10-Year Challenge!

So, my broker just gave all us agents in the office some stat updates, and I found the numbers are interesting! I wanted to research some more stats a little further…

Let’s take a journey back to about 10 years ago; like the 10-year challenge everyone is doing right now on social media, but real estate style. Anyways, so the year is 2011/2012. The year the world was going to end, right? Ha! Remember all the little problems we had back then?

But the real estate market 10 years ago was completely different than today! It was coming out of the dropping value stage, and the average home sales price in the US in 2012 was only about $110,000.00 and that is US nationwide average. The nation was still doing some recovering from the 2008 crash but it was getting its repair on! This all means that this was a hot buyer’s market in 2012!

Bringing you back to good ‘ole 2021. AKA: the hottest sellers market in American history. The average price in the US last year was around $389,400.00. WOW, that’s a jump! Most of that was the increase in homes from 2020 and 2021.

Alright, now that you have a little taste for what the US was doing as whole then, let’s talk about the greatest place to live in the world–Cheyenne, WY!

I am scared to look what home prices were back in 2012 here, but I’ll check anyways- and it appears to be up there with the nations average then, like the mid 100s! Cheyennes’ real estate market is usually able to maintain stability.

Ok, now the moment you’ve all been waiting for, the stats that we have for last month in 2021. So, here in Cheyenne, inflation is currently up to about 12%. When I started learning real estate here about 3 years ago, I was told that the average sales price in 2018/2019 was about $269,000 for just residential. What a great price! In 2020, the average price for a residential home here became about $312,000. So, really creeping up there. As of last month, in December 2021, the average purchase price of a home here in Cheyenne was $353,000! I am telling you, that is some great return and equity on that house purchase, but still below the national average, which means, this is still a very affordable place to live. And, like everyone is saying, you cannot build more land, and so land inflation is up to about 21% here, so get your land!

Cheyenne, WY sold 3,500 houses last year as a whole. A little bit about our brokerage here in Cheyenne, NextHome Rustic Realty, is that out of 57 other brokerages in town, we were number 9! And, we had the fewest agents per office! We clearly know a thing or two about real estate in Cheyenne…


So, let us know if you are looking to buy or sell your home here!