Rising market — Local home prices outpace state trend

Weston County’s home values skyrocketed from 2024 to 2025 — surpassing the national average increase — and two local real estate agents expect the growth in appreciation to continue in 2026.

Statewide growth

A national study by Cinch Home Services, a home warranty company headquartered in Boca Raton, Florida, found that Wyoming led the nation in home value increases based on Zillow’s Home Value Index, which averages monthly Zestimate values — Zillow’s machine-learning-based estimates of individual home values — to track pricing trends. 

From August 2024 to August 2025, Wyoming homes gained an average of $18,004, or a 5.17% increase, and since August 2020, statewide values have risen 37.31%.

Kentucky reported the second-highest annual rise, a 4.70% increase, or an average gain of $10,006, bringing its average home value to $222,718. Most states with the strongest recent increases are in the Northeast or Midwest.

“Wyoming’s strong home value growth shows how smaller, less saturated markets continue to pick up in value despite broader market slowdowns,” a Cinch spokesperson said in the release. “On the other hand, markets such as Florida are adjusting after years of rapid appreciation. It will be interesting to see how all of these values change going into 2026, as Zillow has already predicted nationwide home values to be down 0.9% by the end of the year.”

Local conditions

Teigen Marchant, a real estate agent with Keller Williams Realty Black Hills, told the News Letter Journal that Weston County’s local market rose 22% from 2024 to 2025. Rounded to the nearest $1,000, the average sale price in the county — including Newcastle, Upton and Osage — increased from $217,000 to $265,000, he said. According to Marchant, homeowners who bought in 2023 have gained about $64,000 in equity.

Both Marchant and Julie Domina, a WyoDak Real Estate — NavX Realty agent and broker, said they expect home values to continue increasing next year, though at a slower pace. Marchant said the outlook depends on economic stability. Domina said Wyoming’s market has historically been less reactive to national volatility. She noted that Zillow’s predicted 0.9% nationwide decline does not reflect her experience with the state’s steadier conditions.

Marchant said steady growth in Weston County is supported by the area’s tax environment and quality of life, which continue to attract buyers from both within and outside of the state. Domina said Wyoming’s affordability, tax structure and way of life remain major draws, and that local buyer demand mirrors the statewide trend of tight inventory and appreciation.

Inventory in Newcastle — especially of “move-in-ready homes” —  remains limited but has increased slightly, according to Domina, who had two listings as of Nov. 13. She said Newcastle remains more affordable than most of Wyoming, and serious buyers with pre-approval are still finding success.

For sellers, both agents said the current market remains strong. Marchant said local properties have historically appreciated well and often exceed the national pace.

“Homeowners who’ve taken pride in their properties are seeing that care reflected in strong sale prices and quick transactions,” he said.

Domina agreed, adding that “even modest homes in Newcastle have gained value year-over-year.” She said it is “a strong time” for sellers, particularly as out-of-area buyers continue to look to Wyoming for affordability and quality of life.

Marchant cautioned that waiting can be costly for buyers. He said that buyers who delayed purchasing last year missed out on about $48,000 in equity.

“While no one can predict the future with certainty, our local market has demonstrated consistent strength,” he said.

He also noted that homes in the U.S. appreciate about 4% annually, even without improvements.

Both Marchant and Domina said they offer services to help residents understand their options. Marchant said he can provide complimentary market analyses and discuss how trends may affect individual situations. Domina said she provides personalized home value estimates and buyer-readiness plans tailored to Newcastle’s market.

“Real estate is one of the most significant financial decisions most people make, and having accurate, local data makes all the difference,” Marchant said.

Domina noted that Newcastle’s market doesn’t necessarily match that of the rest of the nation.

“It follows local demand, community stability and lifestyle appeal,” she said. “I want residents to know that our town is holding strong, and the statewide data reflects something we see daily: People want to be here.”