Cheyenne May Market Insider
The data on this page is consolidated from multiple sources and includes current listings, recent sales, and more. Whether you're a buyer or seller, the knowledge you gain will help put you in control of your real estate transactions.
Call (307-632-2355 or email me anytime to discuss how this information can benefit you!
Housing Market Trends - Sold vs. Listed
First you must understand the difference between "listing prices" (what sellers are asking for) and "sold prices" (what buyers are willing to and have paid).
By comparing these price trends, you'll have a good idea of where the market is heading. The median listing and sold property prices are calculated based on the market activity each month.
Some sales are not immediately available from public records. As they become available, the data are updated.
Housing Inventory Trends
Let's look at the number of ACTIVE listings in CHEYENNE (82007). These are listings that are currently for sale. May was a great month because inventory increased by 8.9% from the previous month. We have been low on inventory (meaning homes for sale) for a while now and this is a great sign that we may be seeing more!
The median number of days active properties have been listed is 46. This is significantly shorter than the national average. Another good sign that we are in a great market right now. Interest rates are low, our inventory is up and the number of days that a property stays on the market is down. Sellers are happy to move more quickly and buyers are thrilled that they have more homes to choose from.
However, the number of home sales in February, dropped by 28.6% from January. This was major but the market bounced back very quickly and we are back on a roll.
Housing trends seem like they should be easy to predict, but there are many factors that influence the market. We have a fairly new president and the economy is very hard to predict. President Trump's choice not to enter the Global Summit is a good thing for Cheyenne because we have the oil here.
The percent of rental properties in CHEYENNE (82007) is 12.62% above the national average which is typical for urban areas. This is great news for F.E. Warren AFB because their personnel can find affordable offsite living options. And, with the interest rates remaining low, if the personnel will be stationed here for some time, it's almost better to purchase a home and begin building equity.
Additional Statistics for Single Family Homes and Condos in CHEYENNE, WY
Median Listing Price: $238,240
Median Days on the Market: 46
Active Listings: 102
Distressed Listings: 1%
Cheyenne listings last updated Jun 6, 2017 12:20:pm.
The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed. Copyright© 2017 Cheyenne MLS.