BOZEMAN, MT – The Gallatin Association of REALTORS® has released its residential real estate statistics for December 2017 as well as the year’s fourth quarter, revealing a competitive market with higher sales prices and more sales than the previous year.

 
“The Gallatin area residential real estate market has maintained a strong growth with higher sales prices and lower inventory as we close out 2017,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “We’re looking forward to an even stronger market in 2018, as average sales prices continue to climb, and the inventory of homes on the market continues to shrink.”
 
Single Family Homes
 
December
The number of new single-family listings dropped from 91 in November 2016 to 65 last month, a 28.6 percent decrease, while the number of closed sales was nearly identical to last year, increasing slightly from 115 to 116. The average number of days on market until sale was 66, down 7 percent from 71 in November 2016. The inventory of homes for sale decreased 18 percent, from 500 in November 2016 to 410 during the same period this year, while the average sale price increased 1.3 percent compared to last year, from $475,857 to $482,109. The months’ supply of inventory dropped from 3.8 to 3.2, a 16.3 percent decrease.
 
4th Quarter
The number of new single-family listings increased 9.3 percent from 246 in the fourth quarter of 2016 to 269 in the final three months of 2017. Closed sales jumped 5.7 percent, from 368 to 389. The average number of days on market until sale was down 4.3 percent, dropping from 70 to 67. The inventory of homes for sale decreased 11.8 percent, going from 424 to 374, while the months supply of inventory dropped 9.4 percent, from 3.2 to 2.9. The average sales price increased 18 percent between the fourth quarter of 2016 and that of 2017, going from $444,874 to $524,995.
 
Condo/Townhouse Market
 
December
The number of new listings in the condo/townhouse market saw a marked increase between December 2016 and December 2017, rising 68.6 percent, from 32 to 54. The number of closed sales also increased significantly over the year, jumping 39.3 percent from 56 to 78. The average sales price fell from $366,160 in December 2016 to $292,135 last month, a 20.2 percent drop. The average number of days on market until sale dropped sharply from 84 in December 2016 to just 55 last month, a 34.5 percent decrease, while the months’ supply of inventory increased from 3 to 3.4.
 
4th Quarter
In the fourth quarter of 2017, the number of new listings in the condo/townhouse market jumped 20.4 percent compared to the previous year’s numbers, going from 142 to 171. Closed sales increased 13 percent, from 123 to 139. The average sales price dropped 10.9 percent, going from $326,990 in the fourth quarter of 2016 to $292,391 in 2017. The average number of days on market until sale dropped from 84 in 2016 to 55 in 2017, a 34.5 percent decrease.
 
The Gallatin Association of REALTORS® (GAR) and the Big Sky Country MLS (BSCMLS) are the local association level of the largest trade association in the nation, presently serving its members, which are comprised of REALTORS®, Appraisers and Affiliate Members. Chartered in 1959 by the National Association of REALTORS® (NAR), GAR represents the interests of its members in southwestern Montana. For more information, visit http://www.GallatinRealtors.com.

ADDITIONAL INFORMATION:

  • Gallatin County Monthly Indicators
  • Gallatin County 4th Quarter Indicators
  • Housing Supply Overview
  • Local Market Update
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    BOZEMAN, MT – The Gallatin Association of REALTORS® has released its residential real estate statistics for November 2017, revealing a consistent and healthy housing market.

     
    “The Gallatin area residential real estate market is demonstrating steady, consistent strength as we close out 2017,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “The average sale price for single-family homes is up compared to last year, while the inventory of homes available and the average length of time homes spend on the market prior to sale are both down. This points to a highly competitive sellers’ market as we move into 2018.”
     
    Single Family Homes
    The number of new single-family listings dropped from 91 in November 2016 to 65 last month, a 28.6 percent decrease, while the number of closed sales was nearly identical to last year, increasing slightly from 115 to 116. The average number of days on market until sale was 66, down 7 percent from 71 in November 2016. The inventory of homes for sale decreased 18 percent, from 500 in November 2016 to 410 during the same period this year, while the average sale price increased 1.3 percent compared to last year, from $475,857 to $482,109. The months’ supply of inventory dropped from 3.8 to 3.2, a 16.3 percent decrease.
     
    Condo/Townhouse Market
    The number of new listings in the condo/townhouse market last month was nearly identical to last year, increasing slightly from 53 in November of 2016 to 54 this year. The number of closed sales also increased by 1, from 66 to 67. The average sale price fell from $303,862 in November 2016 to $278,245 last month, an 8.4 percent drop. The average number of days on market until sale dropped sharply from 97 in November 2016 to just 59 last month, a 39.3 percent decrease, while the months’ supply of inventory remained at 3.2.
     
    The Gallatin Association of REALTORS® (GAR) and the Big Sky Country MLS (BSCMLS) are the local association level of the largest trade association in the nation, presently serving its members, which are comprised of REALTORS®, Appraisers and Affiliate Members. Chartered in 1959 by the National Association of REALTORS® (NAR), GAR represents the interests of its members in southwestern Montana. For more information, visit http://www.GallatinRealtors.com.

    ADDITIONAL INFORMATION:

  • Gallatin County Monthly Indicators
  • Housing Supply Overview
  • Local Market Update
  •  

     

     

    BOZEMAN, MT – Today the Gallatin Association of REALTORS® released its real estate statistics for October 2017.

