The Jackson, WY metro area housing market is currently experiencing a complex set of dynamics, characterized by significant shifts in pricing and sales activity. As of February 2025, the Median Sales Price has dropped to $799,000, marking a substantial year-over-year decrease of 36.1%. This decline in sales price contrasts sharply with the Median List Price, which has risen by 30.7% to $1,699,000. This divergence suggests a potential disconnect between seller expectations and buyer willingness to pay.

In terms of Price Per Square Foot, the Median Sales Price per square foot has decreased by 33.0% to $486.25, while the Median List Price per square foot has also seen a decline, albeit less severe, at 23.1%, bringing it to $797.35. These figures indicate a downward pressure on actual sale prices, despite higher listing prices.

Sales activity presents a mixed picture. The number of Homes Sold has increased significantly by 64.0% year-over-year, reaching 41 units. However, Pending Sales have decreased by 10.0%, totaling 36 units. This suggests that while more transactions are being completed, the pipeline of future sales is not as robust.

New Listings have increased by 26.3% to 48, contributing to a growing inventory, which is up 18.9% year-over-year, now standing at 226 units. Despite this increase in supply, the Months of Supply has dramatically decreased by 210.0%, now at 5.5 months, indicating a faster turnover of available homes.

The Median Days on Market have decreased by 16.0% to 101 days, suggesting that homes are selling more quickly than they were a year ago. However, the average sale to list ratio remains unchanged at 0.0%, indicating that homes are generally selling at their listed prices, without significant negotiation.

Price Drops have remained stable at 11.1%, with no year-over-year change, while the percentage of homes going off market in two weeks has decreased by 5.6% to 19.4%. This could imply that while some homes are selling quickly, others are lingering on the market longer.

Overall, the Jackson, WY metro area housing market is characterized by a notable decline in sales prices and a rise in sales activity, alongside increased inventory and listing prices. This complex environment suggests that buyers may be gaining more leverage, while sellers are adjusting their expectations in response to market conditions.