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907 E. Boxelder Rd.
Gillette, WY 82718

307.689.1024

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Filtering by Tag: gillette wy real estate market statistics

Gillette WY Real Estate

JORDAN OSTLUND

We had a 3-4 week stint where showing activity was down a bit, but we have seen things pick up again in the last week.  We have especially seen more showing activity in the upper end of the market over the last few weeks.  Here is a breakdown of what the numbers are telling us:

  • Year to date 789 homes have sold .  This is 25 more homes than these dates last year.
  • Our average days on market has dropped for a 6th straight month and now sits at 101 days.
  • Our inventory has dropped slightly from 350 homes last month to 337 this month while our pending sales remained strong at 103 homes under contract.
  • The absorption rate is 4.6 months which is virtually unchanged from the past several months.

Please contact us when we can be helpful.  We are happy to provide additional information or answer any questions you may have.  As always, the greatest compliment you can give us is the referral of a friend or family member.  We are never too busy for your referrals!

Gillette WY Real Estate Market

JORDAN OSTLUND

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

JORDAN OSTLUND

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!

Gillette Wyoming Real Estate Market

JORDAN OSTLUND

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

JORDAN OSTLUND

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!