MARKET REPORT
Q1 2026 • THE JACKSON HOLE MARKET
The Jackson Hole real estate market entered 2026 with a continued shift toward normalization following several years of exceptional growth. While overall transaction volume moderated in the first quarter, pricing remained resilient across key segments, underscoring the area’s enduring demand and limited supply. Inventory levels showed signs of gradual improvement, offering buyers more opportunities, while the market overall continued to demonstrate stability at higher price points. Two outsized transactions, the approximately $350,000,000 sale of the Four Seasons Resort Jackson Hole and a $19,000,000 luxury land sale, significantly skewed overall market performance, amplifying total volume and influencing key metrics across the Jackson Hole market.
The single-family home segment remained the cornerstone of the Jackson Hole market in Q1 2026, with steady demand supporting pricing despite a more measured pace of sales. Transaction volume and home values softened compared to the previous year, reflecting continued interest in highquality properties and limited availability in prime locations. Increased inventory provided buyers with more options than in recent years, contributing to longer marketing times and a more balanced negotiating environment.
The Jackson Hole condo and townhouse market experienced a sharp decline in transaction volume, with deals down 42% and total dollar volume falling 16%, yet the average sales price doubled—highlighting a market increasingly driven by a limited number of high-end transactions amid a significant slowdown in lower-priced
activity. Inventory fluctuations played a key role in transaction volume, though well-priced properties continued to attract consistent interest.
Vacant land activity reflected a more deliberate pace in Q1 2026, with buyers taking a longer-term view on development and investment opportunities. Total dollar volume surged, supported by limited supply and the intrinsic value of land in the Jackson Hole area. Demand persists for well-located parcels, particularly those offering privacy, views, and proximity to recreation.
The luxury segment continues to define Jackson Hole’s market identity, with high-end properties maintaining strong demand and commanding premium pricing. While the number of transactions at the top of the market may fluctuate quarter to quarter, interest from affluent buyers remains steady. Trophy properties and turnkey homes continue to perform well, reinforcing Jackson Hole’s position as a premier destination for luxury real estate investment.
As Jackson Hole moves further into 2026, the market continues to find its footing in a more balanced and sustainable cycle. While transaction volume has moderated, steady pricing and improving inventory signal a healthier dynamic for buyers. With continued demand across all segments, particularly in the luxury and singlefamily markets, Jackson Hole remains one of the most resilient and desirable real estate markets in the region.
$700M
TOTAL DOLLAR VOLUME
INCREASE YOY
62
DECREASE YOY $4.4M TOTAL TRANSACTIONS
DECREASE YOY
258
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 (6) - MLS AREA 1
TETON PINES (7) - MLS AREA 2
NORTH OF WILSON (4) - MLS AREA 3
SOUTH OF WILSON (3) - MLS AREA 4
SKYLINE RANCH TO SAGEBRUSH DRIVE (5) - MLS AREA 5
EAST GROS VENTRE BUTTE (1) - MLS AREA 6
NORTH OF GROS VENTRE JUNCTION (3) - MLS AREA 7
TOWN OF JACKSON (22) - MLS AREA 8
SOUTH OF JACKSON TO SNAKE RIVER BRIDGE (6) - MLS AREA 9
SOUTH OF JACKSON TO COUNTY LINE (5) - MLS AREA 10
SINGLE FAMILY HOMES
SOLD LISTED AT $7,750,000 TOWN OF JACKSON SELLER REPRESENTED BY CHRISTY GILLESPIE & BUYER REPRESENTED BY COLBY
Single family home sales volume softened compared to the same period last year, with total dollar volume declining 43%, reflecting a transition away from the high-end, election-influenced surge of 2025 toward a market with activity more evenly distributed across the full pricing spectrum; however, demand for quality homes remained steady. Buyers continue to prioritize location, views, and proximity to amenities, with well-positioned properties attracting consistent interest.
