It’s been a wild ride for Jackson Hole real estate since the pandemic, as sky-rocketing demand and lack of inventory have driven sales prices and volume to historic heights. But there are signs that we may be cooling down to a (slightly) more balanced market.
For the first time in two years, inventory in Jackson Hole is increasing – it rose 20% year-over-year in the second quarter, with 92 homes for sale.
Meanwhile, the number of units sold decreased by 52% compared to the second quarter of 2021. It should be noted, however, that those numbers could have been affected by the closure of the Jackson Hole Airport for most of this time.
Though sales prices are continuing to rise, with the average price of a single-family home increasing by 7.3% in the second quarter, they are not rising at the furious pace of the same period last year, when they leaped by an eye-popping 41.3%.
You can dive into the different real estate categories, neighborhoods and price ranges in the latest Teton County, Wyoming Market Report from Jackson Hole Sotheby’s International Realty below.
The local real estate market will be very interesting to watch in the coming months, as moderating prices could encourage both more sellers to list and more buyers to get off the sidelines. If you’re considering either move, please do not hesitate to contact us for a custom market assessment.