BOZEMAN, MT – The Gallatin Association of REALTORS® (GAR) recently released its residential real estate market statistics for February 2018, revealing increases in sales, pending sales and average sales prices for single-family homes.
Single-family sales jumped 50.8 percent in February 2018 compared to last year, going from 65 to 98. Condo/townhouse sales decreased 27.1 percent, falling from 48 to 35, while the average sale price in the condo/townhouse market increased 1.5 percent.
“We continue to see a healthy, competitive real estate market,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “The number of new listings is down, while the number of pending sales and closed sales in the single-family market are up. We expect the market to show continued strength as we move into Spring and Summer.”
Single Family Homes – Gallatin County – February 2018
The number of new single-family listings in February 2018 decreased slightly from 133 to 132 compared to February 2017, a 0.8 percent drop. The number of pending sales jumped 42.3 percent, from 97 to 138. Similarly, the number of units sold increased 50.8 percent, from 65 last February to 96 this year. The average number of days on market dropped 32.4 percent, from 102 to 69, while the month’s supply of inventory decreased 18.8 percent, 3.2. to 2.6.
Condo/Townhouse Market – Gallatin County – February 2018
The number of new listings in the Gallatin County condo/townhouse market decreased 20 percent in February 2018 compared to the same period last year, going from 65 to 52. Pending sales rose 14.3 percent, from 56 to 64, while the number of closed sales decreased 27.1 percent, from 48 to 35. The average sale price increased 1.5 percent, from $336,712 in February 2017 to $341,684 last month. The month’s supply of inventory increased slightly, from 2.7. 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.