Cody Housing MarketApril 2026

The shift from balanced to buyer-favored did not happen all at once, but April is where the data makes it official. Active listings climbed to 138 while only 12 homes closed in the last 30 days. That pace is what produces 7.6 months of supply. Six months is roughly the dividing line between a market that favors neither side and one that tilts toward buyers. We are past it.

The more striking number is what sellers are asking versus what buyers are actually paying. Active listings are priced at about $252 per square foot. Homes that have closed are selling at about $232 per square foot. That is an 8.8 percent gap. Last month it was 5.5 percent. A gap that size does not close on its own. It closes when sellers adjust their price, or it stays open and the listing sits. The typical home selling right now is a three-bedroom, two-bath house around 2,060 square feet, with most sales landing between $355,000 and $615,000.

The year-over-year picture confirms the direction. The median sale price over the trailing twelve months is $475,000, down 4 percent from $495,000 a year ago. Volume is nearly flat, off less than one percent. Prices are easing; the number of transactions is holding. Homes that are priced right are still moving, averaging 50 days from list to close. Homes still sitting on the market have been there an average of 66 days. That 16-day difference is the market's verdict on pricing.

This is a better position than buyers were in last month, and meaningfully better than a year ago. With 138 active listings and only 28 under contract, there is real selection. You are not competing against a crowd on most properties. The 8.8 percent gap between asking and selling prices tells you that list price is a starting point, not a ceiling. That does not mean every seller will negotiate, but the market data gives you a reasonable basis to make an offer below ask and see what happens.

Single-family residential in the $355,000 to $615,000 range is where most of the activity is. If you are looking above that, inventory exists but so does more pricing ambiguity. Take your time. The pipeline shows 26 new listings came on in the last 30 days, so fresh options are still appearing.

The market is telling sellers something clearly right now, and the sellers who are listening are the ones closing. An 8.8 percent gap between what you are asking and what buyers are paying is not a negotiating cushion. It is a sign that a meaningful portion of the market is priced for conditions that no longer exist. If your home has been sitting past 50 days, the price is the most likely reason.

The median sale price is $475,000. If you are listed well above that without a clear reason, expect a long wait. Buyers have options. They are not in a hurry. The sellers who price to where the market actually is, not where they hope it is, are still selling in around 50 days. That is a reasonable outcome. Price to the data, not to the ask side of the ledger.

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 April 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.