Laramie’s rolling three-month snapshot shows inventory tightening even as buyer activity picks up. Active listings are up nearly 7 percent year over year, but months of supply has dropped about 38 percent to just 2 months, reinforcing a seller’s market. Homes are going under contract quickly, with the median days on market down slightly from last year to just 12 days.
Prices are reacting to this faster pace of sales. The typical home value over the latest three-month period is up about 9 percent compared with a year ago, while the median list price has climbed more moderately, rising around 4 percent year over year.
Sales and new listings are both higher than a year ago, yet they are moving in different directions month to month. Homes sold are up more than 26 percent year over year, and new listings have grown about 14 percent, even though both new and pending contracts have recently pulled back on a month-to-month basis. Sellers are generally pricing below where they expect to land, with an average sale-to-list ratio of about 93 percent and essentially no homes closing above the asking price in this period. With nearly half of homes going off the market in two weeks or less, both buyers and sellers can benefit from an Agent Pronto–recommended agent who understands how to navigate these fast-moving conditions.
