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.
BOZEMAN, MT -- The Gallatin Association of REALTORS® announced its annual award winners at the association’s general membership meeting on Aug. 28 at the Hilton Garden Inn in Bozeman.
The 2017 award winners are:
• REALTOR® of the Year: Michelle Haverstick, Preferred Properties
• Affiliate of the Year: Stephanie Hartman, First Interstate Bank
• Rookie of the Year: Carissa Paulson, ERA
“The Gallatin area real estate community is fortunate to have dedicated leaders like Michelle Haverstick, up-and-comers like Carissa Paulson and motivated affiliates like Stephanie Hartman,” said GAR President Jeff Renevier. “On behalf of our entire association, congratulations to this year’s winners on their well-deserved recognition.”
About Michelle Haverstick
Michelle Haverstick is co-owner of Preferred Properties and has been a REALTOR since 2005. In addition to serving in leadership roles with GAR, she is actively engaged at the state and national levels.
About Stephanie Hartman
Stephanie Hartman has worked as a mortgage loan officer with First Interstate Bank for over nine years. She has served on GAR’s Young Professionals Network (YPN) committee since its inception, serves on the affiliate committee and is the first chair of the Gallatin REALTORS® Charitable Foundation.
About Carissa Paulson
Rookie of the Year Carissa Paulson has been a REALTOR® with ERA for just under two years. She serves on the GAR governmental affairs committee and regularly attends the Young Professionals Network events and GAR membership meetings.
BOZEMAN, MT -- The Gallatin Association of REALTORS® board of directors recently voted to endorse three candidates for Bozeman city office who support the ideals and concerns of the REALTOR® party.
The endorsed candidates are:
• Mayor of Bozeman: Chris Mehl
• Bozeman City Commissioner: Doug Chandler, I-Ho Pomeroy.
"We conducted a thorough selection and interview process to learn where the candidates stand on the issues, find out if they understand the economic importance of the real estate industry in Bozeman and surrounding areas, and ascertain which of them will support policies that promote economic growth, home ownership and private property rights," said GAR President Jeff Renevier. "Based on the insight gained during this vetting process, our board believes Chris Mehl, Doug Chandler and I-Ho Pomeroy are the right choices for voters who want to see Bozeman continue to grow and prosper."
About Chris Mehl
Chris Mehl has served as a Bozeman City Commissioner since 2010, winning re-election to a second four-year term in 2013. His record includes voting for the city’s current affordable housing program in 2015 and supporting funding for its ongoing strategic planning effort. He is currently Policy Director at Headwaters Economics. Mehl is 47 years old and a graduate of Dartmouth College. His previous employment includes serving as a press secretary for a Member of Congress as well as the Wilderness Society. He is a former president of the Bozeman Public Library Foundation and has served on the Bozeman Planning Board and the advisory board for Bozeman Economic Growth Policy. Mehl is an active member of the Sunrise Rotary Club and supports Family Promise. According to Mehl, his priorities include preserving quality of life, improving city-resident communication and seeking a local option sales tax. He wants to attract businesses in engineering, pharmaceuticals, and laser optics to Bozeman.
About Doug Chandler
Chandler is President of Allied Engineering and a longstanding member of the Sunrise Rotary Club. As a Rotarian, he played a key leadership role in the club’s development of the East Gallatin Recreation Area. Previously, Chandler previously worked as a Geotechnical Engineer for Shannon and Wilson, Inc., a geotechnical consulting firm in Seattle. He holds a PhD. in civil engineering from University of Washington and as well as bachelor’s degrees from Montana State University. He served on the Trails, Open Space and Parks Committee from 2013-2015 and is a City of Bozeman at-large board member for the Gallatin Local Water Quality District.
About I-Ho Pomeroy
I-Ho Pomeroy is a small business owner who is completing her first term as a Bozeman City Commissioner. She owns and operates of I-Ho’s Korean Grill. Pomeroy is 56 years old and was born in Chin-Hae, South Korea. She attended the University of Montana as well as Montana State University, where she studied economics and business. Pomeroy also served in the United States Navy. She is actively involved with Sunrise Rotary, Gallatin Valley Toastmasters and translates for Gallatin County District Court. Her platform is focused on affordable housing, higher paying jobs and protecting open space and farmland.Two candidates are vying for Mayor in the November 7, 2017 election. Bozeman’s Mayor serves as chair of the city’s five-member commission, presiding over meetings and performing some additional duties. Carson Taylor is the current Mayor, with his seat becoming available in January 2018. The winner of this year's mayoral election will spend two years as Deputy Mayor and commissioner, followed by two years as Mayor. Deputy Mayor Cyndy Andrus has two years left in her term, and will therefore assume the office of Mayor in January 2018. Additionally, there are two open commission seats to fill in the election, with five candidates seeking to fill those seats.
