BOZEMAN, MT – Today the Gallatin Association of REALTORS® released its real estate statistics for October 2017.
“The Gallatin area residential real estate market remains competitive as we move into winter,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “The number of available homes and the months’ supply of inventory continue to decrease, while the average sale price in the single-family market continues to increase, indicating that we remain in a highly competitive sellers’ market. Both buyers and sellers would be well-served to engage a professional, trained REALTOR® to help them navigate this market.”
Single Family Homes
The number of new single-family listings increased from 99 in October 2016 to 125 last month, a 26.3 percent increase, while the number of closed sales rose from 135 to 146, an 8.1 percent jump. The average number of days on market until sale was 49, down from 65 in October 2016, a 24.6 percent drop. The inventory of homes for sale dropped 16.4 percent, from 554 in October 2016 to 463 last month, while the average sale price rose from $444,012 to $460,896, a 3.8 percent increase. The months’ supply of inventory dropped from 4.3 to 3.6, a 16.3 percent decrease.
The number of new listings in the condo/townhouse market fell slightly from 57 in October 2016 to 52 last month, an 8.8 percent drop. The number of closed sales decreased from 73 to 70, a 4.1 percent decline. The average sale price fell from $319,659 in October 2016 to $310,206 last month, a 3 percent drop. The average number of days on market until sale fell sharply from 74 in October 2016 to 53 last month, a 28.4 percent decrease, while the months’ supply of inventory remained nearly static, dropping 3.1 percent from 3.2 to 3.1.
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. For more information, visit http://www.GallatinRealtors.com.
BOZEMAN, MT – The Gallatin Association of REALTORS® (GAR) recently released its residential real estate market statistics for September 2017, revealing a tightening inventory of available homes for sale and an increase in the average sales price in the single-family market.
“The Gallatin area residential real estate market remains hotly competitive as we move into Fall and Winter,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “The inventory of available homes and the months’ supply of inventory continue to decrease, while the average sale price in the single-family market continues to increase, indicating that we remain in a highly competitive sellers’ market. Both buyer and sellers would be well-served to engage a professional, trained REALTOR® to help them navigate this market.”
Single Family Homes – Gallatin County – September 2017
The number of new single-family listings in Gallatin County in September 2017 decreased 7.2 percent from September of 2016, going from 139 to 129. The number of pending sales increased from 115 to 129, a 12.2% jump, while the number of units sold fell 19.1 percent, from 162 last September to 131 this year. The average number of days on market decreased from 73 to 51, while the month’s supply of inventory decreased 16.7 percent, from 4.8 to 4.0.
Condo/Townhouse Market – Gallatin County – September 2017
The number of new listings in the Gallatin County condo/townhouse market rose 18.8 percent in September compared to the same period last year, going from 69 to 82. Pending sales decreased 21.1 percent, from 71 to 56, while the number of closed sales decreased 20 percent, from 70 to 56. The average sale price dropped 18.5 percent, from $359,306 in 2016 to $292,871 this year. The month’s supply of inventory fell 3.1 percent, from 3.2 to 3.1.
BOZEMAN, MT – The Gallatin Association of REALTORS® (GAR) recently released its residential real estate market statistics for August 2017, revealing an upward swing in median sale prices and a drop in existing inventory compared to last year.
Single-family sales increased 1.6 percent this August compared to last year, rising from 184 to 187. Condo/townhouse sales increased by 2.7 percent, rising from 73 to 75, while the average sale price in the condo/townhouse market rose 26.1 percent.
“As it has done all summer, the Gallatin area residential real estate market demonstrated steady, consistent strength through August,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “Average sales prices continue to rise, while inventory of available homes and the months’ supply of inventory continue to decrease. The strong demand and limited supply of homes points to a highly competitive sellers’ market in which our professional and trained REALTORS® can help both buyers and sellers achieve success.”
Single Family Homes – Gallatin County – August 2017
The number of new single-family listings in Gallatin County in August 2017 increased 1.6 percent from August of 2016, going from 184 to 187. The number of pending sales decreased from 154 to 144, a 7.1 percent drop, and the number of units sold decreased 4.9 percent, from 162 last August to 154 this year. The average sale price jumped from $425,725 to $511,247, a 20.1 percent spike. The average number of days on market held steady at 50, while the months’ supply of inventory decreased 14.3 percent, from 4.9 to 4.2.
Condo/Townhouse Market – Gallatin County – August 2017
The number of new listings in the Gallatin County condo/townhouse market rose 2.7 percent in August compared to the same period last year, going from 73 to 75. Pending sales held steady at 74, while the number of closed sales decreased 13.8 percent, from 87 to 75. The average sale price jumped 26.1 percent, from $245,148 in 2016 to $309,223 this year and the months’ supply of inventory fell 25.7 percent, from 3.5 to 2.6.
