MARKET REPORT
Q3 2025 • JACKSON HOLE
MARKET REPORT
Q3 • THE JACKSON HOLE MARKET
The Q3 2025 Jackson Hole real estate market reflected renewed momentum across most property types, marking a quarter of steady expansion and selective recovery following a slower start to the year. While performance varied by segment, overall transaction activity rose and total dollar volume strengthened, underscoring the region’s enduring appeal amid evolving buyer and seller dynamics.
The single-family home segment showed stable yet selective movement this quarter, with transactions down 4% to 104 sales, while total dollar volume rose 17% to $604.9 million. The average sale price climbed 21% to $5.71 million, and the median sale price increased 12% to $3.36 million, highlighting continued buyer competition and price resilience across key Jackson Hole submarkets such as West of Snake, South of Wilson, and North of Gros Ventre Junction.
Condominiums and townhomes outperformed expectations, particularly in central and resortadjacent areas. Sales rose by more than 22% across several zones, while total dollar volume grew over 22%. Average and median prices strengthened in tandem, with faster turnover and competitive conditions among listings under $3M. This segment continued to attract buyers seeking lifestyle properties and lower maintenance options, benefiting from sustained demand from regional and secondhome purchasers.
The land market rebounded modestly, reversing last quarter’s cooling trend. While transaction volume increased in select areas such as South Park and Wilson, the total number of land sales remained relatively stable. The average sale price climbed to
$6.9M—up sharply from $3.1M a year prior—driven by a small number of high-value parcels and diminishing availability of developable acreage. However, rising construction costs and longer permitting timelines continued to temper broader land activity.
In the luxury segment, defined as properties priced above $5 million, market performance reflected renewed strength at the top end. Transactions increased 15% to 45 sales, while total dollar volume rose 19% to $517.6 million, driven by several highvalue estate closings across Teton Village and West Bank. The median sale price surged 39% to $10.43 million, marking one of the strongest quarterly gains in recent years. Meanwhile, active listings grew 3% to 111, signaling steady seller confidence and expanded choice heading into Q4.
Commercial properties saw limited movement, with just a handful of transactions recorded but notable price resilience in mid-tier assets. Although the overall number of sales remained low, average prices edged higher—supported by continued investor interest in mixed-use and downtown redevelopment opportunities.
Overall, Q3 2025 underscored Jackson Hole’s stability and adaptability across market cycles. Residential segments showed meaningful volume recovery and healthy pricing trends, while the land and luxury categories displayed selective strength. As the region transitions toward year-end, a balanced mix of demand, new inventory, and long-term confidence continues to define the Jackson Hole market heading into Q4 2025.
$1.2B
TOTAL DOLLAR VOLUME 29% INCREASE YOY
AVG SFH SALES PRICE 20% INCREASE YOY $5.7M
MEDIAN SFH SALES PRICE 12% INCREASE YOY $3.4M
258
TOTAL TRANSACTIONS 16% INCREASE YOY
354
ACTIVE LISTINGS 20% INCREASE YOY
With many sales occurring outside of the MLS (Multiple-List Service), it is important to manually track ALL Teton County real estate sales. Typically, it is the higher-end sales that go unreported, vastly skewing the accuracy of MLS data alone. Our market report accounts for all sales, providing a comprehensive overview and deeper insight into the market.
TRANSACTION DISTRIBUTION BY LOCATION
TETON VILLAGE (24) - MLS AREA 1
TETON PINES (14) - MLS AREA 2
NORTH OF WILSON (16) - MLS AREA 3
SOUTH OF WILSON (14) - MLS AREA 4
SKYLINE RANCH TO SAGEBRUSH DRIVE (23) - MLS AREA 5
EAST GROS VENTRE BUTTE (4) - MLS AREA 6
NORTH OF GROS VENTRE JUNCTION (13) - MLS AREA 7
TOWN OF JACKSON (101) - MLS AREA 8
SOUTH OF JACKSON TO SNAKE RIVER BRIDGE (28) - MLS AREA 9
SOUTH OF JACKSON TO COUNTY LINE (16) - MLS AREA 10
SINGLE FAMILY HOMES
SOLD · LISTED AT $4,275,000 · SOUTH OF TOWN OF JACKSON REPRESENTED BY DEB KEENAN
The single-family home market in Q3 2025 experienced modest stabilization following several quarters of strong growth, reflecting steady buyer demand and evolving pricing dynamics. Transactions dipped slightly by 4% to 106 sales, yet total dollar volume increased 17% to $604.9 million, supported by notable appreciation in several key submarkets.
