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Association News

Real Estate Stats - July 2016

Press Contact: Steve Candler, CEO, Gallatin Association of REALTORS®

BOZEMAN, MT – The Gallatin area real estate market stabilized in July after a strong second quarter. The average sale price rose while total residential sales decreased in Gallatin County in July of 2016 compared to the same period in 2015.

A total of 222 residences were sold in the Southwest Montana Multiple Listing Service (MLS) service area during July 2016 compared to 250 in July 2015, an 11% decrease. The average sale price in July 2016 was $386,895, a seven percent increase from the July 2015 average sale price of $361,439. Total sales volume was $85,890,669 during July 2016, down five percent compared to $90,359,855 in July 2015. These numbers were current as of Aug. 17.

"Even though the number of units sold in July dropped slightly from last year, the Gallatin area real estate market continues to show strength and consistency throughout 2016,” said 2016 GAR President Tyler Garrison. “The average sale price for residential homes is finding a range that pleases both buyers and sellers." Local REALTORS® continue to provide professional, expert service to the many new residents moving into our area.”

 

July 2016 statistics are as follows:

 

GALLATIN COUNTY YEAR-TO-YEAR COMPARISON

Residential Sales* - Units

July 2015: 250
July 2016: 222

Residential Sales* - Average Sales Price

July 2015: $361,439
July 2016: $386,894

Residential Sales* - Total Sales Volume

July 2015: $90,359,855
July 2016: $85,890,669

*Residential property types include Single Family Homes, Condominiums, Townhomes and Mobile/Manufactured

 

INDIVIDUAL AREA SALES

Bozeman

• Units Sold: 159
• Average Sale Price: $397,380
• Total Sales: $63,183,549

Belgrade

• Units Sold: 36
• Average Sale Price: $259,659
• Total Sales: $9,347,745

Greater Manhattan

• Units Sold: 6
• Average Sale Price: $243,900
• Total Sales: $1,463,400

Greater Three Forks

• Units Sold: 6
• Average Sale Price: $192,800
• Total Sales: $1,156,800

Big Sky

• Units Sold: 15
• Average Sale Price: $715,945
• Total Sales: $10,739,175

Belgrade

• Units Sold: 35
• Average Sale Price: $268,738
• Total Sales: $9,405,845

Park County

• Units Sold: 14
• Average Sale Price: $274,500
• Total Sales Volume: $4,059,750

Madison County

• Units Sold: 15
• Average Sale Price: $224,411
• Total Sales Volume: $3,366,175

 

Based in Bozeman, MT, the Gallatin Association of REALTORS® (GAR) is the local association level of the largest trade association, the National Association of REALTORS® (NAR), in the nation presently serving its members, which are comprised of REALTORS®, Appraisers and Affiliate Members. GAR was chartered as the Bozeman Board of REALTORS® in 1970 and changed to its present name in 1996. GAR and its members serve Gallatin County and surrounding areas, including Ennis, Big Sky, Big Timber, Livingston and Three Forks. GAR members’ practices cover a variety of real estate specialties, including appraisal, commercial, development, farm and ranch, property management, residential, recreational land and resort properties.

GALLATIN ASSOCIATION OF REALTORS®

The Gallatin Association of REALTORS® is blessed to be located in the burgeoning mountain community of Bozeman, Montana near our nation’s first National Park: Yellowstone. We are proud to hold a membership of nearly 650 real estate professionals who offer residential, commercial, farm and ranch, recreational land and many more property services. As one of Gallatin County’s largest business organizations, we are thrilled to represent so many dedicated professionals in our region. Welcome to Montana. We’re glad you’re here.