September 30, 2026 · 2 min read
Cody Housing MarketSeptember 2026
Cody is still a buyer's market, with 7.2 months of supply on the shelf, meaning it would take a little over seven months to sell every home listed at today's pace. That's down from 7.6 last month, so things are tightening, not loosening. The bigger story is what moved underneath: sellers raised their asking prices and buyers paid more too, with the median sale price over the last 12 months up to $485,000 and median asking price up to $691,500.
What's actually happening
Last month I said sellers were cutting asking prices to meet the market instead of waiting for buyers to come up. This month that flipped. Median asking price jumped 2.4 percent to $691,500, and the median sold price over the trailing 12 months rose 1.7 percent to $485,000. Sellers didn't back off. They pushed, and the market absorbed some of it.
The gap between what sellers are asking and what homes are actually selling for, per square foot, is now 11.8 percent (asking $270 per square foot against $242 actually paid). That's narrower than the 13.6 percent gap I reported last month, but it closed because sold prices climbed, not because sellers got realistic. Worth watching whether that holds.
Timing tells the same story from a different angle. Homes that actually sold took a median 49 days on market. What's sitting active right now averages 95. That's a wide split: price a home right and it moves in under two months. Price it like the current crop of active listings and you're looking at double that, or longer.
Zoom out to a year and the picture is steady, not hot. Median sale price is up 2.1 percent from $475,000 a year ago, but the number of homes sold is down 3.2 percent. Fewer deals, slightly higher prices. The 30-day pipeline backs that up: 30 new listings came on, 28 closed, and only one went under contract. Closings are still working through deals made earlier. New contracts are thin. The typical sold home is a 3-bedroom, 2-bath single-family residence around 2,109 square feet, with most sales landing between $385,000 and $660,000.
If you're buying
You still have the leverage. At 7.2 months of supply, this is a buyer-favored market, and the gap between asking and actual sale price, $270 versus $242 per square foot, is real room to negotiate, especially on anything that's been sitting closer to that 95-day active average. Single-family residences priced in the $385,000 to $660,000 range are where most of the activity is, and that's where a reasonable offer still has the best shot at being taken seriously.
If you're selling
The market gave you a little room this month, with sold prices up and the gap narrowing to 11.8 percent, but don't read that as permission to chase the market up on your own list price. Price closer to the $242 per square foot that's actually closing, not the $270 the active listings are asking, and a 49-day sale is realistic. Price toward the asking side of that gap and you risk joining the stack of listings sitting at 95 days with only one home in the whole market currently under contract.
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 September 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.
