What $400K will buy: Rock Springs, Wyo.
Price
Overview
This contemporary tri-level, built in 1993, features a formal living and dining room, plus a family room with an octagonal trey ceiling and a pellet-burning stove with a brick hearth. The kitchen includes an island with a smooth-top range and grill, wall oven, arched oak cabinets, Corian countertops and a skylight. It opens to a covered patio with a natural gas outlet for a grill. Three upstairs bedrooms include a master suite with “a humongous closet” and an oversized spa tub, says Deborah Rapoza, associate broker with Coldwell Banker Carrier Realty. The lower level features another bedroom, plus an office, full bath and a small family room. The backyard has a view of the Rocky Mountain’s Wind River Range.
Amenities
4 bedrooms/3 baths
3,807 square feet
0.2 acre
Features: Covered and uncovered patios with privacy fence; established landscaping, including a fruit-producing plum tree; three-car garage; and fenced RV parking pad.
Listed by: Coldwell Banker Carrier Realty
Compare:
What you could buy in Rock Springs for $400,000 a year ago.
Price trend
“Right now, there are about 113 listings in Rock Springs, but they go from $20,000 to $500,000,” says Rapoza. “The market’s a little slow, but we have some new construction.”

Across the state, sales are down 22.5 percent, according to the National Association of Realtors.

But in Rock Springs, home prices for the first nine weeks of 2009 were 22.7 percent compared with last year, says Rapoza. The median home price in the area: $220,900.

What you can get for $400,000: a new home on one-quarter to half an acre, finished off with granite, hardwood, tile and slate, says Rapoza. Or a 1990s model with plenty of updates running anywhere from $300,000 to $400,000, she says. But there aren’t as many of those on the market. “People who have those houses have been here for years,” she says. “And they don’t need to move.”