Jackson Hole real estate sales increased 7% through the third quarter of 2026, while inventory declined and the median sale price climbed nearly 20%. Here's what the latest numbers tell us about the market.
The Jackson Hole real estate market remained active through the first nine months of 2026, with more properties selling despite fewer homes available for purchase. Single-family homes continued to lead the market, while land sales increased and the condo and townhome market showed signs of improvement.
According to the Keller Williams Jackson Hole Q3 2026 Market Report, 333 properties sold through September, generating nearly $1.4 billion in total sales volume.
While sales activity is up, the market continues to vary considerably by property type, price range, and location.
The biggest takeaway: More properties are selling, but buyers have fewer options. The combination of increasing sales and declining inventory continues to shape Jackson Hole's real estate market.
At the same time, pending sales were down 23% at the end of September, suggesting that activity could slow during the final months of the year.
Single-Family Homes Continue to Lead the Market
Single-family homes remain the strongest segment of Jackson Hole real estate, accounting for 52% of all transactions through the third quarter. A total of 173 single-family homes sold, a 23% increase over the same period in 2025.
The Town of Jackson recorded the most home sales, but two other areas experienced particularly strong growth. Sales in the area surrounding Jackson Hole Airport and north toward Moran increased 133%, while the Hoback Junction and Snake River Sporting Club area saw sales increase 300%. The average single-family home sale price declined 20% to approximately $5.38 million. However, this doesn't necessarily indicate that individual property values are falling.
Instead, more transactions occurred at lower price points, with approximately 42% of single-family homes selling for less than $3 million.
Pricing Matters, Even With Limited Inventory
Despite increased sales activity, homes are taking longer to sell. At the end of September, there were just 118 single-family homes available, a 17% decrease from last year. The average home spent 145 days on the market, an increase of 16%, and sold for approximately 90% of its original listing price.
For sellers, these numbers reinforce the importance of pricing a property appropriately from the beginning. Homes that remain on the market longer often experience a larger gap between their original asking price and final sale price.
For buyers, longer marketing times may create opportunities to negotiate, particularly on properties that have been listed for several months.
Condo and Townhome Sales Show Signs of Improvement
The condominium and townhome market has faced more challenges than other property types in recent years, but activity is beginning to improve.
Through September, 86 condos and townhomes sold, an 8% decrease compared to 2025. While sales remain below last year's levels, that's a considerable improvement from mid-year, when transactions were down 25%. Nearly three-quarters of condo and townhome sales occurred below $2 million, reflecting continued demand for properties at more accessible price points within the Jackson Hole market.
Teton Village also experienced a rebound in activity, with its share of condo and townhome sales increasing 175% compared to the same period last year. The average sale price declined 11% to approximately $1.76 million, although much of that change reflects the mix of properties sold rather than widespread price reductions.
Inventory remains a challenge, with just 46 condos and townhomes available at the end of September, nearly 30% fewer than last year.
For buyers interested in condominiums or townhomes, particularly in Jackson or Teton Village, understanding individual HOA regulations, rental restrictions, and property conditions remains an important part of the purchasing process.
Vacant Land Sales Increase 17%
Vacant land continues to attract buyers interested in building custom homes, acquiring acreage, or securing property for future use.
Through the third quarter, 46 vacant land properties sold, a 17% increase from the previous year. Unlike the single-family home market, where certain neighborhoods experienced significant growth, land sales were distributed relatively evenly throughout Jackson Hole.
The average land sale price increased 34% to approximately $5 million, although one significant transaction influenced that figure. A 120-acre property along South Park Loop Road, listed at $33.5 million, was reported as the highest sale in Jackson Hole through September. Without that transaction, the average would provide a different picture of typical land values.
Inventory remained relatively unchanged, with 65 active land listings at the end of the quarter. For buyers considering vacant land, the purchase price is only one part of the equation. Building costs, zoning, development restrictions, utilities, and site preparation can significantly affect the overall investment.
Jackson Hole's Luxury Market Remains Steady
Jackson Hole's luxury real estate market has remained relatively consistent in 2026, despite fewer properties available for purchase. Through September, 72 luxury properties sold, a 4% decrease from the same period in 2025.
The average luxury sale price was approximately $10.74 million, down 6% year over year. One area experiencing notable activity was the corridor south of Jackson toward the Snake River Bridge. This area accounted for five of the ten highest sales in Jackson Hole through September, including transactions in 3 Creek Ranch and Ely Springs.
Luxury inventory declined approximately 15%, with 91 active listings at quarter-end.
What Does This Mean for Jackson Hole Buyers and Sellers?
The third-quarter numbers highlight a market that remains active but increasingly selective.
For buyers: Inventory is tightening, particularly for single-family homes and condos. However, longer marketing times and the difference between asking and selling prices suggest that some properties offer room for negotiation. Understanding the individual market segment is more useful than relying on valley-wide averages.
For sellers: Demand remains strong for well-positioned properties, but pricing is important. The fact that homes are taking longer to sell demonstrates that buyers are carefully evaluating their options. A realistic pricing strategy and professional marketing can help a property stand out.
Another factor worth watching is the decline in pending sales. With 23% fewer transactions under contract at the end of September, the market may experience a slower finish to 2026.
Looking Ahead to the End of 2026
The Jackson Hole real estate market continues to demonstrate resilience, with increased transactions, rising median prices, and declining inventory. However, the differences between property types are significant.
Single-family homes are experiencing strong sales growth, condo and townhome activity is gradually recovering, vacant land remains active, and luxury sales are holding relatively steady. As we head into the final months of the year, the decline in pending sales will be an important indicator to watch.
Whether you're considering buying, selling, or simply keeping track of your property's value, understanding the trends within your specific neighborhood and price range is essential.
If you have questions about the Jackson Hole real estate market or would like to discuss your property, I'd be happy to help.
Kelsey Spaulding
Associate Broker | Keller Williams Jackson Hole
