Jackson Hole 2025 Mid-Year Market Report
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Market Overview Mid-Year 2025
We’ve made it halfway through the year, and it’s the perfect time to reflect on how the Jackson Hole real estate market has evolved over the past 12 months Midyear also marks the halfway point of the summer selling season a time defined by a flurry of new listings, an influx of tourists and second homeowners, and local businesses operating in full swing. It’s go time in Jackson Hole!
While 2023 and 2024 were relatively quiet years for local real estate, 2025 is gaining momentum. Through midyear, the number of transactions exceeded last year by 8%. Properties within the Town of Jackson accounted for nearly 45% of all transactions, while the area just south of Jackson came in a distant second with 13%
The median sale price dipped approximately 11% to $1.78 million, while the average sale price rose about 5% to $4.3 million. As is typical for our market, the average is heavily skewed by high-end sales properties over $10 million made up nearly 12% of all sales so far this year
At midyear, 283 properties were actively listed for sale, representing a 16% increase in inventory compared to the same time last year. This is a much-needed boost, although many segments of the market still face limited options.
Looking ahead, the remainder of the year appears poised for continued strength, with 38% more listings currently under contract than at this point in 2024.
Jackson Hole’s real estate market is starting to find its rhythm again. Market conditions are shifting, with a clear uptick in inventory, contracts, and activity, especially in town Despite mixed pricing trends, there’s a growing sense of momentum and opportunity heading into the second half of 2025.
Tyler Davis Operating Principal
The single-family home segment continues to represent the majority of sales, accounting for approximately 42% of all transactions so far this year Compared to the same period last year, the number of home sales remained relatively steady, with a modest 2% increase. Most activity occurred within the Town of Jackson and the area just south of town, including neighborhoods like Rafter J, Melody Ranch, and 3 Creek.
With nearly ¼ of home sales closing above $10 million and a few surpassing $20 million the average sale price was significantly skewed, rising nearly 35% to $6.7 million. A more balanced measure, the median sale price, also saw firm growth, up 14% to $3.16 million year-over-year.
Buyers have more to choose from than they did a year ago, with home inventory up 15% to 128 listings However, nearly 40% of that inventory is priced above $8 million
Momentum is building for sale activity for the remainder of the year, with 24% more homes under contract than at this time last year, and the average time on market has dropped by nearly 20%. S i n g l e F a m i l y H o m e s
Inventory of singlefamily homes has grown compared to a year ago, giving buyers more flexibility and choice than in recent years. While the luxury segment remains strong, homes priced under $3 million remain scarce accounting for just 23% of current listings
Gillian Heller Associate Broker
The first half of the year marked a strong rebound for the condo and townhome market. After a challenging period in 2022–2023 when rapidly rising mortgage rates caused many buyers to pause the segment has regained momentum The earlier slowdown led to a modest price correction, especially among lower-priced inventory With prices now having stabilized, the number of transactions rose nearly 30% year-over-year Demand for properties zoned for short-term rental has been particularly strong, accounting for 45% of the transactions so far this year.
The median sale price increased by approximately 7% to $1.19 million, with about 30% of sales closing below $1 million. Inventory is up 9% compared to this time last year, offering 63 active listings at mid-year. Meanwhile, the average number of days on market declined 9% to 136 days.
Looking ahead, transaction activity is expected to outpace last year, while pricing is likely to remain steady. C o n d o s + T o w n h o m e s
With prices holding steady, improved inventory levels, and quicker transaction times, market momentum is clearly building. All signs point to a strong second half especially in the short-term rental space, where demand remains high and well-positioned properties are moving efficiently.
Robert Neill Sales Associate
Land sales in Jackson continue to make up the smallest share of total market activity, accounting for just 13% of area transactions. This reflects both the limited availability and the inherent challenges of developing property in the region Despite these constraints, the number of transactions held steady year-over-year, with only one fewer sale compared to the same period last year
Sales through mid-year skewed toward larger, more valuable parcels, pushing the average sale price up over 60% from a year ago. However, the median sale price fell 14% to $1.88 million. These dramatic shifts are largely the result of a small data set, where just a few high-end transactions can significantly influence the averages. Notably, the highest land sale so far this year was a 70-acre parcel along the Snake River, listed for $17.8 million.
Vacant land inventory remains unchanged from a year ago, with 54 parcels on the market. While this may suggest an oversupply on paper, the wide variation in size, location, and zoning means that, in reality, buyer options remain limited once individual criteria are considered
Looking ahead, a 167% increase in the number of parcels under contract at mid-year suggests continued strength in the land segment through the remainder of the year L a n d + R a n c h e s
In my recent experience with land transactions, it’s all about playing the long game Sellers tend to be patient, recognizing that it takes the right buyer someone willing to take on the building process or interested in landbanking for future use On the other side, buyers are just as measured. They know that building is a long and involved process, so they’re waiting for a parcel that truly justifies their investment of both time and capital.
Rebekkah Kelley Associate Broker
The luxury market in Jackson Hole saw the largest year-overyear increase in transaction volume among all segments, with sales rising over 40%. Luxury transactions occurred throughout the valley, though the neighborhoods around Jackson Hole Golf & Tennis and Skyline led both in total sales and year-over-year growth The Town of Jackson ranked second in luxury activity
While the average sale price declined approximately 17%, this is not indicative of a market correction but rather a result of last year’s $50+ million transaction skewing the data. In contrast, the median sale price rose 3%, reflecting more consistent values across the segment.
So far this year, 90% of luxury sales have been residential properties, with only 10% comprising vacant land. Among all market segments, luxury currently has the highest inventory, offering buyers a broad range of options. Active listings in this category rose 31% year-over-year, creating increased competition for sellers Still, demand remains strong, with the number of luxury properties under contract up 44% at midyear an encouraging sign of continued momentum into the fall Additionally, luxury properties are selling about 20% faster than they did at this time last year
Having recently facilitated luxury sales at premier locations like Tributary in Driggs and Fall Creek in Wilson, I’ve seen firsthand the strength of our region’s luxury market. Turnkey homes and unique land offerings remain top priorities for buyers, with Jackson leading the way in transaction volume and demand Despite rising inventory, competition for highquality properties remains strong reflecting continued buyer confidence and a positive outlook for the year ahead
Scott Blackwood Associate Broker
S River Bend Road, List Price: $9,950,000
