Gillette WY Real Estate

Gillette WY Real Estate

We have seen showing activity slow the past 3-4 weeks, but it is difficult to tell yet if it is just the typical holiday slowdown or if we are starting to see a reflection of the slower economy.  Looking at the numbers the market continues to look very strong.  Here are some highlights from this month's update:

• We currently have 90 homes under contract down from 103 last month.  However, this is similar to the number under contract at this time last year (91).
• Over the last 12 months there have been 867 homes sold which is the exact same number as sold during the same time period last year. 
• Looking at our past December market reports since 2009 our inventory has ranged from 277-359 homes on the market and 53-91 homes under contract.  We currently sit at 331 and 90 respectively.
• Our days on market and absorption rate have gone unchanged from last month at 101 days and 4.6 months respectively.

Overall the numbers continue to paint a positive picture for the Gillette real estate market.  When you have questions or need additional information please don't hesitate to contact us.  We wish you a very Merry Christmas and a great start to 2016!  As always, the greatest compliment you can give us is the referral of a friend or family member.  Thank you!

Gillette WY Real Estate Market

Gillette WY Real Estate Market

Activity has been very busy across the board.  While this is typical during our spring months, there seems to be a buzz around the market that is indicating something bigger than our typical spring. 

While our inventory and absorption rates had little change from last month, our pending home sales jumped from 109 in March to 126 in April.  A few other numbers worth noting are our average list & sold price and average days on market compared to this time last year.  Our average list price is up nearly $10,000 and sits at $230,647.  Our average sold price is also up just over $10,000 at $209,577.  The average days on market has dropped from 145 days last year to our current number of 134 days.

When you have questions regarding this report or real estate in general, don't hesitate to call on us.  We are always happy to help.  As always, we are never too busy for any of your referrals.  Have a great day!

Gillette WY Real Estate Market

Gillette WY Real Estate Market

It is hard to believe we are already half way through June.  However, we are enjoying the busy spring and a very active real estate market!

Attached you will find our June real state market update.  There are a few things we would like to direct your attention to this month.  First, is the absorption rate.  The overall rate is sitting at 5.5 months which is very little change from our May update.  This shows a balanced overall market.  You will also notice we have seen an increase in activity in the higher end homes.  There are now 15 homes under contract over $300,000. 12 of those are over $350,000 and 5 are over $450,000.  This is a good sign as there have only seen 29 homes over $300,000 close in the past 6 months.  

It is also worth noting that our average days on market has dropped from 153 in May to 146 days in June.  Days on market tells us what has happened in the past while the absorption rate is a forecast of the future market.

We hope this finds you well as we near the beginning of summer.  If you have questions or would like additional information please don't hesitate to contact us.  Feel free to forward this report along to anyone who may find it useful.  Also, if you know someone who may be looking to buy or sell a home we would love to help.  We are never too busy for your referrals!

Gillette WY Real Estate Market

Gillette WY Real Estate Market

Real estate is a very important economic indicator.  In a time where we are hearing some rumors of uncertainty in the energy sector, we are happy to report another month of strong numbers in the market.  The number of homes available changed only slightly to 272 while pending home sales as of today sits at 104.  We have seen pending sales up as high as 116 at different times this month.  Gillette is a resilient community that thrives when much of the rest of the country struggles.  Based on these numbers and the exciting residential and commercial development taking place in our community,  we are of the opinion that Gillette’s near and distant future are very bright! 

Please feel free to pass this update along to anyone who may find it useful.  As always, contact us when you have questions.  We always enjoy talking real estate!

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Gillette Wyoming Real Estate Market

Gillette Wyoming Real Estate Market

A few points of interest in this month’s report are the low absorption rate and the elevated number of pending home sales.  With 276 homes on the market, there is little change in our inventory from last month.  However, the homes currently under contract jumped from 78 last month to 107 today.  Our absorption rate has dropped slightly from last month and sits at 4.7 months.  This number continues to be driven by homes under $300,000, while the upper end of the market continues to lag behind a bit. 

It seems like we never had much of a slowdown through the winter months and we are already seeing evidence of a busy spring market.  We are fortunate to live where we do and looking forward to another great year as a community!  Please don’t hesitate to contact us when you have questions or need additional information.

Gillette WY Real Estate Market

Gillette WY Real Estate Market

We hope this finds you well as we near the holiday season.  Attached you will find the Gillette Real Estate Market Update for this month.  Notice that the absorption rate has continued to drop and now sits at exactly 6 months.  This indicates a perfectly balanced overall market.  However, a closer look at the numbers reveals a tale of two markets.

Homes under $300,000 continue to be the most active.  This price point continues to be driven by foreclosures and new construction.  Buyers and investors have been taking advantage of the deals on foreclosures which explains the very low absorption rate for homes under $120,000.  Buyers are also taking advantage of the new construction between $200,000-$300,000.  We have some builders that are offering quality products at this price point.  Couple that with record low interest rates and it is a very attractive option for many buyers. 

The higher end homes continue to be the slower end of our market.  Low inventory can show some misleading numbers when a couple of sales occur, and we are still seeing these homes sit on the market for longer periods. 

Please don’t hesitate to contact us when you have questions.  Also feel free to pass this along to anyone who may find it useful.  Happy Thanksgiving to you and yours!