Thinking about moving to Cheyenne, Wyoming? Below you will see the market trends for last month. This will give you an idea about what is out there and how things are looking for the real estate market in Cheyenne according to AOL Real Estate.
As of last month, there are 480 homes on the marketing in Cheyenne, WY. Majority of the homes for sale are foreclosures making up 52% of the market. The other 237 homes in the market are comprised of resale homes.
From July to August, the number of properties in Cheyenne stands at 24,914. These homes break down in the following percentages:
61% owned
31% rented
7% vacant
The vacancy rate of homes helps buyers determine if a housing marketing has a weak or strong competition. Homebuyers have a lot of opportunities with the vacancy rates being higher than ever right now. This isn’t a bad thing for homebuyers because they will be more likely to find a property they like at a low price.
House appreciation in Cheyenne is currently down 2.6%, signifying a decrease in the market. The housing median value shows the worth of a typical home in the area. In Cheyenne, the current median value is $183,834. The average price of a home for August 2010 was $178,444, which is up over $2,000 from July.
The average number of days homes are on the market can determine how long homeowners are willing to wait to sell their homes. It took an average of 121 days for homes in Cheyenne to go from listing to an approved contract, which is up 21 days since July. Homes are being sold more quickly in Cheyenne than in the rest of Wyoming with the state’s average being 132 days. These figures will help sellers determine how long it may take to sell a house in Wyoming. The maximum number of days on the market is 1019 days.
Times continue to be tough but I am here to help you in any way I can. Please contact me if I can be of assistance in your hunt.
-Joe