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

“The Gallatin area real estate market finished the first quarter in solid shape,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “Single-family residential sales are up, and the average number of days on market for single-family homes fell slightly. We expect the market to remain steady and strong as we move into summer.”

Single Family Homes – Gallatin County

The number of new single-family listings in Gallatin County dropped slightly from 434 in the first quarter of 2016 to 415 in 2017, a 4.4% decrease. The number of closed sales jumped from 252 to 277, a 9.9% increase. The average number of days on market dropped from 94 to 88, a 6.4% decrease. The inventory of homes for sale fell from 510 to 405, a 20.6% decrease, and the months’ supply of inventory dropped from 4.1 to 3.1, a 24.4% decrease. The average sale price rose from $459,031 to $469,972, a 2.4% increase.

Condo/Townhouse Market – Gallatin County

The number of new listings in the Gallatin County condo/townhouse market dropped from 227 in the first quarter of 2016 to 217 in 2017, a 4.4% decrease. The number of closed sales dropped from 140 to 131, a 6.4% decrease. The average number of days on market jumped sharply from 96 to 138, a 43.8% increase. The inventory of condo/townhouse homes available for sale dropped from 273 to 168, a 38.5% drop, and the months’ supply of inventory fell from 4.2 to 2.6, a 38.1% decrease. The average sale price jumped sharply from $254,376 to 362,263, a 42.4% spike.

All Properties

The number of total new listings dropped from 703 in the first quarter of 2016 to 670 this year, a 4.7% decrease. The number of closed sales increased slightly from 413 to 425, a slight 2.9% increase. The average number of days on market rose slightly from 94 to 103, a 9.6% jump. The total inventory of homes available for sale fell from 830 to 615, a 25.9% drop, and the month’s supply of inventory fell from 4.2 to 3.0, a 28.6% decrease. The average sale price rose from $383,494 to $443,358, a 15.6% increase.

About the Gallatin Association of REALTORS®

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:

Single-family listings, sales up; available inventory down

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

“The Gallatin area real estate market remained strong through March,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “The numbers are strong on all fronts: new single-family listings and closed sales are up, while the inventory of available homes and the months’ supply of available inventory are both down. Buyers and sellers participating in this type of active market would be smart to engage a professional REALTOR® to help them through the process.”

Single Family Homes – Gallatin County

The number of new single-family listings in Gallatin County rose from 176 in March 2016 to 185 last month, a 5.1% increase. The number of closed sales jumped from 106 to 118, an 11.3% increase, while pending sales decreased slightly from 157 to 155, a 1.3% drop. The average number of days on market dropped slightly from 88 to 87, a 1.1% decrease. The inventory of homes for sale fell from 510 to 405, a 20.6% decrease, and the months’ supply of inventory dropped from 4.1 to 3.1, a 24.4% decrease. The average sale price dropped from $457,918 to $443,539, a 3.1% drop.

Condo/Townhouse Market – Gallatin County

The number of new listings in the Gallatin County condo/townhouse market dropped from 106 in March 2016 to 87 in March 2017, a 17.9% decrease. The number of closed sales dropped from 54 to 47, a 13.0% decrease, while the number of pending sales decreased from 96 to 77, a 19.8% drop. The inventory of condo/townhouse homes available for sale dropped from 273 to 168, a 38.5% drop, and the months’ supply of inventory fell from 4.2 to 2.6, a 38.1% decrease. The average sale price jumped sharply from $265,331 to $381,476, a 43.8% spike.

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.

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

“The Gallatin area real estate market continued a pattern of steady growth through February,” said Steve Candler, CEO of the Gallatin Association of REALTORS® and the Big Sky Country MLS. “We are seeing a sellers’ market with a strong demand and buyer activity continuing to outpace seller activity. This is resulting in relatively quick sales and a low supply of available homes.”

Single Family Homes – Gallatin County

While the number of new single-family listings dropped from 151 in February 2016 to 124 last month, a 17.9% decrease, the number of closed sales only decreased slightly from 70 to 65, a 7.1% drop. The average number of days on market until sale was 161, down from 163 in February 2016, a 1.2% drop. The inventory of homes for sale dropped 16.1%, from 591 in February 2016 to 496 last month, while the average sales price rose from $441,770 to $494,543, an 11.9% increase. The months’ supply of inventory dropped from 4.8 to 3.8, a 20.8% decrease.

Condo/Townhouse Market – Gallatin County

The number of new listings in the condo/townhouse market jumped to 64 in February, up from 54 during the same period in 2016, an 18.5% increase. The number of closed sales dropped from 46 to 44, a 4.3% decrease. The average sales price jumped from $242,423 in February 2016 to $342,645 last month, a 41.3% spike. The average number of days on market until sale rose from 177 in February 2016 to 206 last month, a 16.4% increase, while the months’ supply of inventory dropped from 4.8 to 3.2, a 33.3% decrease.

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.

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