Julie Malm was our Consider a Rotarian last week. Julie is a licensed realtor-owner for Coldwell Banker - The Property Exchange here in Cheyenne. Julie was born and raised in SE Wyoming and has been a Rotarian since 2003. Julie shared her insight into the real estate market in Cheyenne. The residential market is very competitive and definitely a seller's market with a shortage of available housing because of the number of people moving to Cheyenne. People are moving here from all over the country because of the newly created work at home philosophy created by Covid. The Warren AFB - GBSD is already bringing people to Cheyenne and many more will follow in upcoming years. The low mortgage interest rates have created many refi's and also allowed buyers to look at more expensive housing. The lack of inventory of houses for sale has driven the price up, the basic law of supply and demand. Many higher priced houses sold in 2019 in less than 30 days which is not normal for Cheyenne. As of January 13 there are only 147 single family homes, condos or town houses on the market with $407,000 as the average asking price. Only 6 0f those 147 are town houses/condos and they have an average price of $275,000. There is a great need in Cheyenne for more condos, town homes and apartments. On the commercial property front it's a different story. There is lots of commercial lease space available and 68 commercial properties on the market for and average price of $996,000.
