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Recap of the Laramie County Real Estate Market

Many folks feel they were still in 2019, but real estate is all caught up in 2022!

While the last few years have been a whirlwind for real estate, we have been guiding many families and investors to successful closings. In 2021 a total of 2,259 homes were sold in Laramie County, which is up from 2020. In total it was an increase of only six homes! RE/MAX Capitol Properties’ average days on the market are 14 days, all of two weeks. This beats the overall Laramie County average of 20 days. The average home price is on the rise being $364,050, and the inflation from 2020 was just over $40k. The selling price on the rise has been great for those homeowners listing, but has made the buying environment extremely competitive. We can anticipate this only thickening in 2022 due to the supply reduction.

Diving further into the predictions for 2022, Steve Prescott shared that interest rates will likely increase mid-year. This will be around 4% but perhaps will see a decrease below 4% after the economy levels out later in the year. When the National interest rates are being assessed for an increase, it is a sign our economy is in a good place. They are looking to address the inflation issue with the demand pressures that need to decrease for the supply to catch up.

If you are interested in learning more about the market and would like to consult a real estate professional about your goals, give us a call or visit.

4000 Central Ave, Suite #1
Cheyenne, WY 82001


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