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.

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ADDITIONAL INFORMATION:

 

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.

 

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ADDITIONAL INFORMATION:


Gallatin County Monthly Indicators:
http://galliws.rapams.com/board-of-directors-committee-committee-menu/board-of-directors-documents-committee-menu/statistics/2017-market-statistics/164-june-2017-monthly-indicator/file.html

 

Gallatin County Quarterly Indicators: http://galliws.rapams.com/board-of-directors-committee-committee-menu/board-of-directors-documents-committee-menu/statistics/2017-market-statistics/165-q2-2017-quarterly-indicator/file.html

 

Housing Supply Overview: http://galliws.rapams.com/board-of-directors-committee-committee-menu/board-of-directors-documents-committee-menu/statistics/2017-market-statistics/166-june-2017-housing-supply-overview/file.html

 

Local Market Update: http://galliws.rapams.com/board-of-directors-committee-committee-menu/board-of-directors-documents-committee-menu/statistics/2017-market-statistics/163-june-2017-local-market-update/file.html

 

BOZEMAN, MT – Ellen Beck has been hired as the full-time Government Affairs Director (GAD) for both the Gallatin Association of REATORS® (GAR) and the Big Sky Country MLS (BSCMLS). Beck started work on July 10. In her new role, she oversees government affairs, strategic government relations and social policy for the 868 GAR members and 1,068 BCMLS members.

Prior to joining GAR/BCMLS, Beck worked as Marketing Director for Buffalo Restoration, Inc. She brings over 20 years of experience in marketing, public relations and public policy to GAR/BSCMLS and has a proven track record of fulfilling key leadership roles in public relations campaigns for recognizable brands, including Kellogg, Pepsi and Marriott. She has also coordinated and managed media campaigns for Bell Atlantic, Anheuser-Busch and Ralston-Purina. Beck brings three years of experience as a major-market TV reporter and producer in the Washington D.C. area.

“Ellen Beck is an enthusiastic, experienced public relations leader who brings a wealth of experience and knowledge to our team,” said GAR Director Steve Candler. “Her unique, diverse combination of skills and knowledge will strengthen our ability to advocate on behalf of our members and serve as the voice of real estate in the Gallatin area.”

Beck will lead the association’s bipartisan efforts to formulate policy and coordinate with federal, state, regional and local legislatures and governments to protect the interests of association members regarding local and regional real estate matters.

BOZEMAN, MT –The Gallatin Association of REALTORS® has released its real estate statistics for May 2017, revealing increases in home sales prices and a drop in the amount of time homes spend on the market.

“The Gallatin area residential real estate market demonstrated continued strength through May,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “The average sale price continues to rise in both the single-family and condo markets, while the number of days on market until sale and the months’ supply of inventory continue to decrease. The Gallatin area real estate market continues to be consistent and competitive, underscoring the value of professional advice from a qualified, trained REALTOR.”

Single Family Homes – Gallatin County
The number of new single-family listings in Gallatin County in May 2017 dropped 9 percent from May of 2016, going from 233 to 212. The number of pending sales also decreased, going from 171 to 155, a 9.4 percent drop, while the number of units sold decreased slightly from 140 last May to 133 this year, a 5 percent drop. The average sale price jumped from $367,000 to $372,000, a 1.5 percent increase. The average number of days on market went from 71 to 59, a 16.9 percent drop, while the months’ supply of inventory dropped 23.3 percent, from 4.3 to 3.3.

Condo/Townhouse Market – Gallatin County
The number of new listings in the Gallatin County condo/townhouse market decreased slightly in May compared to the same period last year, going from 91 to 87, a 4.4 percent drop. Pending sales also decreased, dropping 6.1 percent from 82 to 77, while closed sales fell slightly, from 72 to 70, a 2.8 percent drop. The average sale price increased 6.5 percent, jumping from $259,097 to $275,932. The average number of days on market dropped sharply from 80 to 47, a 41 percent decrease, and the months’ supply of inventory fell from 3.8 to 2.8, a 26.3 percent drop.

More Information:

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

“The Gallatin area real estate market demonstrated continued strength through April,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “The average sale price is up in both the single-family and condo markets, while the number of days on market until sale and the month’s supply of inventory are both down. Buyers and sellers would be well-served to engage a professional REALTOR to help them navigate the Gallatin area’s increasingly competitive real estate market.”

Single Family Homes – Gallatin County
The number of new single-family listings in Gallatin County fell from 235 in April 2016 to 169 last month, a 28.1% drop. The number of pending sales fell slightly from 186 to 175, a 5.9% decrease, while the number of units sold dropped from 131 to 89, a 32.1% drop. The average sales price jumped sharply from $390,552 to $524,323, a 34.3% spike, while the average number of days on market dropped from 73 to 67 (-8.2%) and the months’ supply of inventory fell sharply from 4.2 to 3.0, a 28.6% drop.

Condo/Townhouse Market – Gallatin County
The number of new listings in the Gallatin County condo/townhouse market rose slightly from 77 to 78, a 1.3% increase. Pending sales increased from 82 to 84, a 2.4% jump, while closed sales fell from 69 to 51, a 26.1% drop. The average sale price rose sharply from $254,929 to $343,417, a 34.7% spike. The average number of days on market dropped sharply from 80 to 52, a 35% decrease, and the months’ supply of inventory fell from 252 to 157, a 37.3% drop.

ADDITIONAL INFORMATION:

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.

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