Housing Market

Overview

Supply

Wyoming Housing Market Overview

House prices in Wyoming surged an impressive 10.3% over the past year, reaching an average of $410,000 statewide. Wyoming real estate demonstrates exceptional strength with substantial price growth, and sellers benefit from continued robust appreciation in property values.

The number of Wyoming homes sold increased dramatically to 378 properties versus 307 in January 2024. This represents a remarkable 23.1% growth in transaction volume year-over-year. The Wyoming housing market maintains a 69-day median time on the market. This timeline increased slightly by only 4 days from last year.

What Does It Mean for Home Buyers and Sellers?

If You're a Buyer: The Wyoming real estate market is challenging, with house prices rising 10.3% this year. The average home price now stands at $410,000, requiring a flexible budget. Homes in Wyoming sell in about 69 days, so acting quickly is key. With 23.1% more transactions, competition is high. Ensure your financing is ready before starting your search. To find better value, consider expanding to nearby areas.
If You're a Seller: Houses for sale in Wyoming are appreciating fast, with prices up 10.3% and substantial equity gains. Price your home strategically around the $410,000 average housee price to attract buyers. With transactions up 23.1%, demand is high. Professional marketing maximizes your advantage in the Wyoming housing market.

Wyoming Housing Supply

Houses for sale in Wyoming dropped to 1,461 listings this January, marking a 3.6% decline in inventory year-over-year. Meanwhile, new listings in the Wyoming real estate market grew by 2.2%, adding just 460 fresh properties to the competitive market.

The average home price in Wyoming continues to rise due to limited supply. The market remains tight, with only a 4-month inventory, down one full month from last year. A balanced market typically needs 6 months of inventory, keeping house prices in Wyoming on an upward trend.

What Does It Mean for Home Buyers and Sellers?

If You're a Buyer: The Wyoming real estate market offers fewer options than last year. Available houses for sale in Wyoming dropped 3.6% to just 1,461 properties. Your search requires flexibility with limited inventory to choose from. The 4-month supply indicates that strong seller's market conditions persist. New listings increased slightly with 460 fresh properties added to the market in January 2025. Watch for these new options and prepare to act immediately. House prices in Wyoming will likely continue rising with supply constraints. Consider expanding your search criteria to improve your options.
If You're a Seller: Houses for sale in Wyoming face minimal competition in today's market. The Wyoming housing market favors you with just 4 months' supply. Your property stands out among only 1,461 competing homes statewide. The average home price in Wyoming benefits from these supply limitations. Price strategically to capitalize on the favorable supply-demand balance. Expect continued strong interest despite the slight increase in listings.

Wyoming Housing Demand

The Wyoming housing market demonstrates solid demand with distinct competitive patterns. In 5% of transactions, Wyoming houses for sale achieved above-list prices, a slight 0.4 percentage point increase from January last year. The Wyoming real estate landscape maintains steady demand across most regions. Sellers typically consistently receive offers close to their asking prices.

Recently, 17.9% of Wyoming real estate listings experienced price reductions, a three percentage point increase from 14.9% last January. The average sale-to-list price ratio improved to 95.9%, increasing substantially by 5.4 percentage points from the previous year.

What Does It Mean for Home Buyers and Sellers?

If You're a Buyer: Wyoming real estate requires a strategic approach despite some price adjustments. The 17.9% of listings with price drops present targeted opportunities. Focus your search on properties that have reduced their initial prices. These Wyoming homes for sale may offer better value and negotiation possibilities. Expect to pay approximately 95.9% of the list price and prepare comprehensive offers with minimal contingencies to appear competitive.
If You're a Seller: The Wyoming housing market strongly favors you with improving metrics. Price your home strategically based on recent comparable sales data. Avoid overpricing that might force you into the 17.9% who reduced prices. Your property will likely sell for 95.9% of the asking price. Real estate in WY commands almost full value with this improved ratio. Create competitive interest through home staging and photography.

Is It a Buyer's or Seller's Market in Wyoming?

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Buyer

Buyer

Balanced

Seller

Strong
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Buyer’s Market

Seller’s Market

Strong Seller: Sellers can close deals quickly. Buyers feel overwhelmed amid low inventory, price jumps, and bidding wars.

Is It a Buyer's or Seller's Market in Wyoming?

Houses in Wyoming continue to command premium prices, with home values up 10.3% to $410,000 this January. Sales jumped 23.1%, showing strong buyer demand despite rising costs. Sellers hold the advantage in most transactions.

