March 30, 2026 · 3 min read
Cody Housing MarketMarch 2026
Cody is still a balanced market in March 2026, and the story this month is a split between what sellers want and what buyers will actually pay. Active listings are sitting at a median asking price of $535,000, up about $15,000 from last month. But homes are actually selling at a median of $479,450, and that gap has widened. Sellers are asking roughly 5.5 percent more per square foot than what's closing. That number was 2 percent last month. The market isn't broken, but it's telling sellers something they need to hear.
What's actually happening
The two biggest moves this month both point the same direction. Active listings are now sitting a median of 55 days on market, down sharply from 123 days last month. That sounds like good news, and in one sense it is, the stale, overpriced inventory that was dragging the average is clearing out. But the homes that are actually selling are moving in 51 days, so buyers and sellers are still operating close to the same pace. The market isn't frozen.
What has changed is the pricing tension. Sellers are asking about 5.5 percent more per square foot than what homes are actually closing at. Last month that gap was 2 percent. That's a meaningful shift in one month. It tells me sellers have gotten more ambitious with their list prices at the same time buyers have held firm on what they'll pay. The median sale price, $479,450, is essentially flat, down less than 1 percent from a year ago, and unchanged from last month. Buyers haven't moved. Sellers have.
Supply ticked up to 6.9 months, from 6.1 last month. Months of supply is simply how long it would take to sell every home currently listed at the pace sales are happening now. Anything near six months is considered balanced, neither side has a clear edge. We're right at that line, but drifting toward more inventory. There are 127 active listings, 21 under contract, and 38 new listings came on in the last 30 days against 15 closings. The pipeline is adding more than it's clearing.
The typical home selling in Cody right now is three bedrooms, two baths, around 2,000 square feet, and most sales are landing between $355,000 and $625,000. Year over year, both price and volume are flat. This market isn't falling apart. It's just honest about what things are worth.
If you're buying
Buyers have more room than they did last month. Supply is up, days on market for active listings is long enough that sellers are starting to feel it, and the gap between asking and selling prices means there's real negotiating space on single-family residential. The homes that are priced right are still moving in about 51 days, so don't expect sellers to panic. But if a home has been sitting, the data is on your side.
The 30-day pipeline shows 38 new listings coming in against 15 closings. More choices are arriving. If you've been waiting for inventory, this is a better moment than last month.
If you're selling
The 5.5 percent gap between asking and selling prices per square foot is the number to take seriously. That's not a negotiating cushion, it's the distance between a home that sells and one that sits. Buyers in this market are not chasing price. They're watching it. If you list above what the sold comps support, you will wait, and waiting in a balanced market with rising inventory rarely ends with a higher price.
Price it to the market from day one. Homes that do are moving in roughly 51 days. That's a reasonable timeline. The sellers who are struggling right now are the ones who listed high expecting to negotiate down. In this market, that strategy mostly just runs up your days on market and signals to buyers that something is wrong.
Data Source
This article is based on verified residential market data recorded in the Northwest Wyoming Board of REALTORS® MLS. Market statistics and inventory levels reflect conditions in Cody during March 2026.
Whether you're considering a purchase, preparing to sell, or simply tracking local real estate trends, the REALTORS® at Richard Realty can help you interpret the data, understand current market conditions, and make informed real estate decisions.
