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Real Estate Statistics for February 2018 |
Area 1 – Bozeman City Limits Area 2 – Bozeman Area Area 3 – Belgrade and Surrounding Area Area 4 – Manhattan/Three Forks Area 5 – Gallatin Canyon/Big Sky Area 6 – Livingston Area 7MM – Ennis SINGLE FAMILY INVENTORY of current Active listings in all areas was less than February 2017. Bozeman was down 24%. Area 2 has 25% fewer listings. Area 3’s inventory is down 11% and Area 4 is down 10% from last year. Area 5 is down 31% from last year. As you can see by the numbers, most areas of MLS inventory of homes for sale continues to decrease. Please see the quotes below this report for some national findings. We’re not alone! THE NUMBER OF MLS SINGLE-FAMILY SALES in February were locally diverse compared to February 2017: Area 1 had 32% more sales, Area 2 had 27% fewer sales and Area 3 had 17 fewer sales. But Area 5 had sales up by 25%. Other areas had statistically insignificant changes. As you can see, February sales were mixed, with some areas up and some down. A lot depends on the inventory, of course. MEDIAN SALES PRICES are up or holding compared to February 2017. Bozeman City prices are up another 24%, with a median of $432,000. Bozeman Area (2) shows sales prices up 13% to $475,000. Area 3 has a 7% higher median price ($280,000) than last year, and area 4 is up 39% for a median sales price at $336,000. Area 5 is up 16% with a median of $1,995,000. Area 6 is up 32% to $283,000. Area 7 (Madison) remains at a median sales prices of $341,750. Lawrence Yun, national Realtor finance guru, said at a recent ERA meeting that existing home sales prices over the country are mostly at 10-year high prices – not quite to 2005. All good news for Sellers, not so much so for Buyers. CONDO/TOWNHOUSE inventory in Bozeman (where most of the condos/townhouses in the valley are located) is up 102% from 12 months ago, with 89 units on the market compared to 44 in 2017. Those condos that have been under construction, are finally coming on the market! Please feel free to call Sharon or Brian for any questions on our inventory and sales in specific price ranges, as these stats are for all prices. We also have statistics on land and commercial sales and inventory. We’re always ready to help with a free current market analysis for your property, whether or not you’re ready to sell!!
This information was obtained from the Big Sky Country Multiple Listing Service. |
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We Need Listings! |
As you can see with the above statistics, our local real estate market is very active, but with one big challenge – we don’t have enough listings! And that’s a great opportunity for property owners.
So – we’re just asking if you, or someone you know, might be interested in thinking about getting a Current Market Analysis and putting your property on the market. We provide free market analysis reports and our expertise to help in your decision. Would love to hear from you and, hopefully, help you with any real estate issues that you may have. You can find help, also, on our web site: www.bozeman-realestate.com #RealEstate #Bozeman #BozemanMarket #ERALandmark |
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