Jackson Hole Real Estate Market Report: Q1 2026
Q1 2026 Overview
The Jackson Hole real estate market entered 2026 with steady activity, though at a slightly slower pace than last year. Overall transactions declined by about 8%, largely due to a sharp drop in condo and townhome sales. At the same time, single-family homes and land sales posted year-over-year gains—pointing to a market that remains active, but more selective.
Pricing across most segments has held relatively steady. While average and median sale prices showed some movement, these shifts are largely tied to a smaller data set and fewer ultra-high-end transactions compared to early 2025—not broad changes in value.
Inventory continues to improve, with 208 active listings at the end of the quarter—up 26% from last year. This increase is a positive sign for buyers, though availability is still limited when narrowed down by price point and location. With pending sales up 3%, the market is well positioned heading into the spring and summer selling season.
Single-Family Homes Lead the Market
Single-family homes remain the strongest segment in Jackson, with sales up more than 20% year over year. Much of that growth came from the Town of Jackson, where transactions more than doubled compared to Q1 2025.
Inventory remains tight at just 76 active listings, but demand is clear—pending sales jumped 46% by the end of the quarter. Well-priced homes in good condition are selling quickly, while properties priced above market expectations are taking longer and often selling at a discount. In fact, 70% of homes spent more than 120 days on the market and closed at about 85% of their original list price.
The takeaway: pricing strategy matters more than ever in this segment.
Condos & Townhomes Slow Down
The condo and townhome market continues to adjust following the peak activity seen in 2022. Rising interest rates have impacted affordability and reduced investor activity, leading to a 54% drop in transactions year over year.
While pricing data shows increases, this is largely due to a small number of higher-end sales rather than widespread appreciation. Entry-level activity has been limited so far this year.
One bright spot: inventory has doubled compared to last year, helping to rebalance the market. As we move into the busier months, this segment is expected to remain stable, without major shifts in either direction.
Land & Ranches: Limited but Active
Land sales in Jackson Hole remain highly variable, with a slight increase in transactions so far this year. Inventory has grown significantly—up more than 50% year over year to 55 available parcels—but options are still limited once buyers apply specific criteria.
Each property comes with unique considerations around zoning, land use, and development, making local expertise essential.
As Kelsey Spaulding notes:
“We’re seeing a nice increase in land and ranch sales across Teton County. Many buyers are leveraging 1031 exchanges, and others are moving forward despite uncertainty around building costs. With limited land available here, long-term value remains strong.”
Luxury Market Holds Steady
Jackson Hole’s luxury market continues to perform consistently. There were 27 transactions over $5 million in Q1, in line with last year.
Inventory in the luxury segment is one of the few areas offering more selection, increasing by over 30% year over year. However, these properties continue to have longer timelines, averaging around 191 days on market. Buyers are selective, and sellers are often willing to wait—creating a more measured pace for transactions.
Looking ahead, the luxury segment is expected to remain a key driver of overall market performance in 2026.
Looking Ahead
The first quarter of 2026 points to a market that is stabilizing with more inventory and steady demand. While certain segments—like condos—are still adjusting, others, particularly single-family homes and land, continue to show strength.
With more listings coming online and buyer activity holding, Jackson Hole is entering the spring and summer season with solid fundamentals—and continued competition for well-positioned properties.
