Springtime is upon us here in northern Wyoming – things are starting to become greener, the snowstorms have (mostly) subsided, and everyone is itching to get outside to enjoy the longer days.
So what’s the latest in Wyoming, in real estate and with our agents? Keep reading to learn more about what’s been going on in the 307 Real Estate world!
Tourists have arrived – everyone wants to experience the wide open spaces!
The energy in Park County has started to buzz as people start to make their way west for spring road trips. Yellowstone National Park’s east entrance opened under 2 weeks ago, and Cody has seen an uptick in the number of people passing through on their way to the Park.
As with most destinations, Wyoming saw a dip in the number of tourists as many of the attractions were closed and group tour buses were not allowed to operate. We are excited to see hotel booking rates rising for this coming summer, AND Yellowstone and Grand Teton National Parks recently announced that they would be allowing tour buses to enter the park (while taking appropriate COVID precautions).
We are excited to see northern Wyoming get back to “normal” this summer!
Real estate inventory continues to be low – and the market is still hot!
Even though it’s been over a year since the pandemic began and the real estate craze started, we have yet to see the real estate market slow down. Inventory continues to be low as does the number of days on the market. With mortgage rates continuing to stay at record (low) levels, people remain incentivized to buy – and buy quickly!
The one question we keep getting from clients (and prospective clients) is how long will this crazy market last?! Forbes recently wrote that national home prices are up almost 16% year-over-year, and buyers in many markets are doing crazy things like buying sight-unseen and waiving all contingencies. While experts agree that the market is hot, they have also said that the current market does not quite meet what would be considered a “bubble” (which could then burst). So, while the market may not crash, we are likely to inevitably see things begin to slow, mortgage rates increase and home prices will once again, start to come down.
We’ll update you on the latest when we know more!
It’s springtime – what are our agents up to?
While our agents are staying busy in the office, they are also pros at taking full advantage of all that springtime in Wyoming has to offer! Keep reading (and looking) to see what they have been up to.
Cody agent Jay Reynolds adventured in Yellowstone National Park with his family
Buffalo agent Mark Wilson enjoying some early morning golf
Sheridan agent JR Moore shows off his pups (and horse)
Cody agent John Krebes attending his grandkids’ athletic events!
We hope that you are out enjoying spring wherever you may be! We feel grateful to be busy in and out of our offices in Cody, Powell, Buffalo and Sheridan. That’s what makes 307 Real Estate the great team that it is.