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Association News

Real Estate Stats - 2nd Qtr. 2016

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

Statistical reports are from July 6, 2016

BOZEMAN, MT – The real estate market continues its trend of growth and consistency as residential sales dollars increased in Gallatin County in the second quarter of 2016 compared to the same period in 2015, according to the most recent statistics from the Gallatin Association of REALTORS®.

As of July 6, the Southwest Montana MLS service area combined for 611 single family homes sold, a five percent increase for the second quarter of 2016 when compared to the second quarter of 2015, according to GAR. The average sale price was $399,714, a one percent decrease compared to the same period of 2015 and the total sales volume was $244,228,341, up four percent compared to the same period of 2015.

"The Gallatin area real estate market continues to show steady growth and consistent momentum,” said 2016 GAR President Tyler Garrison. “The average sale price has remained steady compared to last year, while the number of homes being sold continue to rise; we live in a great place with affordable homes. This is a testament to the quality of life in Bozeman and the entire Gallatin Valley, as well as the professionalism and top-notch client service of our REALTORS®."

2nd Quarter Single Family statistics are as follows:

 

Bozeman (City Limits)

Units Sold
• 2nd Quarter 2015: 160
• 2nd Quarter 2016: 172 (7% increase)

Average Sale Price
• 2nd Quarter 2015: $386,433
• 2nd Quarter 2016: $398,776 (3% increase)

Total Sales
• 2nd Quarter 2015: $61,829,295
• 2nd Quarter 2016: $68,589,585 (11% increase)

 

Surrounding Bozeman (does not include city limits)
• Units Sold: 143
• Average Sale Price: $528,370
• Total Sales: $75,557,015
 
 

Belgrade
• Units Sold: 80
• Average Sale Price: $273, 879
• Total Sales: $21,910,364

 

Greater Manhattan
• Units Sold: 21
• Average Sale Price: $359,809
• Total Sales: $7,556,000

 

Greater Three Forks
• Units Sold: 15
• Average Sale Price: $208,462
• Total Sales: $3,126,936

 

Greater Big Sky
• Units Sold: 19
• Average Sale Price: $1,100,236
• Total Sales: $20,904,500

 

Total Sales - All Areas (percentage increase/decrease compared to 2nd quarter 2015)
• Units Sold: 611 (+5%)
• Average Sale Price: $399,714 (-1%)
• Total Sales: $244,228,341 (+4%)

 

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.  For more information, visit http://www.gallatinrealtors.com.

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.