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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 update

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

Our overall absorption rate has dropped to right around 7 months, while the inventory has slightly decreased, and the pending home sales have slightly risen since last month.  We continue to see the homes under $120,000 (mainly foreclosures) flying off the market.  While these homes are selling the fastest, anything under $275,000 is really in a healthy position.  We continue to remain positive about the market as a whole and confident about its future.  Please contact us when you have questions.  Have a great day!

 

Gillette WY Real Estate Market Update

JORDAN OSTLUND

Gillette WY Real Estate Market Update

The first day of summer is officially here and the Gillette real estate market is alive and well!  Our overall absorption rate has crept up a bit since last month and currently sits at just over 7 months.  A few things that stuck out to us in this month’s report were the very low end of the market as well as the higher end homes that are beginning to move.  On the low end notice that the absorption rate for homes in the ranges of $0 - $119,999 and $120,000 - $139,999 are 2.7 and 3.9 months respectively.  This is due to the influx of foreclosures in this lower price range.  We have seen a lot of foreclosures coming on the market and selling rather quickly.  On the other hand, we have seen some activity in the upper end of the market.  There are currently 12 homes under contract above $300,000.  This is encouraging as there have only been 30 homes above $300,000 that have sold in the previous 6 months. 

Gillette WY Real Estate Market Update

JORDAN OSTLUND

We hope you had a great holiday season and an even better start to 2011!  This is an updated real estate market conditions spreadsheet.   As you can see we still have an overall absorption rate of 6 months.  This tells us we have a very balanced real estate market.  The pending home sales are down a bit since our last update, but this is typical as we come out of the holiday season.  These numbers should begin to climb as we head toward our spring market.  With just over 300 homes on the market in Gillette we are just about perfect on a healthy amount of inventory.  If you have any questions or comments please don't hesitate to contact us.  Also, if you know someone who would like to receive this monthly update please let us know.  Have a great day!