Written by Breanne Hunter & Wendy Volk

It’s not uncommon to hear the concerns spreading across the country about the housing market. The uncertainty around mortgage rates, the increased pricing, and the fear whether homeownership is even possible are concerns we share with our clients every day. However, the best way to fight that fear is with information and real estate statistics can tell us a lot about what’s really happening in the market for our community.

Cheyenne is a great market that doesn't see the high highs and the low lows that other parts of the country see, so always talk to a local expert for regional market information as opposed to the national news. Whether you’re planning to buy or sell, understanding the local market alongside a licensed real estate agent can help you make more informed decisions as you navigate the buying or selling process.

In this article we’ll dive into the market data pulled from Cheyenne MLS^† (Multiple Listing Service) for the Cheyenne, Laramie County and surrounding areas in southeast Wyoming.

† The Cheyenne MLS (Multiple Listing Service) is a local real estate database and cooperative information network operated by the Southern Wyoming REALTORS® Association in Cheyenne, WY. To join the Cheyenne MLS, brokerages must be members with the Board of REALTORS® and in good standing.

Note: Data is based on information from Cheyenne MLS. Not all properties were listed and/or sold by #1 PROPERTIES. This representation is based in whole or in part on content supplied by Cheyenne MLS. Cheyenne MLS does not guarantee, nor is it in any way responsible for its accuracy. Content maintained by Cheyenne MLS may not reflect all real estate activity in the market. All information deemed reliable but not guaranteed, and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor #1 PROPERTIES shall be responsible for any typographical errors, misinformation, misprints, etc, and shall be held harmless.

What Does the Housing Market Actually Look like in Cheyenne and Southeast Wyoming right now?

A home is a valuable asset and whether you’re buying or selling you want to make sure you have a pulse on the local market so you can plan your strategy carefully.

Several promising things from our data show that so far in 2026 (January-September) there have been 1,386 homes sold with an average of 34 days on the market and an average sold price of $437,000^†. Our 2025 data shows that at this time last year, 1,396 homes had been sold with an average of 40 days on the market. This tells us that while the number of homes sold so far this year is barely lower than where the market was last year, homes are selling around 6 days faster.

† Averages based on total number of all residential homes sold by all brokerages in Cheyenne, not just #1 Properties.

20 years of Cheyenne Real Estate: What Does History Tell Us About Today’s Housing Market

Twenty years ago, Laramie County frequently had between 800 and 950 homes available for sale. Over the following 15 years, inventory declined dramatically, reaching exceptionally low levels in 2021 and 2022, when fewer than 100 homes were available at certain points.

Today, inventory has recovered to approximately 350–375 homes. While that represents welcome improvement for buyers, we are still operating with substantially fewer available homes than we experienced two decades ago.

What's particularly interesting is that the number of homes selling each month has not experienced the same dramatic long-term decline as inventory.

Our second graph illustrates how monthly home sales reached particularly strong levels between 2017 and 2021, followed by more moderate sales activity in recent years.

So, what does this mean for you?

For buyers, the recovery in available housing inventory means more choices than during the exceptionally competitive market of 2021–2022.

For sellers, increased inventory means pricing, property condition, presentation, and marketing strategy have become increasingly important.

For our community, these trends also raise broader questions about housing availability, new construction, affordability, and how Cheyenne will accommodate future population and employment growth.

What does the year's market mean for buyers?

The market overview provides some valuable insights for buyers. In 2025, the end of year results show a total of 1,778 homes sold. While current data for the first 9 months of this year is at 1,386 sold homes, the market is still on track to produce similar end of year results as last year. For someone buying a home, this is encouraging as it shows homes are hitting the market and being sold at a consistent pace so there will be options when ready to close.

Another insight that's helpful for planning a timeline is that once a home goes under contract, the market data shows an average of 34 days to closing, assuming the process moves forward without a hitch. Keep in mind that there are variables that can reduce or extend that average so it's important to build a buffer into your timeline.

While the number of sales alone doesn't tell us how competitive the market is, it does reinforce the importance of being prepared when the right opportunity comes along. Working with a local real estate agent early in your search can help you understand what's available within your budget, recognize how quickly comparable homes are selling, and develop a plan so you're ready to make informed decisions when you find a property you love.

Another helpful tip is that understanding your financing options early can help you prepare for the search and process ahead. A knowledgeable agent and qualified lender can help you understand how your financing choice may affect your home search and purchase process including overall timeline, for saving for a down payment, shopping around for different mortgage rates and exploring various loan options.

In fact, another fun little tidbit from our data (shown below) is that despite conventional and cash making up almost 60% of loan options when purchasing a home, there's still plenty of room for those who plan to use VA or FHA loans.

What does it mean for sellers?

On the flip side, this information tells another helpful story if you’re looking to sell. While every home is different and the value it’s set on can vary depending on a number of factors there are several encouraging things.

Seeing the volume of homes can be a bit intimidating but despite the reported number, that 34 day average that homes are on the market is going down, which means they're selling faster!

It’s important to keep in mind that the selling success of a home has to do with a number of factors and while we won’t jump into the specifics in this article, coordinating with a real estate agent to make sure your bases are covered can make all the difference.

#1 Properties is Positioned to Place You as number ONE

Our clients are our mission and we’re always mindful of the needs of each person, family or business that we work with each property that’s placed in our care. That said, we believe market information should do more than tell you what's happening in Southeast Wyoming real estate. It should help you understand your options, make informed decisions, and take meaningful steps toward your own real estate goals.

And while we're proud to be a leader in our local market, we know that position is built on something far more important than numbers: the trust our clients place in us.

From January through September 2026, #1 Properties recorded approximately $259 million in residential sold-listing dollar volume, more than 2.6 times the volume of the next-highest brokerage in the Cheyenne MLS comparison. That represents approximately 44% of the total residential sold-listing dollar volume in the market reflected by the report.

Those numbers represent more than our company's market presence. They reflect the many opportunities our agents have to work directly with buyers and sellers, observe changing market conditions, and develop firsthand knowledge of what influences real estate decisions throughout our community.

About #1 Properties

#1 Properties is proud to be the foremost real estate brokerage in Southeast Wyoming. Starting in 1984, we have had an unwavering commitment to knowledge, exemplary service, and deep-rooted community involvement across all facets of the real estate industry. With each passing year, we have strived to strengthen our presence and enhance our capabilities in order to better serve our clients and the communities we are privileged to be a part of. Contact us today.

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