MARKET REPORT
Q1 • THE JACKSON HOLE MARKET
The Jackson Hole real estate market kicked off 2025 with a strong and diverse performance across nearly every major property segment. Total transaction volume rose 24% year-over-year, with 72 properties changing hands in Q1, up from 58 during the same period last year. The average sales price increased by 16% to $5.2 million. This rise can be attributed to a few sales exceeding $15 million, which significantly raised the average, while prices at other levels remained stable. Most notably, total dollar volume rose 5% to nearly $390 million an indication of continued depth and resilience in the market despite shifting buyer strategies.
Market-wide, buyers appear more engaged and motivated, with average days on market dropping 13% from the previous year. Inventory climbed 11%, giving buyers more options than in recent quarters Additionally, financing trends revealed a tilt toward cash purchases, representing 54% of all transactions, up from 50% in Q1 2024. Meanwhile, conventional financing dropped by half, making up just 15% of deals. This reflects national interest rate sensitivities and a greater concentration of wellcapitalized buyers.
The standout performer in Q1 was the singlefamily home segment, which saw a 33% increase in sales and a 93% jump in dollar volume. These gains were largely driven by strong activity in luxury neighborhoods and resort-style communities such as Snake River Sporting Club and areas south of town Similarly, the condo and townhome market saw an 18% rise in sales and a
35% gain in total volume, driven in large part by increased interest in Teton Village. These properties continue to appeal to both seasonal residents and investors looking for lifestyle access and potential rental income
The luxury market remained consistent, with 18 transactions totaling just over $209 million. While the average luxury sale price declined, the median price increased, showing a broader distribution of luxury transactions rather than a reliance on outlier mega-deals
Not all segments experienced the same lift. The vacant land market contracted significantly, with sales and dollar volume down 20% and 66% respectively. Still, the land that did trade moved quickly, with days on market slashed in half. This suggests a subset of opportunistic buyers is still active
Overall, Q1 2025 painted a picture of a maturing, multifaceted market Jackson Hole continues to attract a wide range of buyers, from luxury seekers to lifestyle-driven relocators, and despite economic headwinds in other regions, the valley’s enduring desirability is clear With increased activity across most segments, strong pending sales, and more inventory coming to market, the year is poised for continued strength, especially for sellers who price strategically and buyers ready to act decisively in a competitive landscape.
TOTAL DOLLAR VOLUME 5% INCREASE YOY
$390M $8.1M
AVG SFH SALES PRICE 42% INCRESASE YOY
$5.6M
MEDIAN SFH SALES PRICE 48% INCREASE YOY
72
TOTAL TRANSACTIONS 24% INCREASE YOY
208
ACTIVE LISTINGS 11% 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 VILL AGE (11) - MLS AREA 1
TETON PINES (4) - MLS AREA 2
NORTH OF WILSON (5) - MLS AREA 3
SOUTH OF WILSON (2) - MLS AREA 4
SK YLINE RANCH TO SAGEBRUSH DRIVE (5) - MLS AREA 5
EAST GROS VENTRE BUT TE (1) - MLS AREA 6
N OF GROS VENTRE JUNCTION (2) - MLS AREA 7
TOWN OF JACKSON (32) - MLS AREA 8
SOUTH OF JACKSON TO SNAKE RIVER BRIDGE (5) - MLS AREA 9
SOUTH OF JACKSON TO COUNT Y LINE (5) - MLS AREA 10
SINGLE FAMILY HOMES
SOLD LISTED AT $3,700,000 JACKSON REPRESENTED BY RYAN BLOCK
The single-family home market in Jackson Hole experienced an exceptional first quarter in 2025, underscoring its role as the backbone of the local real estate economy. Sales rose 33% with 32 homes sold across the region. More notably, total dollar volume surged 93%, reaching an impressive $2648 million Both the average sale price and the median rose substantially 42% and 48% respectively—signaling continued demand for high-quality, standalone residences. This price growth was driven by strong activity in traditionally sought-after areas like South of Jackson, West of the Snake River, and at the Snake River Sporting Club.
Inventory increased by 36%, giving buyers more choices than they’ve had in recent quarters. At the same time, days on market decreased 14% to 144 days, a sign that demand remains strong even as prices climb. The increase in both mid-tier ($2M–$5M) and high-end ($5M+) activity suggests that the buyer pool is broadening from local upgraders to out-of-area lifestyle buyers and investors. With more pending contracts reported and new product hitting the market, the singlefamily segment is expected to stay strong through the spring and summer selling seasons.