The average sale price rose 20% to $5.67 million, while the median sale price climbed 12% to $3.36 million, signaling continued upward pressure on values, particularly in the upper tiers. The $1M–$2M range accounted for the largest share of transactions driven by increased inventory, up 43% year-over-year,
while sales over $5M surged 50%, emphasizing the sustained strength of the luxury segment.
Active listings expanded 26%, offering greater selection for buyers, while cash purchases grew 8% to represent just over half of all transactions. Conventional financing activity eased 30%, as higherend cash buyers dominated the market.
Overall, Q3 2025 marked a balanced and confident quarter for Jackson Hole’s single-family sector — characterized by stable transaction activity, highervalue sales, and continued demand at the luxury end of the market.
CONDOS/TOWNHOMES
The condo and townhome market in Q3 2025 demonstrated steady, broad-based growth, continuing its role as one of Jackson Hole’s most active property segments. Transactions increased 22% to 88 sales, while total dollar volume climbed 22% to $167.6 million, signaling healthy momentum despite modest pricing shifts.
The average sale price edged up 1% to $1.9 million, and the median sale price rose 6% to $1.44 million, reflecting balanced appreciation across submarkets. The $1M–$2M range captured the largest share of activity, accounting for 53% of total sales, while listings between $2M–$5M rose 25%, underscoring
continued demand for higher-end units.
Inventory expanded 26% to 68 active listings, offering buyers more choice, though pending listings declined 41%, suggesting a slight cooling from earlysummer highs. Average days on market remained stable at 131 days, and the highest sale of the quarter reached $6.6 million.
Overall, Q3 2025 reflected a balanced, sustainable performance for the condo and townhome sector — steady sales growth, firm pricing, and expanded inventory positioning this segment for continued stability heading into year-end.
ACTIVE · LISTED AT $2,825.000 · ONE TOWN HILL REPRESENTED BY MEGHAN LEIDY
VACANT LAND
SOLD LISTED AT $1,995,000 JACKSON HOLE REPRESENTED BY RYAN BLOCK
The vacant land market in Q3 2025 posted a modest rebound in activity, marked by selective strength in premium parcels and shifting buyer priorities. Total transactions increased 13% to 36 sales, while total dollar volume climbed 10% to $247.9 million, reflecting steady interest despite broader price adjustments.
The average sale price decreased slightly by 6% to $6.89 million, while the median sale price rose 15% to $3.4 million, indicating resilience among higher-quality properties. Sales over $5 million doubled year-over-year, accounting for 14% of total transactions and driving much of the quarter’s dollar volume growth. Meanwhile, the $1M–$2M range expanded 43%, highlighting demand for buildable lots with strong view corridors and infrastructure
potential.
Active listings held steady, up just 2% to 63, while pending listings rose 133%, suggesting renewed buyer engagement entering Q4. The highest sale of the quarter closed at $27 million, while the lowest recorded sale was $1.07 million. Average days on market improved slightly to 215, signaling stable absorption rates amid limited new inventory.
Overall, Q3 2025 reflected a period of selective strength for Jackson Hole’s land market — characterized by increased activity at the upper end, consistent buyer confidence, and a measured pace of growth ahead of year-end.
LUXURY
The luxury segment of the Jackson Hole market in Q3 2025 maintained steady momentum, highlighted by higher-value transactions and expanding buyer interest at the top end. Total sales increased 15% to 45 transactions, while total dollar volume rose 19% to $517.6 million, underscoring sustained strength among premium properties despite varied performance across submarkets.
The average sale price climbed 4% to $11.55 million, while the median surged 39% to $10.43 million, reflecting the sale of several exceptional estates in Wilson, West Bank, and North of Town. Markets such as MLS Areas 4, 5, and 9 saw the largest proportional gains, with individual transactions exceeding $20 million.
Active listings edged up 3% to 111, while pending listings jumped 56%, suggesting strong buyer pipelines heading into the final quarter. Days on market improved dramatically, dropping 33% to 155 days — the fastest pace in over a year. Although the highest sale of the quarter reached $28.35 million, down from last year’s record-setting $58 million, elevated volume across the $8–$15 million range anchored overall stability.
Overall, Q3 2025 reaffirmed Jackson Hole’s position as a premier luxury destination, where demand for top-tier properties remains resilient, supported by a deep pool of qualified cash buyers and limited trophy inventory.
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