Jackson Hole 2025 Q3 Market Report
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Market Overview Q3 2025
The leaves may be falling in Jackson, but the real estate market certainly isn’t As we approach the end of 2025, let’s take a look at how sales are shaping up Through the 3rd quarter, the number of transactions is up 14% compared to last year. With mortgage rates holding steady and little change expected, motivated buyers are moving quickly when they find the right property.
One area that stood out with significant growth is south of Wilson along Fall Creek Road, which saw 14 transactions this year compared to just 5 last year. So far this year, the lowest priced full-ownership sale was a condo in an industrial area south of Jackson, which closed at $555,000. The highest sale was an estate located north of Wilson with live water and private Snake River access listed for $31,500,000
Although more properties are selling this year, sellers are also facing more competition, with active listings up 17%. Still, the year is on track to finish strong, with about 56 properties under contract at the end of the third quarter, an increase of nearly 25% from the same time last year On average, properties sold for about 94% of their final listing price
Overall, the data reflects a market in balance with increased listings offset by consistent buyer activity and stable pricing.
Even amid economic fluctuations and global uncertainty, Jackson Hole’s real estate market has proven its staying power. Savvy buyers recognize it as a reliable long-term investment, supported by enduring demand, luxury appeal, and a lifestyle that consistently sustains property values
Rebekkah Kelley Associate Broker
The single-family home segment continues to dominate the market, accounting for roughly 45% of all transactions so far this year The number of sales increased by about 9% compared to the same period last year Most transactions occurred within the Town of Jackson, though the area south of Wilson along Fall Creek Road experienced the largest yearover-year surge, with sales up 550%.
High-end sales heavily influenced market averages, with nearly a quarter of homes closing above $10 million and several exceeding $20 million. This drove the average sale price up 40% to $6.7 million. A more representative measure of the market, the median sale price, climbed 6% year-overyear to $3,175,000.
Price reductions have become increasingly common, as sellers often begin with aspirational pricing before aligning with the market On average, homes sold for about 95% of their final asking price, but only 91% of the original list price The longer a property remained on the market, the greater this gap tended to be.
Buyers now have more options than a year ago, with inventory up 12% to 142 active listings. Momentum is surging heading into year-end: homes under contract have jumped an impressive 83% compared to this time last year. S i n g l e F a m i l y H o m e s
The single-family home market remains strong, with steady demand and rising property values Compared to Q3 2024, key indicators such as median prices and sales activity show clear upward movement, reflecting continued confidence and growth in the market.
Gillian Heller Associate Broker
C o n d o s + T o w n h o
After a challenging stretch in 2022–2023, when rapidly rising mortgage rates caused many buyers to step back, the condo and townhome segment has cautiously regained momentum, with transactions up roughly 6% year over year However, the pace may soften in the months ahead, as the number of properties under contract at the end of the third quarter was 45% lower than a year ago.
The earlier slowdown prompted a modest price correction, particularly among lower-priced inventory. Yet demand remains strong for properties zoned for short-term rentals, which account for nearly 55% of all condo sales this year. Average and median sale prices rose sharply, up 18% and 17%, respectively, driven largely by a shift toward higher-end sales Nearly 15% of condos and townhomes sold this year exceeded $3 million, while several closings in the final phase of The Glenwood, a new luxury downtown development, surpassed $6 million, lifting the overall averages
Sellers now face stiffer competition, with 25% more listings on the market than at this time last year. Even with more options on the market, buyers continue to be drawn to the convenience and lifestyle these properties offer, keeping this segment firmly in motion.
The condo and townhome market has regained some momentum, led by high-end sales and strong demand for short-term rental properties. But with more inventory and fewer homes under contract, sellers are facing increased competition and need to price strategically.
Deirdre Griffith Sales Associate
1040 Smith Lane #46, List Price: $1,100,000
Land sales continue to make up the smallest share of market activity in Jackson, accounting for just 13% of all transactions This reflects both limited availability and the inherent challenges of development in the region The summer selling season brought renewed momentum, with transaction volume up about 25% from last year, driven mainly by activity north of town and within Jackson’s city limits.
Sales have skewed toward larger, higher-value parcels, pushing the average sale price up more than 23% year over year, while the median fell 14% to $1.9 million. These sharp contrasts stem from a small dataset, where a few high-end deals can significantly shift averages. Notably, the highest land sale so far this year was a 70-acre parcel along the Snake River, listed for $17 8 million
Inventory remains steady at 63 parcels Although that may appear like a lot, the wide variation in size, zoning, and location means actual buyer options are limited once individual criteria are considered. Pricing remains a key factor: land sales are taking about 22% longer to sell, with final sale prices averaging 86% of original list prices, the widest spread of any market segment. With only four properties currently under contract, the final quarter will reveal whether the segment can keep pace with last year’s sales volume.
This was a nice change of pace to see land sales increase. The building sentiment was down after troubles during the pandemic and again this year with the initial scares of tariffs, but I believe buyers understand that although the process may be arduous, custom homes and ranches in Teton County are always going to be sought after and they are not making any more land! If you had the option of an extensive remodel of a home built in the 90's or building from scratch, what would you do?
Kelsey Spaulding Associate Broker
The luxury segment continues to set the pace in Jackson Hole, posting the largest year-over-year gain in transaction volume across all market categories, a notable 50% increase High-end sales were spread throughout the valley, with the Jackson Hole Golf & Tennis and Skyline areas leading in total transactions. The standout performer, as mentioned, was the Fall Creek Road corridor south of Wilson, which saw the most significant growth from last year.
L u x u r y
Over the past five years, appreciation in property values has steadily expanded the luxury market, pulling more homes into this price range. Today, the majority of luxury sales, about 55%, fall between $5 million and $10 million, while only about 8% exceed the $20 million mark.
Residential properties continue to dominate the luxury category, representing more than 90% of transactions, while vacant land accounts for less than 10% Inventory in the segment has grown 14% compared to last year, offering buyers a wide array of choices but also increasing competition among sellers. Even so, momentum remains strong: the number of luxury properties under contract at the end of the third quarter climbed 57%, and homes are selling roughly 22% faster than they did a year ago, clear indicators of sustained strength heading into year-end.
While many markets nationwide are navigating economic uncertainty and shifting conditions, high-networth buyers continue to look to Jackson Hole as a stable, long-term investment. With its limited land supply, enduring demand, and unmatched lifestyle appeal, Jackson Hole real estate remains a proven tool for wealth preservation and portfolio stability, even in precarious times
Katie Brady Associate Broker
585 W Sena Road, List Price: $18,500,000