    “The Gallatin area residential real estate market remains competitive as we move into winter,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “The number of available homes and the months’ supply of inventory continue to decrease, while the average sale price in the single-family market continues to increase, indicating that we remain in a highly competitive sellers’ market. Both buyers and sellers would be well-served to engage a professional, trained REALTOR® to help them navigate this market.”

    Single Family Homes
    The number of new single-family listings increased from 99 in October 2016 to 125 last month, a 26.3 percent increase, while the number of closed sales rose from 135 to 146, an 8.1 percent jump. The average number of days on market until sale was 49, down from 65 in October 2016, a 24.6 percent drop. The inventory of homes for sale dropped 16.4 percent, from 554 in October 2016 to 463 last month, while the average sale price rose from $444,012 to $460,896, a 3.8 percent increase. The months’ supply of inventory dropped from 4.3 to 3.6, a 16.3 percent decrease.

    Condo/Townhouse Market
    The number of new listings in the condo/townhouse market fell slightly from 57 in October 2016 to 52 last month, an 8.8 percent drop. The number of closed sales decreased from 73 to 70, a 4.1 percent decline. The average sale price fell from $319,659 in October 2016 to $310,206 last month, a 3 percent drop. The average number of days on market until sale fell sharply from 74 in October 2016 to 53 last month, a 28.4 percent decrease, while the months’ supply of inventory remained nearly static, dropping 3.1 percent from 3.2 to 3.1.

    The Gallatin of REALTORS® (GAR) and the Big Sky Country MLS are the local association level of the largest trade association in the nation, presently serving its members, which are comprised of REALTORS®, Appraisers and Affiliate Members. Chartered in 1959 by the National Association of REALTORS® (NAR), GAR represents the interests of its members in southwestern Montana. For more information, visit http://www.GallatinRealtors.com.

    ADDITIONAL INFORMATION:

     

    BOZEMAN, MT – The Gallatin Association of REALTORS® (GAR) recently released its residential real estate market statistics for September 2017, revealing a tightening inventory of available homes for sale and an increase in the average sales price in the single-family market.

    “The Gallatin area residential real estate market remains hotly competitive as we move into Fall and Winter,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “The inventory of available homes and the months’ supply of inventory continue to decrease, while the average sale price in the single-family market continues to increase, indicating that we remain in a highly competitive sellers’ market. Both buyer and sellers would be well-served to engage a professional, trained REALTOR® to help them navigate this market.”

    Single Family Homes – Gallatin County – September 2017
    The number of new single-family listings in Gallatin County in September 2017 decreased 7.2 percent from September of 2016, going from 139 to 129. The number of pending sales increased from 115 to 129, a 12.2% jump, while the number of units sold fell 19.1 percent, from 162 last September to 131 this year. The average number of days on market decreased from 73 to 51, while the month’s supply of inventory decreased 16.7 percent, from 4.8 to 4.0.

    Condo/Townhouse Market – Gallatin County – September 2017
    The number of new listings in the Gallatin County condo/townhouse market rose 18.8 percent in September compared to the same period last year, going from 69 to 82. Pending sales decreased 21.1 percent, from 71 to 56, while the number of closed sales decreased 20 percent, from 70 to 56. The average sale price dropped 18.5 percent, from $359,306 in 2016 to $292,871 this year. The month’s supply of inventory fell 3.1 percent, from 3.2 to 3.1.

    Additional Information:

    BOZEMAN, MT – The Gallatin Association of REALTORS® (GAR) recently released its residential real estate market statistics for August 2017, revealing an upward swing in median sale prices and a drop in existing inventory compared to last year.

    Single-family sales increased 1.6 percent this August compared to last year, rising from 184 to 187. Condo/townhouse sales increased by 2.7 percent, rising from 73 to 75, while the average sale price in the condo/townhouse market rose 26.1 percent.

    “As it has done all summer, the Gallatin area residential real estate market demonstrated steady, consistent strength through August,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “Average sales prices continue to rise, while inventory of available homes and the months’ supply of inventory continue to decrease. The strong demand and limited supply of homes points to a highly competitive sellers’ market in which our professional and trained REALTORS® can help both buyers and sellers achieve success.”

    Single Family Homes – Gallatin County – August 2017
    The number of new single-family listings in Gallatin County in August 2017 increased 1.6 percent from August of 2016, going from 184 to 187. The number of pending sales decreased from 154 to 144, a 7.1 percent drop, and the number of units sold decreased 4.9 percent, from 162 last August to 154 this year. The average sale price jumped from $425,725 to $511,247, a 20.1 percent spike. The average number of days on market held steady at 50, while the months’ supply of inventory decreased 14.3 percent, from 4.9 to 4.2.

    Condo/Townhouse Market – Gallatin County – August 2017
    The number of new listings in the Gallatin County condo/townhouse market rose 2.7 percent in August compared to the same period last year, going from 73 to 75. Pending sales held steady at 74, while the number of closed sales decreased 13.8 percent, from 87 to 75. The average sale price jumped 26.1 percent, from $245,148 in 2016 to $309,223 this year and the months’ supply of inventory fell 25.7 percent, from 3.5 to 2.6.

    Additional Information:

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