BOZEMAN, MT – The Gallatin Association of REALTORS® (GAR) recently released its residential real estate market statistics for September 2018, revealing increases in pending sales and average sales prices and a tightening inventory of available homes. The number of units sold in the condo/townhouse market jumped, as did the average sale price.
“The Gallatin area continues to see an active, competitive seller’s market through September,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “Average sales prices are up while the inventory of available homes remains tight, with lots of pending sales in the pipeline. If you’ve considered listing your home for sale, now is the time to contact a Gallatin area REALTOR® and do so.”
Single Family Homes – Gallatin County – September 2018
The number of new single-family listings increased slightly from 134 in September 2017 to 142 this September, a 6.0 percent increase. The number of pending sales increased from 122 to 137, a 12.3 percent jump over last year. The number of units sold decreased 10.6 percent, from 132 last September to 118 this year. The average number of days on market was 59, an 18 percent increase from 50 last year, and the months supply of inventory decreased 11.4 percent, from 4.4 to 3.9.
Condo/Townhouse Market – Gallatin County – September 2018
The number of new condo/townhouse listings decreased 21.7 percent in September 2018 compared to the same period last year, falling from 83 to 65. Pending sales jumped 9.3 percent, from 54 to 59, while the number of closed sales increased 22.4 percent, from 58 to 71. The average sale price jumped 32 percent, from $291,445 in September 2017 to $384,577 last month, and the months supply of inventory fell 23.7 percent, from 3.8 to 2.9.
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.