JH Property Group is having a strong 2026, with $140 million in Jackson Hole real estate sales already closed this year. What stands out is where more than half of it happened: $71 million sold off-market, outside the Multiple Listing Service (MLS).
Those properties never showed up on a listing website or in the MLS data that most market reports are built on. For anyone hoping to buy in Jackson Hole right now, that is the most important insight of the year. As the Q3 2026 Teton County, Wyoming market report from Jackson Hole Sotheby's International Realty shows, the number of properties publicly for sale in Teton County keeps falling while buyers keep coming.
Inventory Keeps Tightening
In October 2025, more than 300 properties were listed for sale across Teton County. By the end of Q3 2026, that number had dropped to 250.
The squeeze is sharpest for homes. Listings fell from 150 to 125 over the past year, and 31 of those are priced above $10 million. That leaves fewer than 100 homes for sale under $10 million in all of Jackson Hole. Based on this year's pace of sales, the report says the market is on the cusp of a seller's market.
Land is just as scarce. With more than 97% of Teton County protected in perpetuity, vacant land listings slipped from 72 to 68.
Demand Hasn't Slowed
Fewer listings haven't meant fewer buyers. A strong summer, with more than 100 closings and over half a billion dollars in sales from July through September, pushed the Jackson Hole market ahead of its 2025 pace. The 244 closings through Q3 totaled nearly $1 billion.
- Homes led the way. The 133 home sales so far this year are up nearly 25% from the same period in 2025, for $690.5 million in volume.
- The middle and upper segments surged. Sales between $3M and $5M and between $5M and $10M posted 25% more closings than the first nine months of last year.
- Land gained ground. The 34 land sales were up 13%, and dollar volume rose 30% to more than $140 million. The median land sale climbed more than 25%, from $2.05M to $2.575M.
- Condos and townhomes were mixed. The 66 sales were down 15%. Newer short-term-rental units in town, such as One Town Hill and Love Ridge at Snow King, saw price-per-square-foot gains of nearly 20%, while some older inventory softened.
Average and median prices fell year over year, but that mostly reflects where buyers were shopping rather than falling values. The median home sale dropped from $4.175M to $3.4M as more buyers focused on lower price points, and the $10M-plus luxury segment saw 16 home sales compared with 24 last year. According to the report, individual property values have generally held steady, and the decline in listings appears to be supporting them.
Why So Many Jackson Hole Sales Happen Off-Market
When inventory is this tight and demand is this steady, many sellers don't need to list publicly. Some value privacy. Others want to avoid a public price history or days-on-market count, or simply prefer a quiet sale to a qualified buyer their agent already knows.
The result is a market that the MLS only partly captures. The Sotheby's report itself acknowledges limitations in MLS reporting, noting that its data is supplemented with proprietary information for transactions recorded at $0. Independent tracking points the same way: one local report that counts unlisted transactions found that only 43% of Jackson Hole’s luxury sales in 2024 were reported to the MLS.
Our own year shows it clearly. Of the $140 million JH Property Group has closed year to date in 2026, $71 million happened outside the MLS. For our clients, that meant access to homes, land and ranches they would never have found online.
What This Means for Buyers
If you're only watching listing websites, you may be seeing half the market or less. Here's how to see the rest:
- Work directly with a local agent early. Off-market opportunities move through relationships. Share your criteria, budget and timing so we can match you with an owner who may be thinking about selling before a property is ever listed.
- Be ready to move. Have financing or proof of funds in place. Private sales tend to go quickly and quietly.
- Be flexible on how you search. Some of the best opportunities come from owners who weren't actively selling until the right buyer came along.
Thinking about selling? A private sale isn't right for every property or every seller. We can walk you through whether an off-market approach or a full public launch makes the most sense for your goals.
To explore homes, land and ranches in Jackson Hole, including properties you won't find online, contact us at [email protected] or (307) 739-8190. You can also read our Buyer's Guide and Seller's Guide.
You can view the full Teton County, Wyoming Market Report for Third Quarter 2026 below.
