What’s Happening in Teton Valley Real Estate?
Quarter two gave us a clear view of buyer behavior, pricing trends, and inventory shifts in the Teton Valley housing market. Whether you're thinking about buying, selling, or just staying informed, here's what stood out.
Year-To-Date
On a YTD basis Teton Valley’s residential market (homes only) is showing steady, moderate growth. 124 homes have sold year-to-date, compared to 106 over the same period last year, a solid 17% increase in sales activity. Total dollar volume sold jumped as well, hitting just over $120.9 million, up from $104.3 million in 2024. More deals and slightly stronger prices are driving that growth. A lot of this growth came in the first quarter.
The average sale price climbed to just over $1.02 million, up about 3% from last year’s $991K. The median price stayed relatively flat, inching up to $755K from $752K, suggesting most of the market action is still in the mid-range and upper mid-range, without major swings at the high end.
Properties are taking longer to sell overall. Average days on market (DOM) stretched to 168 days, up from 160, while median DOM improved slightly to 114 days from 124. This tells us the fastest-moving homes are selling a little quicker than last year, but the slow movers are really dragging out the average.
Inventory remains high at about 12.6 months of supply, only slightly down from 13.4 months a year ago. Buyers still have plenty of options, but new listing growth is slowing, 243 new listings this year, compared to 200 last year. Pending sales are basically flat, with 126 this year vs. 125 last year.
Overall, Teton Valley’s market feels balanced: buyer demand is steady, pricing is holding, but homes are sitting longer and sellers are facing more competition. It still looks like one of the strongest value plays in western resort markets, especially for buyers priced out of places like Jackson.
Homes Priced $0 – $999,999
The entry-level to mid-range market showed steady activity this quarter. 44 homes sold in Q2 2025, up slightly from 43 last year, showing consistent demand. Total dollar volume sold rose to just under $28.5 million, compared to $27.6 million last year, a slight increase, reflecting both stable sales figures and slightly higher prices.
The average sale price climbed to around $697K, up from $655K last year, and the median price also increased to $723.5K (vs. $669K). Homes are taking a bit longer to sell, with average days on market (DOM) at 145 days, up from 142, though median DOM improved slightly to 79 days (from 82), suggesting the best-priced homes are still moving reasonably well.
What’s significant? Months of inventory dropped to 9.23 from 17.13, signaling a tighter market. However, new listings fell from 97 to 71, and pending sales dropped from 41 to 29, hinting that buyer urgency may be cooling despite reduced inventory.
Homes Priced $1,000,000 – $2,500,000
In the higher-end segment, sales volume softened. Only 12 homes sold in Q2 2025, down from 18 last year. Total dollar volume also fell to $17.98 million, compared to $26.46 million in 2024. This represents a 47% reduction. That’s a significant pullback.
However, prices remained resilient. Average sale price rose to $1.64M, up from $1.51M, while median price held at $1.47M. This suggests fewer high-end sales, but sellers aren’t slashing prices to move product.
Average DOM increased slightly to 169 days from 155, while median DOM jumped to 171 days (up from 116), showing higher-end homes are taking longer to sell. Months of inventory tightened slightly to 8.45, down from 11.1 last year, but that is likely due to fewer active listings rather than an influx of buyers.
New listings were nearly flat, 26 this year vs. 27 last year, but pending sales dropped from 16 to 9, reflecting softer buyer activity at the top end.
Nationally
The national economy in Q2 2025 looked... mixed. After a slow start to the year, GDP growth bounced back slightly but stayed modest around 1.5%. Inflation doesn’t seem to be a problem at the moment, hovering around 3%. That’s not to say that prices aren’t still high, they just aren’t getting higher at a rapid pace.
The job market’s holding steady and unemployment remains near 4%. This is pretty much considered full employment. Consumer spending’s still decent. Let’s not forget the 10,000-pound gorilla in the room: the stock market, which is currently hitting new highs. The overall outlook for the US economy is definitely mixed depending on who you listen to.
We choose to be a glass half full kind of team. Teton Valley still seems to be the value play in resort market real estate. No other legitimate resort market in the West shows the overall growth potential Teton Valley has. At least that’s our perspective.