3rd Quarter Market Update

    3rd Quarter Market Update Blog

    What’s happening in the Cheyenne WY real estate market? 

    If you are wondering if now is a good time to buy or sell a home, then let these 3rd quarter statistics help guide you. We are fortunate to have a strong real estate market here in Cheyenne!

    Statistics!

    • The average days on market is approximately 40. That’s a great number, less than two months!
    • The number of days to sell your home will depend on your price range, how well the home is priced in the market, your home’s condition, and the marketing plan your agent puts into action to get your home in front of as many people as possible.
    • Homes in town are selling approximately 25 days faster than rural properties.
    • Homes in the $200,000 to $250,000 price range are moving the quickest.

    Negotiation! Another interesting stat to be aware of is the list to sold price. The average list price is approximately $265,000 with a sold price of $260,000. So you should expect some negotiation on the sales price of your home. The great news is that sellers are seeing 97.5-98.5% of their list price.

    Rates! With the interest rate around 4.125% you’ll get more for your money than even another .5% increase in the rate. This means now, rather than later is better for home purchases – more bang for your buck. This is also important for budgeting and planning purposes whether you are buying a new home, selling an existing home or both. Interest rates effect all sides of the transactions.

    If you are ready to buy or sell, then now is a great time according to the latest stats from the Cheyenne MLS! Give us a call to get started, 307-635-0303 or contact one of our Buyer Specialists or Listing Specialists today! We are here to help you whether it is your 10th real estate transaction or you are a first time home buyer!

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