Wyoming’s housing market is showing signs of stabilization after several years of volatility driven by the COVID-19 pandemic, fluctuating interest rates, and shifting economic dynamics, Jackson Hole News & Guide reports.
While buyers may no longer find large properties at pre-pandemic prices, real estate professionals say the market is becoming healthier and more predictable.
According to a 2025 Spring Trends Report produced by Team Westkott at Concept Z, the frenzied pace of the pandemic-era housing boom — marked by soaring prices and bidding wars — is subsiding. The report notes that factors such as historically low interest rates, urban flight, and political uncertainty contributed to a turbulent real estate environment. Now, market trends indicate a return to more typical conditions.
“We’re getting further from that blip of history [in 2020],” said Desirée Young, a Realtor with Concept Z Home and Property and director for the Sheridan County Board of REALTORS®. “There is more consensus to get back on track, help our economy, and help our neighbor.”
In Sheridan County, where nearly a full year’s worth of housing inventory is currently available — considered high by Wyoming standards — the median home sale price is $442,500. The county is now viewed as a buyer’s market, with inventory increasing 15.3% over the past year. The median estimated property value is $395,170, a 6.8% increase from the previous year.
Statewide, the average home price is hovering around $400,000, reflecting steady but not excessive growth.
Stabilizing interest rates, currently between 6% and 7%, are contributing to the market’s improved predictability.
“When rates were 3%, everyone was like, ‘We have to buy something right now.’ It was a rat race,” said Young. “Now that it’s not like watching the stock market, we have clarity. We can move forward without having to guess.”
Annie Wedgewood, president of the Wyoming REALTORS® and broker/owner of Altitude Real Estate, LLC in Rock Springs, said the real estate outlook across the state is generally positive, though regional differences remain.
“Each county has its own unique challenges and characteristics with respect to real estate,” she noted.
In counties such as Laramie and Natrona, low inventory has maintained strong demand. Laramie County, with only 1.5 months of housing supply, is currently a seller’s market. There, the median estimated home value is $355,000, and the median sold price is $350,000, reflecting a 3.4% increase over the past year.
Natrona County has 1.63 months of inventory and a median home value of $285,920, which is up 4.1% year-over-year. Sweetwater County’s market shows similar strength, with 2.43 months of inventory and a 3.7% increase in home values, which now average $303,000.
Teton County remains an outlier with a median estimated property value of $1.76 million. While the county saw a slight 1.8% decline in values over the past month, prices have still risen 4.3% over the past year. The market there is currently considered balanced, slightly favoring buyers.
One continuing challenge across the state is a limited supply of homes for sale, partially driven by homeowners who locked in low interest rates in recent years and are hesitant to sell.
“Many of those property owners are not interested in selling because they’re attached to the low interest rates,” Wedgewood explained.
This reluctance is contributing to lower inventory levels in many areas.
