Cheyenne Real Estate Market Update

How is the Cheyenne WY real estate market? 

November was a strong month for real estate sales in Cheyenne. If you are considering your options to buy a home or sell your home during the holidays, then take a look at the statistics and consider a few reasons why it may be the perfect time for you.

Statistics!

• The average days on market is approximately 37. That’s a great number, just over a month!
• The number of days to sell your home will depend on your listing price, if the home is well priced for the market, the home’s condition, and the marketing plan your agent uses to get your home in front of as many potential buyers as possible.
• 161 homes sold in November equates to five homes sold per day.
• $200,000 to $250,000 price range is selling the fastest.

Negotiation! The list to sold price is helpful to know if you are selling or buying a home. The average list price is approximately $257,000 with a sold price of $254,000. Expecting some negotiation on the sales price of your home will allow you to make decisions based on logic and not emotion. The great news is that sellers are seeing 98.5% of their list price.

Rates! Interest rates are still hovering around 4.125% which is a low rate. You’ll get more for your money than even another .5% increase allows. This means now is a great time for home purchases, a bigger bang for your buck. For budgeting and planning purposes whether you are buying, selling or refinancing it is helpful to know the rates, so you can calculate payments. First Interstate Bank has several resources on their website to help get you started.

Now is a great time for real estate action according to the latest stats from the Cheyenne MLS! Call us at 307-635-0303 to get started or contact one of our Buyer Specialists or Listing Specialists today! We are here to help you.