Executive Summary

Teton Valley's residential real estate market strengthened during the second quarter of 2026, with 67 homes sold, a 15.5% increase from the same period last year. Total sales volume rose 23.5% to approximately $64.6 million, while pending sales surged 65.3%, pointing to continued activity heading into the third quarter.

Pricing results were mixed. The average sale price increased 5.8% to $988,294, while the median sale price declined 3.6% to $806,500. This suggests that several higher-priced transactions lifted the average rather than property values increasing evenly across the market.

Homes also took longer to sell, with average days on market increasing 18.9% and median days on market rising 60.8%. Buyers remain active but selective, making accurate pricing increasingly important.

New listings increased 19.7%, giving buyers more choices. However, months of inventory declined 26.0% to 9.44 months, indicating that available homes are being absorbed more quickly than they were a year ago.

Overall, the market is more active than it was during the second quarter of 2025, but it remains balanced by longer marketing times and price-sensitive buyers. Sellers who price and present their homes correctly are well positioned, while buyers still have meaningful choices but may face stronger competition for the best properties.

Market Detail

Teton Valley's residential real estate market gained considerable momentum during the second quarter of 2026. Compared with the same quarter last year, more homes sold, total sales volume increased substantially, and both new listings and pending sales posted strong gains. At the same time, longer marketing periods and a modest decline in the median sale price show that buyers remain selective.

A total of 67 homes sold during the quarter, up from 58 during the second quarter of 2025. That represents a 15.5% year-over-year increase in closed sales. Total dollar volume climbed even faster, increasing 23.5% from approximately $52.3 million to $64.6 million.

The average sale price increased 5.8%, from $934,094 to $988,294. However, the median sale price moved in the opposite direction, declining 3.6% from $836,500 to $806,500.

The difference between the average and median is important. The average can be pulled upward by a relatively small number of expensive transactions, while the median provides a better picture of the midpoint of the market. In this case, the numbers suggest that higher-priced sales helped lift the average, even as the typical home sold for slightly less than it did one year ago. This is more indicative of a change in the mix of homes sold than a broad 5.8% increase in property values.

Homes also took longer to sell. Average days on market increased 18.9%, rising from 132 to 157 days. Median days on market increased more sharply, climbing 60.8% from 74 to 119 days.

That does not mean demand disappeared. Closed and pending sales clearly demonstrate otherwise. Instead, it suggests that buyers have become more deliberate. Homes that are priced correctly and show well are attracting attention, while overpriced properties are taking longer to generate an acceptable offer. Sellers still have opportunities, but the market is not rewarding aggressive pricing as readily as it did during the rapid-growth years.

Inventory produced another interesting signal. New listings increased 19.7%, from 137 to 164, giving buyers more properties to consider during the quarter. Despite that increase, the calculated months' supply of inventory fell 26.0%, from 12.76 months to 9.44 months.

Although 9.44 months still represents a meaningful amount of inventory, the year-over-year decline shows that available supply is being absorbed more quickly relative to the pace of sales. The market is becoming more active, even if it has not returned to the extremely tight conditions experienced several years ago.

Perhaps the strongest forward-looking number is pending sales. There were 81 pending transactions during the second quarter, compared with 49 one year earlier, a 65.3% increase. Because pending contracts generally become future closings, this points to the potential for continued strength during the third quarter. Some contracts will inevitably cancel or close outside the next quarter, but the size of the increase is still encouraging.

Teton Valley's results also fit within a national market that is gradually improving but remains constrained by affordability. Nationally, existing-home sales in June were 2.8% higher than one year earlier, while the median price increased 1.8%. The National Association of REALTORS® also reported that prices increased in 80% of U.S. metro areas during the second quarter, with the national median single-family price rising 1.5% year over year. However, mortgage rates remain a hurdle: the average 30-year fixed rate was 6.67% as of August 13, according to Freddie Mac.

Sources: NAR June existing-home sales report; NAR Q2 metro price report; Freddie Mac.

Outlook

The second-quarter data ultimately describes an active but discerning Teton Valley market. More buyers are completing purchases, total sales volume is growing, and the pipeline of pending transactions is substantially stronger. At the same time, longer marketing periods and a lower median price reinforce the importance of realistic pricing.

For sellers, this is a market where preparation, presentation, and accurate pricing matter. For buyers, there are more choices, but strengthening demand means well-positioned properties may attract competition. The market has not returned to the frenzy of previous years, and that may be healthy, but it clearly has more energy than it did during the second quarter of 2025.