Northwest Wyoming Real Estate Snapshot

Property Selling Averages

December 1, 2019 – February 27, 2020

This is a snapshot of how properties are selling in Park and Big Horn Counties this winter. Information is given as reported in the Northwest Wyoming Board of Realtors MLS.

AreaProperty TypeAverage Days on MarketAverage List PriceAverage Sell Price
Cody in TownBuilding Only145$198,000.00$175,000.00
Cody in TownLot/land159$109,000.00$115,000.00
Cody in TownMulti-family86$340,000.00$332,500.00
Cody in TownResidential147$283,946.84$269,950.00
Cody in TownResidential Non-MLS43$305,000.00$300,000.00
Cody out of TownLots/Land770$163,645.45$136,590.91
Cody out of TownResidential195$581,337.29$552,575.00
Cody out of TownResidential Non-MLS47$335,000.00$331,000.00
N Big Horn in TownLots/Land716$39,900.00$34,000.00
N Big Horn in TownResidential181$171,986.67$162,900.00
N Big Horn out of TownResidential110$179,833.33$160,666.67
Powell in TownBuilding Only1434$129,500.00$73,000.00
Powell in TownResidential195$209,193.75$200,912.50
Powell in TownResidential Non-MLS79$191,300.00$191,300.00
Powell out of TownFarm/Ranch430$732,500.00$707,500.00
Powell out of TownFarm/Ranch Land Only27$55,000.00$50,000.00
Powell out of TownLots/Land745$177,112.5$155,187.50
Powell out of TownResidential238$428,527.27$411,636.36
Powell out of TownLots/Land Non MLS43$307,500.00$307,500.00
S Big Horn in TownResidential101$122,316.67$114,783.33
S Big Horn Out of TownLots/Land230$112,499.50$101,250.00
S Big Horn out of TownResidential102$349,500.00$337,000.00

In addition to this snapshot, here is a summary of the market conditions for the past three months for residential properties in Park and Big Horn Counties.

AreaClosed Sale CountAbsorption Rate (Sales/Month)Active Listings CountSupply in Months (Listings/Absorption Rate)
Cody in Town3511.67413.51
Cody out of Town268.67495.65
N Big Horn in Town165.33142.63
Powell in Town186162.67
Powell out of Town113.67164.36
S Big Horn in Town6294.5
S Big Horn out of Town2.671014.93

So, what do all those numbers mean? The closed sale count is the number of sold properties in the last three months. Absorption rate is the number of sales divided by the number of months in the report (3 for this one). The Active Listings are the number of residential properties listed for sale right now. Supply basically gives us an idea of how many months it would take to sell out all of the currently active listings if we did not add more.

What does it mean for you? If you are thinking of selling, it’s a good time! Homes that are priced right for their condition sell quickly. Homes that are in move-in ready condition and priced right sell especially fast. Basically, across the board, we are selling properties quicker than we can list them. The catch is they have to be priced right for the property and market conditions. If you work closely with a Realtor, she will help you to determine the best price to meet both your financial and time line goals for selling.

Spring is on the way, and with it a whole new bunch of buyers. As the snow melts the real estate traffic certainly picks up. If I can be of assistance with any real estate needs from buying and selling to simply answering questions, I am happy to help.