Storming into 2017 - Residential
The year commenced almost two months ago but the real estate market appears to be making traction for the year after a slower January. In the past 30 days in the residential market, 334 properties were listed on MLS, 30 properties went under contract with 20 properties sold. Residential sales were up 13% last year compared to the previous year and although this is a small snapshot of the past 30 days it does show a continuation of last year with limited inventory on the market and qualified buyers making purchases.
New construction is still desirable in the market and more lots are available now within City limits in the Northeast market, Grand View Heights and in a new development on the South side of town known as Silver Sage Estates. Another popular area again, with limited homes coming to the market, is the “tree area” around the University which is popular not only with UW employees but students looking to purchase within walking distance to campus.
Most Sellers await nicer, spring weather to market their properties. We inform them the earlier the better, especially with current low inventory on the market in these early spring months. If you are looking to sell in the Spring now is the time to start discussing the market and possible updates you could do to your home to get it “show ready”.
Whether you are looking to buy or sell, we look forward to discussing your real estate needs with you.
Information researched from Laramie MLS, Member