Even amid low inventory and elevated interest rates for home loans, sustained demand for real estate in the Tetons lifted the Jackson Hole market in 2024. Sales transactions increased by 10.6% year-over-year, while overall sales volume rose by 2% to $1.052 billion.
The sales volume in Jackson Hole was driven by the high end of the luxury homes market, with three properties in particular each selling for more than $30 million. Meanwhile, the total number of transactions was boosted by the lower end of the market, with sales of condos and townhomes jumping by 23.5% year-over-year.
The average sales price in Jackson Hole, which had been steadily rising since the pandemic, finally began to cool in 2024, decreasing by 7.8% compared to 2023. That helped draw buyers, but it did not entice sellers in the same manner: Inventory remained flat, with 193 properties listed on the market last year compared to 188 in 2023.
Looking forward, home inventory will be worth monitoring closely for evidence of more sellers, with the potential for a further decrease in sales prices. If you're looking to buy or sell in Jackson Hole, an experienced local Realtor is invaluable in navigating these changes – contact us anytime at jhpropertygroup@jhsir.com or (307) 739-8190.
You can read the entire Teton County, Wyoming Market Report for Year End 2024 from Jackson Hole Sotheby's International Realty below.
