The Jackson Hole real estate market showed continued signs it is moving toward a more balanced dynamic between sellers and buyers in the third quarter. After a few years of record low inventory due to high demand, the number of listings in Teton County rose for the second-straight quarter in 2022.
There were 113 single-family homes on the market at the end of September, a 31.4% increase compared to the same time last year. While sales at the high end of the Jackson Hole market ticked the average home sales price upward by 4.6%, the median sales price fell to $3.55 million in the third quarter, down from more than $4 million in the first quarter.
September saw the most real estate transactions of the year in Jackson Hole, however, transactions were still down by 53.90% in the third quarter overall compared to the same period last year.
The Jackson Hole real estate market appears to be in a transitionary period, as many potential buyers wait for prices to settle to a more comfortable range, given rising interest rates and other inflationary pressures. If inventory continues to increase, that just might happen.
As the market dynamic changes quickly, an experienced local realtor can help both buyers and sellers navigate it according to their best interests. Do not hesitate to contact us at firstname.lastname@example.org or (307) 739-8190 for a custom market assessment.
You can view the entire Teton County, Wyoming Market Report for Third Quarter 2022 below.