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Real Estate Statistics for April 2018
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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 some areas was less than April 2017. Bozeman was down 17% again. Area 2 has 20% fewer listings. Area 3’s inventory is up 3% and Area 4 is up 15% from last year. Area 5 is up 2% from last year. THE NUMBER OF MLS SINGLE-FAMILY SALES in March were locally diverse compared to April 2017: Area 1 had 24% more sales, Area 2 had 6% fewer sales and Area 3 had 9% fewer sales. Area 4 had increased sales by 78%. And Area 5 had sales up by 50%. Livingston had sales down by 25% and Ennis increased by 47%. As you can see, April sales were mixed, with some areas up and some down. Inventory affects this, of course.
MEDIAN SALES PRICES are up or holding compared to April 2017. Bozeman City prices are up another 19%, with a median of $425,000. Bozeman Area (2) shows sales prices up15% to $483,750. Area 3 has a 4% higher median price ($286,000) than last year, and area 4 is up 42% for a median sales price at $370,500. Area 5 is up 33% from April 2017 with a median of $1,425,000. Area 6 is up 7% to $282,883. Area 7 (Madison) raised 10% to a median sales prices of $349,750. Areas 1 – 4 had a total of 387 sales of single family homes since Jan. 1 compared to a total of 363 in April 2017.
CONDO/TOWNHOUSE inventory in Bozeman (where most of the condos/townhouses in the valley are located) is up 37% from 12 months ago, with 67 units on the market compared to 49 in 2017. Those condos that have been under construction, are finally coming on the market! There are 91 condos on the market in Areas 1, 2 and 3.
Median condo sales price in Bozeman is up 7% from last April to $299,950. Area 2 condos are up 11% to 278,500 and Area 3 condos are up 24% to $211,000. Area 5, Big Sky, has 5% more inventory than last year (92 on market), there were 22 sales in April, and the median price is up 4% to $387,900. 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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Gallatin Association of REALTORS® releases real estate statistics for April 2018
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BOZEMAN, MT – The Gallatin Association of REALTORS® (GAR) recently released its residential real estate market statistics for April 2018, revealing increases in units sold and sales prices and a tightening inventory of available homes. Single-family sales jumped 46.7 percent in April 2018 compared to last year, going from 92 to 135, and the average sales price in the single-family market increased 22.4 percent. Condo/townhouse sales increased 45.3 percent, rising from 53 to 77, and the average sale price in the condo/townhouse market increased 12.7 percent.“The Gallatin area residential real estate market continues to be extremely competitive,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “Total units sold and average sales prices are up, while the inventory of available homes is down. This points to a seller’s market as we move into Summer.” Single Family Homes – Gallatin County – April 2018 Condo/Townhouse Market – Gallatin County – April 2018 |
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National Residential Outlook: Robust Economy, Restrained Sales
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By most measures, home sales should be breaking out because of the strong economy, but growth is minimal because too few homes are for sale, explained Lawrence Yun, chief economist at the National Association of REALTORS®.
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Yun is predicting a 1 to 2 percent uptick in sales this year, to about 5.6 million units. Given favorable demographic trends and how well the economy is doing, that increase is much more restrained than it could be. “This is really about lack of inventory,” Yun said at a residential economic forum. New construction is key to addressing inventory shortages, but small builders are largely absent from markets, Yun said.
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What Our Clients are Saying
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“Just wanted to say how much we have appreciated all of the hard work you put in to help us sell the ranch. You were great! I always felt informed above and beyond what you needed to do and always felt that you had our best interests at heart.”
– Taffy
“Great job of marketing – it must have been because it led to a quick sale! Very thorough info of what to expect in terms of conditions of sale (finanicial and timing). The house was priced to sell, which is what we needed.”
– Jack & Wanda “Sharon & Brian were there for me every step of the way. I trusted them both completely from the moment they walked into my house. I wouldn’t hesitate to call them again.”
– Cindy
“Sharon and Brian were more like friends than business people. The initial visit with Sharon was very positive and we selected her from three interviewees. Both Sharon and Brian were very professional throughout the sale, even when negotiations were difficult. The buyer’s agent was inexperienced and difficult to deal with. Both Sharon and Brian kept things on an even keel and got us through. I would have no problem fully recommending them at any time.”
– Mary Ann & Rod |
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