”meansthe valueofpropertyintermsofwhatitcanbesoldforontheopenmarket;currentvalue