why are the prices in laramie wyoming so high and not dropping compared to the rest of the country?
as far as i can tell, there is not industry or job market driving the laramie economy...yet many of the listings are >$100 /sf. i am curious what the average price / sf was 18 months ago, it has dropped all over the country by 15-50% in the last year and a half, so why not in laramie?
I think home prices have come down a little bit but for the most part - have stayed steady because they're selling. Laramie didn't have the huge upswing in prices (thus, the resulting lack of downswing). Homes are worth what someone will pay - and if people are paying it then it sounds like the market is just right. :)
....because buyers continue to pay near the asking?
The way I see it the real estate brokers, assessors and banks are working together to keep prices high. If you drive around town there are a lot of houses sitting with for sale signs that have been on the market for a long time. Something is only worth what someone with money is willing to pay.
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