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Real Estate Statistics for August 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 Active listings in Bozeman were up 26% from August last year. Area 2, was down 11% from last year. Area 3’s inventory is up 16% and Area 4 is up 47% from last year at this time. Area 5 is down 38% from last year. And Areas 6 and 7 are 16% and 4%.
THE NUMBER OF MLS SINGLE-FAMILY SALES in August were again locally diverse compared to August 2017: Area 1 had 10% more sales, Area 2 had 7% fewer sales and Area 3 had 3% fewer. Area 4 had increased sales by 22%. And Area 5 had sales up by 28% even though inventory was down. Livingston had sales down by 18% and Ennis increased by 11%.
MEDIAN SALES PRICES are again up consistently compared to August 2017. Bozeman City prices are up another 12%, with a median of $425,000. Bozeman Area (2) shows sales prices up 11% to $499,000. Area 3 has a 11% higher median price ($317,000) than last year, and area 4 is up 14% for a median sales price at $297,500. Area 5 is up 15% from August 2017 with a median of $1,417,500. Area 6 is up 14% to $300,200. Area 7 (Madison) raised 39% from August 2017 to a median sales price of $339,000. Areas 1 – 4 had a total of 994 sales of single family homes since Jan. 1 compared to a total of 977 in August 2017.
CONDO/TOWNHOUSE inventory in Bozeman (where most of the condos/townhouses in the valley are located) is up 31% from 12 months ago, with 92 units on the market compared to 70 in 2017 and 71 in 2016. Those condos that have been under construction, are finally coming on the market! There are 119 condos on the market in Areas 1, 2 and 3. Median condo sales price in Bozeman is up 10% from last August to $300,000. Area 2 condos are up 12% to $284,000 and Area 3 condos are up 16% to $215,500. Area 5, Big Sky, has 31% less condo inventory than last year (68 on market), there were 127 sales in July, and the median price is up 11% to $405,000. These stats are for all prices, so please feel free to call Sharon or Brian for any questions on our inventory and sales in specific price ranges. 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!! Just give us a call!
This information was obtained from the Big Sky Country Multiple Listing Service. #Bozemanrealestatemarket |
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Should I Sell My Home Now or Wait Until the Spring? |
There are many questions homeowners ask themselves during the selling process. “How much will my home sell for?” “How much should I list my home for?” “Who should I select as a real estate agent to sell my home?” “What if the real estate agent overprices my home?” Last but not least, “Is this a good time to be selling a home?” is also a very common question that real estate agents are asked. As with every decision in life, there are pros and cons, and choosing when to sell a home is no different. There are many factors that need to be taken into consideration before deciding when to sell a home. Many homeowners believe selling a home during the fall or winter months is not a good idea and that the spring is the only time a house should be sold. This is the furthest from the truth. Certainly most real estate markets across the United States experience a “spring market rush” every year. There is no doubt that the “spring market” is a great time to be selling and buying real estate, however, the fall and winter seasons may be the best fit for you for many reasons. Here are several reasons why choosing to sell your home now may be a better decision than waiting until the spring: Less Competition One way that you can tell the spring real estate market has arrived is by driving down a street in your local community. In all likelihood there will be For Sale signs up all over the neighborhood! One great reason to sell your home now and not wait until the spring market is there is sure to be less competition. The fewer number of comparable homes for sale, the greater the probability that a buyer will look at your home. Simply put, it’s the supply and demand theory. If there are less homes for sale, there are less homes that a potential buyer can choose from, therefore increasing the demand for your home. Not only will less competition increase the probability for showings, but it will also increase the probability that an offer will be received and you will get the maximum amount of money for your home. |
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Bozeman Airport Winter Schedule Offers Travelers More Choices
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What Our Clients are Saying |
“Sharon & Brian successfully found a buyer for our property. They were very attentive to all potential buyers, advertised the property well, and paid close attention to detail. Thank you for the great service!” – Bert & Sharon “I appreciate Sharon and Brian’s professionalism. If a buyer or seller wants to experience a real estate transaction that is smooth and easy, I would recommend ERA and Sharon and Brian as agents. We have utilized them twice and couldn’t ask for a better experience.” “Sharon and Brian are so thoroughly experienced and competent! They handled every detail wonderfully and their instincts found my home before it became public. So glad they handled my purchase!” |
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