Welcome 2018! After a record breaking year for Laramie Land Company in 2017, we are looking forward to 2018 and becoming even better Realtors for our clients. We had an active year with welcoming Patricia Leatherwood in our office in early 2017 and then also welcoming new agent Lindsay Merseal. We are nine associates strong now, all with various backgrounds and expertise. We strive this year to think of new ideas for marketing our properties, and ourselves, yet we know marketing is not the only thing that sells homes. It is in our service and knowledge we bring to our clients which we will continually expand on.
If any of you were in the market to buy in 2017, most probably thought…where are the houses? It seems inventory was low all year long, and still is low heading into the new year. Home’s under the $250,000 still remained the most lucrative. Even with limited inventory there was a slight increase in sales of 2.5% year over year for the residential market with the south central and southeast markets having the largest gains of sales. Average home sale price for the market was $241,414, a 2% increase from 2016.
Land sales also increased in 2017, almost 24%. In the past few years, there have not been many county listings with homes, therefore, developments are starting to sell inventory for those willing to go through a new construction build. In addition, construction companies/developers have taken notice, and started building homes in the county.
While overall the economy of Wyoming, and Laramie, has gone down the past few years, the real estate market has remained solid. The new commercial builds for Bright Agrotech, Tungsten Steel, Hi-Viz as well as the new Game and Fish Building, is a positive sign for Laramie and growth into 2018.
With the state of the market right now, if you plan on selling this year, we suggest getting your home on the market as early in Spring as possible, if not now! Call us today if you would like any advice on getting your home “show” and “sell” ready.
For additional market information or questions, please don’t hesitate to give us a call or email.