According to the Viehman Group’s Jackson Hole Report, the average listing price for a single-family home in Jackson Hole as of April 1 was $10.7 million, indicating that the area’s real estate market is still soaring into rarefied air.
According to the report, sales volume increased 16% in Q1 2025 over the same period the previous year, but median and average sale prices actually decreased by 1.5% and 18%, respectively.
According to analysts, this is a result of an increase in transactions under $5 million, which now account for a larger portion of all transactions.
Despite a slight drop in mid-tier prices, Jackson Hole remains one of the most expensive markets in the country. The upper end of the market—homes priced above $10 million—accounted for 11 sales in Q1, with one home on East Gros Ventre Butte listed at $40 million and another made mostly of glass listed for $60 million.
Despite a slight drop in mid-tier prices, Jackson Hole remains one of the most expensive markets in the country. In Q1, 11 homes sold for more than $10 million, with one on East Gros Ventre Butte listed for $40 million.
This pricing trajectory is consistent with trends in other U.S. resort communities, where second-home buyers—many of whom earn income elsewhere—are driving out local working-class residents.
The result is a transformed town in which the rising cost of living has created a significant gap between housing availability and the locals who power the community.
While Jackson Hole becomes increasingly inaccessible to its workforce, more affordable housing markets exist in the surrounding area—but not for those who want to stay close to skiing.
According to a previous SnowBrains article, towns like Evanston and Rock Springs, Wyoming, which are more than two hours south of Jackson and far from major ski areas, offer homes priced at only 2.5 times the median income.
Los Alamos, New Mexico, stands out for its affordability, with a price-to-income ratio of 2.77, but it is also far removed from the ski resort economy. Full-time workers who want to live near the slopes have fewer and more expensive options.
The gap in Jackson Hole continues to widen. Only 30% of current inventory is under $5 million, while the number of homes priced at $25 million or more is increasing.
And, with 79% of 2025 purchases made in cash, locals who rely on mortgages are increasingly priced out. The long-term concern is that without intervention—such as zoning reform, deed-restricted housing, or employee housing mandates—Jackson Hole’s affordability will continue to deteriorate, potentially harming the very character that made the ski town famous in the first place.
