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Real Estate Statistics for December 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 – EnnisSINGLE FAMILY INVENTORY Active listings in Bozeman were up 22% from December last year. Area 2 inventory was up 9% from last year. Area 3’s inventory is up 56% (new subdivisions are being started) and Area 4 is up 12% from last year at this time. Area 5 inventory is down 25% from last year. And Areas 6 and 7 are down 16% and 6%. Trends are pretty much the same as last month. THE NUMBER OF MLS SINGLE-FAMILY SALES in December were again locally diverse compared to December 2017: Area 1 had 8% more sales, Area 2 had 6% fewer sales and Area 3 had 9% fewer. Area 4 had increased sales by 29%. And Area 5 had sales up by 15% even though inventory was down. Livingston had sales down by 6% and Ennis was down by 11%.
MEDIAN SALES PRICES FOR SINGLE FAMILY HOMES are again up consistently (from 8% to 26%) compared to December 2017. Bozeman City prices are up another 12%, with a median of $427,500. Bozeman Area (2) shows sales prices up 12% to $515,000. Area 3 has a 11% higher median price ($320,000) than last December, and Area 4 is up 8% for a median sales price at $305,750. Area 5 is up 24% from December 2017 with a median of $1,450,000. Area 6 is up 16% to $319,875. Area 7 (Madison) raised 26% from December 2017 to a median sales price of $340,750. CONDO/TOWNHOUSE inventory in Bozeman was down 12% from 12 months ago, with 96 units on the market compared to 86 in 2017 and 49 in 2016. There are 95 condos on the market in Areas 1, 2 and 3. Median condo sales price in Bozeman is up 15% from last December to $300,000. Area 2 condos are up 12% to $291,000. Area 3, Belgrade, condos are up 17% to $221,000. Area 5, Big Sky, has 41% less condo inventory than last year (61 on market), there were 181 sales through Decembr (up 8%), and the median price is up 15% to $419,000.
Areas’ 1 -7 MLS real estate sales totaled 3545 units with $1,500,000,000 volume plus about $800,000,000 for The Yellowstone Club. Financing and Ownership: For the whole Multiple Listing Area (less Yesllowstone Club), 30% of the sales were cash, and 70% financing. Also, less Big Sky, 61% were prime residential, 31% investment, and 7% 2nd home. 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 are ready to sell!! Just give us a call and we’ll get stats just for you. This information was obtained from the Big Sky Country Multiple Listing Service. |
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SNAPSHOT OF REAL ESTATE FORECASTING FOR 2019 |
By Kathy Orton | January 7, 2019 Economic uncertainty brought on by global trade tensions, stock market volatility and the government shutdown also isn’t helping. In this environment, potential home buyers can be reluctant to make a large purchase such as a house. The last sustained government shutdown in 2013 saw a slump in home sales. It is too soon to tell whether the recent decline is a temporary lull or a major pullback. In their forecasts for 2019, real estate experts anticipate the housing market slowing down, but not stalling, with prices and mortgage rates moderating. “If mortgage rates trend sideways next year, as we anticipate, and home price appreciation continues to moderate, improving affordability should breathe some life into the housing market,” said Doug G. Duncan, chief economist at Fannie Mae. |
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SILLY SIGNS AT GAS STATIONS (good for a smile or two) |
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What Our Clients are Saying |
“Sharon and Brian covered all of the points and make the transaction easy.” – Jim & Pat “Quick response in keeping us informed. Offered sound advice and analysis of offers. And shielded me from paperwork!” |