BOZEMAN, MT -- The Gallatin Association of REALTORS® announced its annual award winners at the association’s general membership meeting on Aug. 28 at the Hilton Garden Inn in Bozeman.
The 2017 award winners are:
• REALTOR® of the Year: Michelle Haverstick, Preferred Properties
• Affiliate of the Year: Stephanie Hartman, First Interstate Bank
• Rookie of the Year: Carissa Paulson, ERA
“The Gallatin area real estate community is fortunate to have dedicated leaders like Michelle Haverstick, up-and-comers like Carissa Paulson and motivated affiliates like Stephanie Hartman,” said GAR President Jeff Renevier. “On behalf of our entire association, congratulations to this year’s winners on their well-deserved recognition.”
About Michelle Haverstick
Michelle Haverstick is co-owner of Preferred Properties and has been a REALTOR since 2005. In addition to serving in leadership roles with GAR, she is actively engaged at the state and national levels.
About Stephanie Hartman
Stephanie Hartman has worked as a mortgage loan officer with First Interstate Bank for over nine years. She has served on GAR’s Young Professionals Network (YPN) committee since its inception, serves on the affiliate committee and is the first chair of the Gallatin REALTORS® Charitable Foundation.
About Carissa Paulson
Rookie of the Year Carissa Paulson has been a REALTOR® with ERA for just under two years. She serves on the GAR governmental affairs committee and regularly attends the Young Professionals Network events and GAR membership meetings.
BOZEMAN, MT -- The Gallatin Association of REALTORS® board of directors recently voted to endorse three candidates for Bozeman city office who support the ideals and concerns of the REALTOR® party.
The endorsed candidates are:
• Mayor of Bozeman: Chris Mehl
• Bozeman City Commissioner: Doug Chandler, I-Ho Pomeroy.
"We conducted a thorough selection and interview process to learn where the candidates stand on the issues, find out if they understand the economic importance of the real estate industry in Bozeman and surrounding areas, and ascertain which of them will support policies that promote economic growth, home ownership and private property rights," said GAR President Jeff Renevier. "Based on the insight gained during this vetting process, our board believes Chris Mehl, Doug Chandler and I-Ho Pomeroy are the right choices for voters who want to see Bozeman continue to grow and prosper."
About Chris Mehl
Chris Mehl has served as a Bozeman City Commissioner since 2010, winning re-election to a second four-year term in 2013. His record includes voting for the city’s current affordable housing program in 2015 and supporting funding for its ongoing strategic planning effort. He is currently Policy Director at Headwaters Economics. Mehl is 47 years old and a graduate of Dartmouth College. His previous employment includes serving as a press secretary for a Member of Congress as well as the Wilderness Society. He is a former president of the Bozeman Public Library Foundation and has served on the Bozeman Planning Board and the advisory board for Bozeman Economic Growth Policy. Mehl is an active member of the Sunrise Rotary Club and supports Family Promise. According to Mehl, his priorities include preserving quality of life, improving city-resident communication and seeking a local option sales tax. He wants to attract businesses in engineering, pharmaceuticals, and laser optics to Bozeman.
About Doug Chandler
Chandler is President of Allied Engineering and a longstanding member of the Sunrise Rotary Club. As a Rotarian, he played a key leadership role in the club’s development of the East Gallatin Recreation Area. Previously, Chandler previously worked as a Geotechnical Engineer for Shannon and Wilson, Inc., a geotechnical consulting firm in Seattle. He holds a PhD. in civil engineering from University of Washington and as well as bachelor’s degrees from Montana State University. He served on the Trails, Open Space and Parks Committee from 2013-2015 and is a City of Bozeman at-large board member for the Gallatin Local Water Quality District.
About I-Ho Pomeroy
I-Ho Pomeroy is a small business owner who is completing her first term as a Bozeman City Commissioner. She owns and operates of I-Ho’s Korean Grill. Pomeroy is 56 years old and was born in Chin-Hae, South Korea. She attended the University of Montana as well as Montana State University, where she studied economics and business. Pomeroy also served in the United States Navy. She is actively involved with Sunrise Rotary, Gallatin Valley Toastmasters and translates for Gallatin County District Court. Her platform is focused on affordable housing, higher paying jobs and protecting open space and farmland.Two candidates are vying for Mayor in the November 7, 2017 election. Bozeman’s Mayor serves as chair of the city’s five-member commission, presiding over meetings and performing some additional duties. Carson Taylor is the current Mayor, with his seat becoming available in January 2018. The winner of this year's mayoral election will spend two years as Deputy Mayor and commissioner, followed by two years as Mayor. Deputy Mayor Cyndy Andrus has two years left in her term, and will therefore assume the office of Mayor in January 2018. Additionally, there are two open commission seats to fill in the election, with five candidates seeking to fill those seats.