We don’t 100% know what the situation will be in the world, Wyoming or our community, but what we imagine is a continuation of Wyoming being strong!
And in all honestly, we will come out of this stronger than ever. We’ve always been a state that is fiercely independent, yet willing to give so much to our neighbor. It has been amazing to watch some of the strength and forward-thinking that has occurred during this COVID-19 time; for instance, cruising the main street has become in vogue again, technology tools have worked to create 3D printer face masks, Small Businesses Cheyenne the Heart of Cheyenne creation, and community members coming together to wait in three-hour lines for a donut just to help a local company succeed. We have a great place here in Laramie County to work, live, and raise a family!
For us, we have been so grateful the real estate market continues to move at a great pace! So far in May, we are seeing an average of 34 days on the market for listings with an average home sale price of $304,000. Recently Lisa Tabke, Association Executive for the Cheyenne Board of Realtors and Laramie County Multi-list Service, indicated that our market is ahead of where we were last year for closed transactions.
One of the biggest connections we have valued during this time is our close connection with RE/MAX, LLC, and the global experience we can draw from them. We have been on zoom meetings with brokers from all around the world, such as, Italy, Canada, and the East Coast. It has allowed us to prepare for what was to come and to count our daily blessings for the resiliency of our great state of Wyoming. On the East Coast, brokerages and agents were shut down from showing homes, so they have no transactions on the books for June or July. For the real estate agencies that means no income, for the consumer that means no moves are occurring. For buyers, it has been especially challenging. Many have experienced canceled contracts or haven’t been able to locate an ideal home because of the limited inventory. As a seller, it means that your home may sit on the market longer for the right buyer to come forward. No matter the size of the transaction, there are challenges to account for each deal.
Today Wyoming’s neighboring state, Colorado, has reopened its real estate market and it seems to be picking up where it left off. This holds for Laramie County too. Military moves are slowly starting up again. Consumers are comfortable listing and buying homes. Our title companies and lenders have done a phenomenal job of continuing to close home transactions, even with the mandated social distancing. The only place where the outcome is not as positive as in the oil and gas industry for housing needs. Nevertheless, we are a state that is strong because we have grit. This comes with our values, ability to adapt, and skill to overcome. Wyoming is our home, Wyoming gives us strength, and this leads us to our campaign of “Wy(HOME)ing Strong.” We know that we will achieve better outcomes because we have this amazing combination. So stand Wy(HOME)ing Strong!