Rising interest rates and a post-pandemic hangover have slowed activity on the Jackson Hole real estate market over the past year, but this summer signaled a change.
In June, July and August of 2023, total real estate transactions in Teton County, Wyoming, rose by 52.8% compared to the same period last year, according to monthly statistics from the Teton Board of Realtors. The increase in real estate sales was even stronger among single-family homes, where sales jumped by 70.4% to 46 units in June, July and August.
In a sign that sellers are coming off the sidelines, inventory in Jackson Hole also increased year-over-year in each of those summer months. Total active listings across single-family homes, condos and vacant land stood at 309 units in August, up from 283 units in the same month last year. The increase was particularly pronounced among Jackson Hole condos, where inventory rose by 44.9% to 71 active listings last month.
While these figures are all positive signs, Jackson Hole is still teetering between a seller’s market and buyer’s market, as some uncertainty remains about future interest rates as the Fed looks to continue to tame inflation. It helps to have a knowledgeable Realtor in these times to navigate the market.