Q3 2023 Jackson Hole Market Report

Three quarters of the way through 2023 the real estate market in Jackson Hole is holding firm. It has been over a year since the real estate market experienced a shift in buyer sentiment, triggered by increasing mortgage rates and threats of a national recession. While many buyers have decided to put their purchasing plans on hold driving transactions down, pricing has remained robust compared to a year ago with the average sale price increasing 14%. Since the market shift began over a year ago, the number of transactions has been decreasing vastly compared to the spikes seen during the COVID-19 era. However, those decreases have leveled off with only a slight (-6%) decrease in transactions compared to a year ago. The number of properties available for sale ticked up 24% and so did the average time to sell, up 42%. This data indicates buyers are still buying when the price and circumstances align but there is little urgency to snag a property as soon as it hits the market.