Wyoming Real Estate Market Cooling Down Just a Bit; Homes in Mountainous Areas Still Hard To Find

There is a much wider selection of homes available in Wyoming than there was at this time just a few months ago depending on where youre looking.

Wendy Corr

August 26, 20213 min read

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(Cowboy State Daily Staff)

The housing market has been on fire in Wyoming since the pandemic last year persuaded city-dwellers to look to this mostly rural state to escape the restrictions of urban life.

But if one takes a look at real estate listings right now, there is a much wider selection than there was at this time just a few months ago — depending on where you’re looking.

Lance Bower, a Cody real estate agent, said high-quality homes that are ready to move into are still difficult to find in towns that are close to picturesque, mountainous areas.

“Well maintained properties are challenging for buyers to find in these mountain corridor towns,” Bower notes. 

Bower’s observation holds true in Sheridan, where a search of home listings garners just one with a price between $200,000 and $500,000 — described as a “timeless home in a great location… settled on an 11,900 square foot lot with mature trees, alley access, a one car tuck-under garage.” Built in 1959, it lists for $349,900.

But in the other corners of the state, there area a few more options. 

A search revealed 13 single-family homes between $200,000 and $500,000 in Evanston, where the highest-dollar option is a “spacious 6 bed/3.5 bath home on a quiet cul-de-sac. The kitchen, living, and dining rooms boast extra tall vaulted ceilings…” for $495,000.

If you’re looking in a smaller town, your housing dollar goes a bit farther. 

In Buffalo, for example, there are 36 listings in the $200,000 – $500,000 price range. You can choose in town or in the country, on one acre or on 43; brand new or established. Take this house on a large lot, for just $250,000.

In a similarly-sized town, Douglas has 22 listings under $500,000 – including this five-bedroom, custom-built, 4,000-square-foot home on the banks of the North Platte River for $495,000.

Rock Springs is also wide open for the under-$500,000 housing market. There are 36 listings here, ranging from a beautiful 6-bedroom home with a 4-car garage for $465,000 to a brand-new, 5-bedroom, 2-bath home for $239,000.

Cheyenne has a wide range of housing available right now, as well – especially if your standards aren’t set too high or you’re looking for a fixer-upper. 

Take this 2-bedroom home with just over 1,000 square feet. The yard needs some work, but the property has potential – and it’s only $130,000.

But there are literally dozens of homes on Zillow for under $500,000 in the immediate Cheyenne area, including a seven-bedroom, two-bath home for $485,000… which indicates that the shortage of available homes for sale that has plagued the real estate industry since the pandemic began may be coming to a close — at least, in some parts of the state.

“It continues to be a seller’s market, you know, under $500,000,” Bower reports. “Well maintained property are challenging for buyers to find in these mountain corridor towns. So a lot of buyers, once they realize that they can’t find something in the mountain corridor towns, they’re having to pull back into other areas, which do provide a few more choices.”

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Wendy Corr

Features Reporter