BOZEMAN, MT – Home prices increased and days on market decreased in Gallatin County last month, according to statistics released today by the Gallatin Association of REALTORS® (GAR).
“Homes are selling quickly, prices are up and sellers are receiving a high percentage of their asking price,” said Mike Lake, Director of the Big Sky Country Multiple Listing Service (BSCMLS), which is operated by GAR. “Gallatin County continues to see a strong, competitive real estate market as we move into the winter months.”
Single Family Market – Gallatin County – September 2019
The number of new single-family listings increased compared to September of 2018, rising from 148 to 165, an 11.5% increase. Pending sales decreased 8.1%, going from 136 to 125, and the number of closed sales rose from 121 to 130, a 7.4% increase. The median sales price increased 2.8%, from $450,000 to $462,500. The average number of days a home spent on the market dropped by 36.2%, from 58 to 37. The inventory of available homes decreased 4.8% compared to last year, dropping from 544 to 518, and the months supply of inventory fell 7.1%, from 4.2 to 3.9. Sellers received 98.4% of their list price in September, a slight increase from 97.8% last year.
Condo/Townhouse Market – Gallatin County – September 2019
Median sale prices in the condo/townhouse market increased 8.9%, from $295,000 to $321,250. Sellers received 98.8% of their listing price last month, the same as last year. The number of new listings increased 37%, from 73 to 100. Pending sales rose by 6.3% from 63 to 67, while closed sales decreased 17.3% from 75 to 62. The average number of days on market fell 43.8%, from 64 last year to 36 last month. The inventory of available homes in the condo/townhouse sector increased 47.9% compared to last September, rising from 213 to 315, while the months supply of inventory rose 56.7%, from 3 to 4.3.