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Housing Market 2023, Laramie County, Cheyenne, WY

As we enter into the third month of 2023, the Laramie County real estate market continues to see positive trends. In February 2023, the days on market for listings dropped by 2 days, indicating that homes are selling at a quicker pace. Additionally, the average home price increased by $20,000, showing a healthy appreciation of home values in the area. With well-priced homes and a solid marketing plan, homeowners are finding success in the current market.

At our agency, we’re proud to offer our clients a Complete Listing Program that is designed to help them sell their homes quickly and at the right price. Our program provides comprehensive marketing strategies to ensure that our clients’ homes are presented in the best possible light. If you’re considering selling your home, we invite you to give us a call at 307-635-0303 to learn more about how our program can help you.

Our RE/MAX Capitol Properties, Broker/Owner, Steve Prescott, summed up the housing market in this month’s video.

Now, let’s talk about why homeownership is the best wealth-building tool. Here are three reasons why:

  1. Appreciation of Property Value: Homeownership has historically been one of the best ways to build wealth because property values tend to appreciate over time. By owning a home, you can enjoy the benefits of that appreciation and build equity that you can use later on.
  2. Tax Benefits: Homeownership also comes with tax benefits that can help you save money. Mortgage interest, property taxes, and some home-related expenses are tax-deductible, which can help you reduce your tax bill and save money.
  3. Forced Savings: When you own a home, you have a monthly mortgage payment that you’re required to make. This payment acts as a type of forced savings, as a portion of your payment goes towards paying down your mortgage, which increases your equity in the home.

Thank you for trusting us with all things Cheyenne real estate for you and your family. We look forward to helping you with your real estate needs.

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