The Average Price For A Jackson, Wyoming Single-Family Home Just Hit Another Record

The first quarter of 2025 brought a flurry of activity to Jackson Hole’s real estate market, with sales volume up and new zoning changes reshaping the development landscape.

🏡 Key Real Estate Market Highlights

Overall Sales rose 16% compared to Q1 2024, but total dollar volume declined by 5%, signaling more deals at lower price points.
Single-family home sales jumped 33%, with a record average price of $7.395M and median price of $5.25M.
Homes under $2M are nearly extinct; only seven such listings remain.
Luxury market booming: Homes over $10M saw a 75% increase in sales, and currently 27 such listings are available—up 145%.
Condos/Townhomes sales rose 14%, with prices up 23%–30%. The Town of Jackson led the charge, capturing 59% of all sales.
Vacant land sales slipped, but average sale price hit a Q1 record of $3.19M, thanks to a jump in $5M+ land deals.

Inventory Snapshot

Single-family home inventory rose 27%, now at 71 listings, but affordability remains elusive.
Condo inventory dropped 16%, reflecting just four months of supply.
Vacant land inventory is stable, but no parcels are listed below $1M, and the average list price rose 17% to $5.03M.

Zoning Overhaul: All of Teton County Now Under NRO

A major zoning update has placed 100% of Teton County under the Natural Resources Overlay (NRO). All properties, regardless of location, must now undergo an environmental review when applying for a development permit.

Parcels are classified into Base, Mid, and High Tier, with increasing levels of ecological scrutiny. This shift is expected to affect about 25% of the 1,288 vacant rural lots.

Land Ownership Trends

Of 1,052 vacant lots under 35 acres, 33% are held by neighboring owners for visual/privacy protection.
Of 231 larger lots (35+ acres), 38% are owned by four local families.
Nine vacant lots went under contract in Q1, up 125%, including two priced over $10M.

Bottom Line: The Jackson Hole real estate market remains highly active in early 2025, especially for luxury homes, while zoning reforms and sky-high land prices may limit future development and affordability. Locals hoping to move up the property ladder face increasingly steep hurdles.

👉 For more insights and updates, check out the full report at jacksonholerealestatereport.com.