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Wyoming Real Estate Summary
The Wyoming real estate market is dropping. For the first time in years, prices have stopped growing at double-digit inflation rates. The economy remains strong and jobs are still being created, but housing has slowed, as well as Wyoming relocations.
Cheyenne real estate is slowing down after a period of large profit and growth. It is a buyers market, with many more houses for sale than what there are buyers for. The average sale price is $170,000, which is 90-95% of the original asking price for the home. Houses are on the market for 60 to 90 days before selling.
Jackson Hole real estate is very exclusive in price and location. It is a resort area well known for skiing and celebrities. The average sale price of a house is one million dollars. There are many more buyers than sellers, driving up the demand even higher. Houses are hardly on the market before one or several offers come in over asking price.
Unemployment is very low for Wyoming. The state will continue to grow as jobs near the cities increase and draw more families in. The cost of living is very affordable and taxes are low, making it a great place to live. | 