|
|
JUNE 2020 MARKET STATISTICS |
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 7 – EnnisSINGLE FAMILY INVENTORY Active listings in Bozeman were down 22% from June last year. Area 2 inventory was down 5% from last year. Area 3’s inventory was down 43%. Area 4 is down 10% from last year at this time. Area 5 inventory is up 313% from last year. Area 6, Livingston had 36% less inventory. Area 7 had 37% fewer active listings than June 2019. Except for Areas 5, our inventory is basically down, which gives properties on the market a distinct advantage. THE NUMBER OF MLS SINGLE-FAMILY SALES in June was mixed compared to June 2019. Area 1 had 13% fewer sales compared to last June, Area 2 had 6% more and Area 3 had 3% more sales. Area 4 had decreased sales by 26%. Area 5, Big Sky, had 34% fewer MLS sales in June. Area 6 had 33% fewer sales. Area 7 had 15% more sales. MEDIAN SALES PRICES FOR SINGLE FAMILY HOMES are considerably higher compared to June 2019 in all areas. Bozeman City prices are up 9%, with a median of $477, 250. Bozeman Area 2 shows sales prices up 14% to $625,500. Area 3 has a 4% higher median price ($349,975), and Area 4 is up 12% for a median sales price at $384,300. Area 5 is up 4% from June 2019 with a median of $1,752,300. Area 6 median price is up 8% to a median sales price of $335,400. Area 7 is up 13% to $392,000 from June 2019. CONDO/TOWNHOUSE inventory in Bozeman was up 20% from 12 months ago. Inventory in Belgrade down 33% from last June. There are 141 condos on the market in Areas 1, 2, and 3 with average price of $463, 428. Sales for June were up 7% in Bozeman, down 12% in Area 2, up 93% in Belgrade. Median condo sales price in Bozeman is down 7% from last May to $306,500. Area 3, Belgrade, condo sales prices are up 9% to a median of $283,900. Area 5, Big Sky, has 13% more condo inventory than last year, 35% less were sold than last year, and the median sales price is up 11% to $575,000 in June. New construction is most important in the condo market in Bozeman. These stats are generalized, so please feel free to call Sharon or Brian for any questions on our inventory and sales in specific price ranges and areas. We also have statistics on LAND and COMMERCIAL inventory and sales. We’re always ready to help with a FREE CURRENT MARKET ANALYSIS for your property. Just give us a call and we’ll get stats just for you. Always glad to help!! |
|
|
6 Reasons Why This Is Actually the Best Time in Years To Sell a House |
By Erica Sweeney | Jul 9, 2020, Realtor.com |
Talk about a strange summer. Between the continued threat of the novel coronavirus, a wobbly economy, and layoffs happening left and right, it’s no surprise that many who may have hoped to sell their home this season are wondering whether to put those plans on hold—or they’ve already thrown in the towel.
Such hesitancy is understandable. Yet the irony is that, after closely examining the current housing market conditions, many real estate experts believe this summer could be one of the best times to sell a home in years. “Given the pandemic and uncertainty it’s caused, the general sentiment [among some owners] is that now is not a good time to sell your home,” says Danielle Hale, chief economist at realtor.com®. “Yet so far, the data suggest the opposite—that buyers outnumber sellers in the housing market, which means it’s better to be a seller than a buyer.” So if you’re a home seller who assumed they should write off this summer’s home-selling season as a lost cause, it’s time for a reality check! Here are a few reasons why the market could actually be moving strongly in your favor. 1. Home buyer demand is back with a vengeance Granted, in the spring, when COVID-19 was spurring many states to enforce quarantine and ban open houses, home selling understandably went dormant for a while. But now that lockdown restrictions are loosening up in some states, home buyers are out with a vengeance—and many of them are eager to make up for lost time. Indeed, the real estate market is already seeing strong signs of a rebound, according to the National Association of Realtors®’ Pending Home Sales Index (a forward-looking indicator of home sales based on contract signings). In May, after two months of decline, pending home sales shot up 44.3%—the highest month-over-month jump since 2001, when the index began. “There’s very significant demand,” says Matthew Gardner, chief economist at Windermere Real Estate. He adds that demand is strongest right now in the suburbs and in smaller, cheaper cities—as buyers look to escape the biggest metros and more companies follow tech titans like Google, Amazon, and Microsoft in allowing employees to work remotely for the foreseeable future. If we continue to see an increase in working from home, people can move farther away, where they can get more bang for their buck,” Gardner says. |
|
|
“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 |
|
|
|