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.
|Area||Property Type||Average Days on Market||Average List Price||Average Sell Price|
|Cody in Town||Building Only||145||$198,000.00||$175,000.00|
|Cody in Town||Lot/land||159||$109,000.00||$115,000.00|
|Cody in Town||Multi-family||86||$340,000.00||$332,500.00|
|Cody in Town||Residential||147||$283,946.84||$269,950.00|
|Cody in Town||Residential Non-MLS||43||$305,000.00||$300,000.00|
|Cody out of Town||Lots/Land||770||$163,645.45||$136,590.91|
|Cody out of Town||Residential||195||$581,337.29||$552,575.00|
|Cody out of Town||Residential Non-MLS||47||$335,000.00||$331,000.00|
|N Big Horn in Town||Lots/Land||716||$39,900.00||$34,000.00|
|N Big Horn in Town||Residential||181||$171,986.67||$162,900.00|
|N Big Horn out of Town||Residential||110||$179,833.33||$160,666.67|
|Powell in Town||Building Only||1434||$129,500.00||$73,000.00|
|Powell in Town||Residential||195||$209,193.75||$200,912.50|
|Powell in Town||Residential Non-MLS||79||$191,300.00||$191,300.00|
|Powell out of Town||Farm/Ranch||430||$732,500.00||$707,500.00|
|Powell out of Town||Farm/Ranch Land Only||27||$55,000.00||$50,000.00|
|Powell out of Town||Lots/Land||745||$177,112.5||$155,187.50|
|Powell out of Town||Residential||238||$428,527.27||$411,636.36|
|Powell out of Town||Lots/Land Non MLS||43||$307,500.00||$307,500.00|
|S Big Horn in Town||Residential||101||$122,316.67||$114,783.33|
|S Big Horn Out of Town||Lots/Land||230||$112,499.50||$101,250.00|
|S Big Horn out of Town||Residential||102||$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.
|Area||Closed Sale Count||Absorption Rate (Sales/Month)||Active Listings Count||Supply in Months (Listings/Absorption Rate)|
|Cody in Town||35||11.67||41||3.51|
|Cody out of Town||26||8.67||49||5.65|
|N Big Horn in Town||16||5.33||14||2.63|
|Powell in Town||18||6||16||2.67|
|Powell out of Town||11||3.67||16||4.36|
|S Big Horn in Town||6||2||9||4.5|
|S Big Horn out of Town||2||.67||10||14.93|
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.