July 31, 2026 · 3 min read
Cody Housing MarketJuly 2026
Cody is still a buyer's market, but two things happened at once this month that pull in different directions. Sellers pushed the median asking price up to $699,000, a jump of 3.7 percent from last month. At the same time, active listings are sitting for a median of 78 days, up from 56 days last month, while homes that actually sell are still closing in a median of 49 days. The gap between what sellers ask and what homes sell for, per square foot, narrowed to 14.1 percent from 18 percent last month. Supply eased too, down to 7.7 months of inventory, which is how long it would take to sell everything on the market at the current pace. Buyers still have the upper hand here.
What's actually happening
The 30-day pipeline shows the market still moving despite higher asking prices: 22 new listings came on, 34 went under contract, and 25 closed. That's a normal clip for Cody. What's changed is the spread between the homes that sell and the ones that don't. Sold listings close in a median of 49 days. Active listings, the ones still sitting, now carry a median of 78 days on the market, up sharply from 56 last month. That 29-day gap is the real story: buyers are still moving on the right homes and passing on the rest for longer than they used to.
Sellers are asking about 14 percent more per square foot than what's actually closing, $275 asked versus $241 sold. That's down from an 18 percent gap last month, real progress, but it's still wide enough that pricing off last year's numbers or a neighbor's asking price will cost you time on market.
Back in June I said the gap was holding near 18 percent and would keep widening as supply climbed past eight months. That didn't hold. Supply came down to 7.7 months and the gap narrowed instead. What didn't change is the split I called out then: correctly priced homes keep selling in about seven weeks, and the rest keep drifting further from that pace.
The year-over-year numbers back up the same story. The median sale price is up 6.5 percent from $460,000 a year ago to $490,000 now, but the number of homes selling is down 2.1 percent. Fewer sales, higher prices, a market getting pickier about what it will pay. The typical sale is a 3-bedroom, 2-bath single-family residence around 2,080 square feet, with most sales landing between $370,000 and $640,000.
If you're buying
With 152 active listings and only 34 under contract, there's real room to shop and negotiate on single-family residential properties in Cody right now. Supply at 7.7 months means there's more for sale than the market can absorb quickly, and that favors buyers on price and terms. The best leverage is on listings that have been sitting past that 78-day median. Homes priced close to the $241 per square foot that's actually closing move faster and leave less room to negotiate, so know which kind of listing you're looking at before you write an offer.
If you're selling
The gap between asking and selling narrowed this month, but 14 percent per square foot is still a real number. Price to the $275 asking median and expect to sit closer to the 78-day active pace, or longer. Price closer to what's actually closing, around $241 a square foot for a typical home in the usual $370,000 to $640,000 range, and you're looking at something closer to the 49-day median for sold homes. With 7.7 months of supply on the market, buyers have options. Pricing discipline is what separates a 49-day sale from a listing that's still sitting at 78 days and counting.
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 July 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.
