Filtering by Tag: gillette wy real estate market trends
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!
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.