Pricing within the single-family segment declined, underscoring the strength of the Jackson Hole market. While some variability emerged across submarkets and price tiers, values overall remained supported by limited inventory and sustained demand. High-quality, turnkey homes continued to command premium pricing, while properties requiring updates or priced above market expectations experienced longer marketing times. Inventory levels increased compared to prior years, offering buyers more choice and contributing to a shift toward a more
MURPHY
balanced market. This rise in available listings has provided greater negotiating power for buyers, particularly in the mid-tier of the market. As a result, days on market have trended upward slightly, signaling a transition away from the rapid pace seen during peak market conditions and forcing aspirational list prices to come closer to buyer expectations..
Despite these shifts, the single-family segment remains the foundation of the Jackson Hole real estate market. The combination of strong underlying demand, limited long-term supply, and the area’s enduring appeal continues to support values. As the market progresses through 2026, the single-family sector is expected to remain stable, with opportunities emerging for both buyers seeking greater selection and sellers who are strategically positioned within the market.
MARKET STATS
CONDOS/TOWNHOMES
The condo and townhome market in Jackson Hole showed signs of stabilization in Q1 2026, following several years of heightened demand. Despite the slowdown in sales, buyer interest remained consistent, particularly for well-located properties offering convenience, access to recreation, and lowermaintenance ownership.
Pricing in this segment remained relatively stable, supported by continued demand and a limited supply of quality inventory. Entry-level and mid-range units continued to serve as key access points into the Jackson Hole market, while updated and turnkey properties commanded stronger pricing and attracted
quicker offers. As inventory levels gradually improved, buyers gained more flexibility, leading to a slight increase in days on market.
Overall, the condo and townhome segment continues to play an important role in the Jackson Hole housing landscape. While the pace of transactions has slowed, steady demand and improved inventory are contributing to a more sustainable and balanced market environment moving forward.
SOLD LISTED AT $1,410,000 WILSON REPRESENTED BY DEB KEENAN
MARKET STATS
VACANT LAND
SOLD · LISTED AT $10,380,000 · WILSON REPRESENTED BY BREEZY WOODFIN
The vacant land market in Jackson Hole showed that buyers continued to take a longterm, strategic approach to land acquisition. Transaction activity moderated compared to prior years, but demand remained steady for well-located parcels offering privacy, views, and development potential. Buyers in this segment are often less time-sensitive, contributing to a more deliberate transaction timeline.
Premium parcels—particularly those with desirable location attributes or proximity to recreation—continued to command strong values, while more remote or less improved properties experienced longer marketing
periods. Inventory levels increased by 53%, providing buyers with a broader selection than in recent years.
Overall, the vacant land segment continues to reflect confidence in the long-term value of Jackson Hole real estate. While transaction volume has softened, steady pricing and sustained interest point to an enduring demand for land as both a lifestyle and investment opportunity.
LUXURY
The luxury market in Jackson Hole remained a defining force in Q1 2026, with demand for properties over $5 million continuing to reflect the area’s global appeal. While transaction volume at this level can fluctuate quarter to quarter, buyer interest remained steady— particularly for exceptional homes offering privacy, views, and proximity to world-class recreation. In addition to lifestyle appeal, tax changes in other states, and Wyoming’s tax advantages—including no state income tax, no corporate income tax, and favorable estate planning structures—continue to attract high-networth individuals seeking both investment stability and long-term financial efficiency.
Pricing at the top end of the market remained resilient, supported by limited inventory and the scarcity of truly premier properties. Turnkey homes and new
construction commanded the strongest interest, while properties requiring updates or lacking prime location characteristics experienced longer marketing times and increased sicounting. As inventory has gradually increased, buyers have become more selective, placing greater emphasis on quality, design, and overall value— particularly when making strategic, tax-conscious investments.
Overall, the luxury segment continues to anchor Jackson Hole’s market, combining strong lifestyle appeal with meaningful financial incentives. The intersection of limited supply, sustained demand, and Wyoming’s favorable tax environment positions this segment as a compelling option for high-net-worth buyers seeking both a premier destination and a smart long-term investment.
ACTIVE LISTED AT $23,950,000
REPRESENTED BY GRAHAM FAUPEL MENDENHALL
JACKSON HOLE