BOZEMAN, MT – The Gallatin Association of REALTORS® (GAR) has released its residential real estate market statistics for July 2017, revealing increases in sale prices and a drop in existing inventory compared to last year.Single-family sales increased 5.3 percent this July compared to last year, rising from 152 to 160. Condo/townhouse sales remained flat, while the average sales price rose 26 percent, GAR reported.
“The Gallatin area residential real market continued its pattern of steady strength through July,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “The average sale price continues to rise while the months’ supply of inventory continues to decrease. The strong demand and limited supply of homes points to a highly competitive sellers’ market in which both buyers and sellers would be well-served to work with a professional, trained REALTOR®.”'
Single Family Homes – Gallatin County – July 2017
The number of new single-family listings in Gallatin County in July 2017 dropped 11.8 percent from July of 2016, going from 229 to 202. The number of pending sales increased slightly from 151 to 152, while the number of units sold increased 5.3 percent, from 152 last July to 160 this year. The average sale price jumped from $460,394 to $490,271, a 6.5 percent increase. The average number of days on market saw a slight bump from 69 to 70, while the months’ supply of inventory decreased 21.6 percent, from 4 to 5.1.
Condo/Townhouse Market – Gallatin County – July 2017
The number of new listings in the Gallatin County condo/townhouse market rose 9.4 percent in July compared to the same period last year, going from 64 to 70. Pending sales increased 5.8 percent, from 69 to 73, while the number of closed sales held steady at 71. The average sale price jumped 26.1 percent, from $250,091 in 2016 to $315,343 this year. The months’ supply of inventory fell 28.9 percent, from 3.8 to 2.7.
BOZEMAN, MT –The Gallatin Association of REALTORS® (GAR) has released its real estate statistics for June 2017 and the year’s second quarter, revealing an increase in prices and a drop in existing inventory.
Although the number of homes sold decreased slightly between June 2016 and 2017, with job creation growing and mortgage rates remaining low, the market continues to be healthy and poised for growth, GAR officials say.
“The Gallatin area residential real estate market remains healthy,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “With available inventory decreasing and average sale prices increasing, we are seeing a competitive sellers’ market.”
Single Family Homes – Gallatin County – June 2017
The number of new single-family listings in Gallatin County in June 2017 dropped 2.9 percent from June of 2016, going from 238 to 231. The number of pending sales decreased slightly, from 158 to 150, a 5.1 percent drop, while the number of units sold dropped 9.5 percent, from 200 last June to 181 this year. The average sale price jumped from $472,645 to $488,200, a 3.3 percent increase. The average number of days on market dropped 14.9 percent, going from 74 to 63, while the months’ supply of inventory decreased 19.1 percent, from 4.7 to 3.8.
Single Family Homes – Gallatin County – Second Quarter 2017
Second-quarter statistics reveal a similar trend, with the number of new listings dropping 11.8 percent in the second quarter of 2017 compared to the same period in 2016, decreasing from 706 to 623. The number of sales dropped 12.5 percent, from 471 to 412, while the months’ supply of inventory went from 4.7 to 3.8 percent, a 19.1 percent drop. The average sales prices increased 9.8 percent, from $434,356 to $476,839.
Condo/Townhouse Market – Gallatin County – June 2017
The number of new listings in the Gallatin County condo/townhouse market dropped 14.8 percent in June compared to the same period last year, going from 108 to 92. Pending sales jumped 25 percent, from 80 to 100, while the number of closed sales fell 14.1 percent, from 92 to 79. The average sale price increased 14.7 percent, from $272,967 in 2016 to $313,171 this year. The months’ supply of inventory fell 32.5 percent, from 4 to 2.7.
Condo/Townhouse Market – Gallatin County – Second Quarter 2017
During the second quarter of 2017, the number of new condo/townhouse listings increased slightly compared to 2016, from 276 to 284, a 2.9 percent jump. The number of pending sales also rose between 2016 and 2017, going from 244 to 262, a 7.4 percent increase. The number of closed sales dropped, however, from 233 to 202, a 13.3 percent decrease. The average sales prices increased 16.6 percent, from $263,339 to $307,126. The months’ supply of inventory dropped 32.5 percent, decreasing from 4 to 2.7.
The Gallatin Association 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.