Q4 2025

Jackson Hole Real Estate Report Snapshot

The Overall Market Hit a 30-Year Record

Jackson Hole closed 2025 with 453 total transactions, up 27% year over year, and $2.17 billion in dollar volume, a 52% increase from 2024. This marks one of the strongest overall performances in more than three decades, defying broader national real estate slowdowns.

Inventory Remains the Core Constraint

Despite rising activity, overall inventory declined 9% compared to last year and is not expected to meaningfully increase until late spring 2026. Limited developable land and labor constraints continue to keep supply tight, reinforcing long-term price support across all segments.

The $1M–$3M Segment Is the Market’s Pressure Point

Homes priced between $1 million and $3 million accounted for 44% of all transactions, yet represented only 20% of available inventory at year’s end. This imbalance continues to drive competition and upward pressure on pricing, particularly in the Town of Jackson.

Luxury Activity Surged, Led by New Development

The luxury market saw a 131% increase in closings, driven largely by new condo sales in Teton Village, including Hoback Club. While luxury inventory under contract has leveled off, pricing remains well supported, and competition for well-priced properties is expected to continue into 2026.

Cash and Out-of-Area Buyers Continue to Shape Demand

In 2025, 47% of buyers came from outside Jackson Hole, led by the Midwest and Northeast. Cash purchases remain dominant—especially in land sales—underscoring Jackson Hole’s position as a lifestyle and capital-preservation market rather than a cyclical one.

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Overall Number of Sales: Up 27%

The year closed with the overall market—including all home, lot, condo, and commercial transactions or listings—reporting 27% more closings than 2024 for a total of 453 in 2025.

Number of Active Listings: Down 9%

Current overall available inventory is down 9% when compared to 2024. Condo/Townhomes were the only segment with additional inventory at year’s end. Following suit, the average and median list prices are down 3% and 8%, respectively.

Luxury Market Sales: Up 131%

The Luxury Market (homes selling for $10+ million and condo/townhome and single-family lots selling for $5+ million) reported 131% more closings in 2025. On the flip side, the number of Luxury properties under contract as of January 1, 2026, is at par with last year.

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