JACKSON, Wyo. — If you thought Jackson Hole’s real estate market had cooled off, think again. According to the newly released Q3 2025 Jackson Hole Real Estate Market Report from Jackson Hole Sotheby’s International Realty, luxury listings are once again leading the charge with more $10 million–plus homes sold this year than during the height of the pandemic boom.
Through the first nine months of 2025, 24 single-family homes priced above $10 million have sold across Teton County, eclipsing the previous high-water mark of 18 during 2021’s frenzied buying spree. The average single-family sale price now sits at $6.33 million, a 34 percent jump from last year. Sotheby’s attributes much of that growth to strong activity in upper-end neighborhoods like Teton Pines, Crescent H, Gros Ventre North, and the iconic “Big Boulder” property on Fish Creek.
A Billion-Dollar Bounce
At a broader level, Jackson’s housing market appears to have fully shaken off its post-COVID hangover. The report notes that total sales volume reached $980 million by the end of September, up 27 percent from 2024, putting the valley on track to again break the symbolic $1 billion annual threshold that defines a strong Jackson Hole market. Transactions overall are up 11 percent, while listings rose 17.5 percent year-over-year, totaling 301 active properties.
The median sale price through Q3 climbed 18 percent to $2.375 million, representing a typical 3-bedroom, 2,000-square-foot home in the Town of Jackson. That’s a noticeable jump from last year’s $2 million median, which reflected a smaller Teton Village condo.
Condo Prices Rise, Land Cools Slightly
Condo and townhome sales ticked up modestly with 78 total through September, while the average price reached $1.86 million, up just over 10 percent. On the other hand, land sales cooled somewhat, with the average land and ranch sale price dropping 43 percent to $3.56 million, as fewer large parcels traded hands.
Still, the land market remains active: 30 vacant parcels sold in 2025, ranging from $800,000 lots at Porter Ranch to a $17 million, 70-acre stretch bordering the Snake River.
Luxury Rules the Valley
Inventory has grown slightly but remains heavily skewed toward high-end properties. More than one-third of single-family listings in Teton County now exceed $10 million, underscoring Jackson Hole’s continued evolution into one of America’s most exclusive housing markets.
While the national real estate conversation often centers on affordability, Jackson Hole operates in its own economic ecosystem, one where limited supply, second-home demand, and scenic scarcity keep prices climbing.
If 2025’s third quarter is any indication, the billion-dollar bounce is well underway, and luxury buyers are once again calling the shots in the Tetons.
AntlersArch founder and the voice behind Teton Tattle.