MARKET STATS
NUMBER OF TRANSACTIONS
MA XIMUM PRICE LISTED
MEDIAN SALE PRICE
AVERAGE SALE PRICE AVERAGE DAYS ON MARKET MINIMUM PRICE LISTED ACTIVE LISTINGS
PENDING TRANSACTIONS
CONDOS/TOWNHOMES
Condos and townhomes in Jackson Hole continued to gain traction as buyers seek more accessible and low-maintenance options in a competitive market. Q1 2025 saw an 18% increase in sales, growing from 22 to 26 transactions Total dollar volume climbed 35% year-over-year to $53.6 million, with the average sale price rising 12% to just over $2 million. The median price rose even more by 19% to $133 million, reflecting stronger demand for newer and upgraded units. Teton Village was particularly active, with a 60% increase in transactions and a 47% rise in average pricing, driven by both owner-occupants and investors capitalizing on short-term rental potential. SOLD LISTED AT $1,750,000
Interestingly, despite the growth in sales, inventory declined by 24% year-over-year, and pending sales dropped slightly. However, average days on market decreased 13%, suggesting that well-priced, turnkey listings are being absorbed quickly. Financing patterns also shifted, with cash purchases accounting for 50% of sales—up from 30% the year prior signaling that buyers in this segment are well-capitalized and ready to move swiftly. As price points continue to rise and inventory remains constrained, competition in the condo and townhome market is expected to
JACKSON REPRESENTED BY COLBY MURPHY
MARKET STATS
NUMBER OF TRANSACTIONS
ACTIVE LISTINGS
MINIMUM PRICE LISTED
MA XIMUM PRICE LISTED
AVERAGE SALE PRICE
MEDIAN SALE PRICE
AVERAGE DAYS ON MARKET
PENDING TRANSACTIONS
VACANT LAND
SOLD LISTED AT $1, 400,000 JACKSON REPRESENTED BY COMPASS
Vacant land sales in Jackson Hole cooled in Q1 2025. Total transactions fell from 10 to 8, while dollar volume dropped by 66% year-over-year to just $24.5 million. The average sale price dropped sharply by 52%, and the median price slipped 14%, landing at $3.49 million.
The luxury-driven land activity that characterized 2023 and early 2024 has tapered, with fewer buyers pursuing speculative building or large custom home projects amid rising construction costs and longer development timelines, in addition to limited supply.
A positive trend that emerged in Q1 2025 was that the average days on market dropped 50%, indicating that the land that is selling is moving faster. This suggests that motivated buyers remain in the market, but they are more valueconscious and selective. With inventory down 19% and pending sales also lower, the land market could remain subdued in the near term, unless inventory refreshes with more competitively priced or development-ready parcels. For those willing to build or invest longterm, there may be strategic opportunities in the current climate.
MARKET STATS
NUMBER OF TRANSACTIONS
LISTED ACTIVE LISTINGS
MA XIMUM PRICE LISTED
AVERAGE SALE PRICE
MEDIAN SALE PRICE
PENDING TRANSACTIONS
LUXURY
The luxury segment in Jackson Hole remained remarkably stable in Q1 2025, even as the composition of sales shifted. Properties priced over $5 million accounted for 18 transactions during the quarter, up from 13 in Q1 2024 a 38% increase in volume. Despite this rise in transactions, total dollar volume stayed virtually unchanged at just over $209 million. The average luxury sale price declined 33% to $116 million, but the median rose 13% to $9.1 million, suggesting that while fewer record-breaking “trophy” sales occurred, the market is increasingly made up of consistent high-end purchases in the $5M–$10M range.
Strong luxury activity was concentrated North of Town, North of Wilson, and Skyline Ranch to Sagebrush Drive, with new interest also surfacing in Teton Village and South of Jackson. Notably, luxury pending sales more than doubled, indicating continued confidence and momentum heading into the spring. Buyer profiles remain varied, ranging from ultra-high-net-worth individuals seeking legacy properties to seasonal owners diversifying portfolios. As more inventory enters the market and interest rates stabilize, luxury demand is expected to remain healthy, especially for move-in-ready homes with privacy, views, and access to Jackson’s outdoor amenities.
MARKET STATS
NUMBER
OF TRANSACTIONS
MA XIMUM PRICE LISTED
AVERAGE SALE PRICE
MEDIAN SALE PRICE
DAYS ON MARKET MINIMUM PRICE LISTED ACTIVE LISTINGS
PENDING TRANSACTIONS
TALK TO AN EXPERT
Experience the Compass Real Estate difference by working with Jackson Hole’s leading real estate experts. We are a team of trusted advisors working collaboratively to leverage our collective knowledge and expertise to deliver fundamentally different services For us, nothing matters more than creating a legacy of excellence that honors and celebrates our people and the exceptional place we call home
To start your search of all active Jackson Hole listings, scan the QR code