Wyoming housing prices keep climbing as inventory shrinks. Available houses for sale fell 3.6%, leaving just four months of supply---well below the six-month balanced market threshold. New listings are up slightly, but they can't meet demand, keeping pressure high.

With fewer options, buyers face tough competition. Wyoming housing prices now reflect higher sale-to-list ratios, meaning sellers are getting closer to the asking price. To stay competitive, buyers should prepare strong offers above the list price.

Wyoming Housing Market Insights

The Wyoming housing market shows substantial seller advantages in current trends. Home prices in Wyoming jumped by 10.3% across the state, and sales volume increased by 23.1% from last year. Available inventory dropped 3.6% during the same period, and supply months fell from 5 to 4 year-over-year. Wyoming houses now sell at 95.9% of the list price. Sellers should list homes near market value now. Price slightly below other Wyoming houses sold in the area to spark bidding wars. Consider minimal renovations for maximum return on investment.

Buyers face tough competition but show more careful consideration. Get pre-approved before house hunting in Wyoming. Focus your search on Wyoming houses within 90% of your budget. Attend open houses during the first weekend of listings. Submit offers with minimal contingencies when possible. Consider escalation clauses for highly desirable homes in Wyoming. Look beyond prime locations for better value. Research sold prices in target neighborhoods yourself. Move quickly when you find suitable properties.

Nationwide Migration Trends

According to the latest US census data, Wyoming has a balanced migration pattern. Over 22,000 new residents moved in, and 22,000 old residents moved out of the state. Most new homebuyers arrive from Colorado, Arizona, and Texas. The rebounding energy industry and lower cost of living offer economic opportunities, drawing families to the Wyoming market. Cities like Mills and Pinedale welcome the most new residents.

This migration pattern reflects the broader trends in the cost of living index. Wyoming's index is 7.2% lower than the national average.

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Frequently Asked Questions

How have home prices in Wyoming changed over the past years?

Wyoming median home prices have continued to rise over the past years, driven by high demand and low inventory. The average home price in Wyoming has increased at an astounding growth rate of 10.3%, with some regions seeing double-digit percentage growth. To know your home's worth, use our free home value estimator.

Are housing prices in Wyoming dropping?

No, home prices in Wyoming aren't dropping broadly, but they show varied local trends. Statewide prices rose 10.3% YoY in January 2025. Experts forecast sustained growth in 2025, though the rise in homes for sale in Wyoming may moderate prices in overvalued areas.

What's the average house price in Wyoming?

The average house price in Wyoming varies depending on location, size, and market conditions. The median price is typically $410k, but single-family homes can cost $514k.

What is the Wyoming housing market forecast for 2025?

The Wyoming housing market is expected to stabilize in 2025, with steady price growth and moderating mortgage rates. The inventory of Wyoming houses will continue to increase, stabilizing the price growth.

What is the average mortgage rate for home buyers in Wyoming?

The average mortgage rate for home buyers in the Wyoming housing market fluctuates between 6.23% and 7.0%. When you apply for a mortgage, check your credit score and the current mortgage rates with lenders.

How does the Wyoming housing market compare to the national market?

The Wyoming housing market performs better than the national market, as evidenced by the high number of homes sold and the active-for-sale inventory. The state's tight four-month supply indicates intense market competition. These conditions maintain Wyoming's position as a strong seller's market.

Is now a good time to buy or sell a home in Wyoming?

It depends on the current trends in housing prices and inventory in your city. Sellers can benefit from high demand and rising prices. However, if mortgage rates are stable with more than 6 months of supply, it's the best time to buy a house in Wyoming.

Which are the best places to buy a house in Wyoming?

Rawlins and Torrington are the top choices for value-seeking buyers in Wyoming. Their median home prices are well below the state average of $410k. Both cities rank among the cheapest places to live in Wyoming, alongside other promising locations for budget-conscious homebuyers.

Is the housing market going down in Wyoming?

It's implausible that the Wyoming housing market will crash. Prices are projected to experience sustained growth through 2025. Home prices in the state will grow along with the housing demand.

What is the cost of living in Wyoming?

The cost of living in Wyoming sits at an index of 92.8. The state costs 7.2% less than the national average. The housing index of 80.7 also reflects lower home prices. A median home costs $410k in Wyoming today, on par with the national median. You can find out more with our free Wyoming cost of living calculator.