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Real Estate Statistics for December 2017 |
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 Bozeman in December was down 34% from 2015 but the same as 2016. Area 2 has 19% fewer listings than December 2016. Area 3’s inventory is down 13%. Area 4 is up 17% from last year and Area 5 is the same as last year. Area 6 is down 21%. Area 7 has 7% less inventory than December 2016. As you can see by the numbers, most areas of MLS inventory of homes for sale continues to decrease. Area 4, Manhattan/Three Forks is bucking the trend! NUMBER OF MLS SINGLE-FAMILY SALES in December were mixed from December 2016: Areas 1, 2, and 4 had fewer sales than December 2016 (-4%, -11% and -7%). But Area 3 had sales up by 20%. Area 5 had 27% more sales than last year. Area 6 sales were up 19% and Area 7 increased by 7%. This could partially be explained by lack of inventory, and, perhaps prices. MEDIAN SALES PRICES are up or holding across the board compared to December 2016. Bozeman City prices are up another 6%, with a median of $381,500. Bozeman Area (2) shows sales prices up 15% to $459,000. Area 3 has a 13% higher median price ($287,250) than last year, and area 4 is up 16% for a median sales price at $283,950. Area 5 – Big Sky – is again up 11% from December 2016 to $1,165,000 (same as last month). Area 6 is up 15% to $274,800 (same as last month). Area 7 (Madison) is the only area that has lower prices this year – down 7% to $271,000. Areas 1 – 4 had a total of 1456 sales of single family homes compared to a total of 1481 in 2016. In contrast, Big Sky had 80 sales this year compared to 63 last year. Livingston had 252 sales compared to 212 in 2016. CONDO/TOWNHOUSE inventory in Bozeman (where most of the condos/townhouses in the valley are located) is up 146% from 12 months ago, with 91 units on the market compared to 37 in 2016. Those condos that have been under construction, are finally coming on the market! There are only 11 condos listed in Area 2 and 3, compared to 9 last year, but down from 24 in 2015.
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 County’s Economy… |
…is ranked the strongest of its size in the U. S. That is amazing! From the Bozeman Daily Chronicle: “The area was ranked the strongest economy — which the group defines as “the long-term tendency for an area to consistently grow in both size and quality” — in a Micropolitan Statistical Area.
“The study measured a handful of economic metrics — among them earnings, job numbers and negative sectors such as per capita Medicaid — and factors in historical growth or decline. “The top-rated areas have had rapid, consistent growth in both size and quality for an extended period of time,” said Policom President William Fruth. “The rankings do not reflect the latest ‘hotspot’ or boom town, but the areas which have the best economic foundation.” “Fruth pointed to the area’s diversified economy — a healthy mix of tech, manufacturing, construction and the additional nucleus that is Montana State University — as well as its consistent growth as the primary reasons Bozeman topped this year’s list.” |
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Our Clients Recommend Us |
“You successfully got a buyer for our property. You were very attentive to all prospective buyers. You advertised the property successfully. You took care of the negotiations and closing – all the details – very professionally. Thank you for the great service!”
– Bert and Sharon “I have little experience with real estate transactions. The last time I used an agent was 50 years ago. I needed someone I trusted and then rely on their advice. I feel like I got that service. I would use Sharon and Brian again, and would recommend them to a colleague or friend.” – Anonymous |
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