How's the Market

Almost everyone I run into asks me the same question " So, How's the Market" . They are surprised to hear the answer. I say "Not Bad". In general the Cheyenne market is not bad. Our home prices are not decreasing, homes are selling and as noted in my last posting we have had an increase in sales from September 2007 to September 2008. So things are not that bad.

We are finding that Buyers are looking for value in the homes they are buying. If a home is priced well and is in good physical condition the home will sell in a reasonable amount of time. The average days on the market in Cheyenne is between 90-120 days. Homes that are perceived to be priced above the market ( even slightly) are homes that the Buyers will bypass and not even consider viewing. The days of pricing your home over the market so there is room to negotiate are over. Price it right to begin with because you may only have one chance with a Buyer.