BOZEMAN, MT (February 15, 2019) – Median single-family home prices and pending sales jumped in an increasingly competitive sellers’ market in January, according to the Gallatin Association of REALTORS® (GAR).

“Sale prices were up in January, while the inventory of available homes remains tight,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “The Gallatin area real estate market kicked off 2019 in strong shape, and we expect that trend to continue into Spring.”

Single Family Homes – Gallatin County – January 2019

The number of new single-family listings fell from 123 in January 2018 to 113 last month, while the number of pending sales increased 15.1 percent from 106 to 122. Additionally, the median sales price also jumped 21.4 percent, from $392,500 last January to $476,500 this January. The month’s supply of inventory decreased 15.2 percent, from 3.3 to 2.8.

Condo/Townhouse Market – Gallatin County – January 2019

The median sale price in the condo/townhouse market jumped 19.1 percent, from $279,750 in January 2018 to $333,200 last month. The number of pending sales decreased 17.2 percent, from 64 to 53. New listings were down 3.3 percent in January 2019 compared to the same period last year, falling slightly from 60 to 58, while average days on market dropped 10.4 percent, decreasing from 67 last January to 60 last month. The month’s supply of inventory dropped 28.6 percent, decreasing from 3.5 to 2.5.

The Gallatin Association of REALTORS® (GAR) and the Big Sky Country MLS are the local association level of the largest trade association in the nation, presently serving its members, which are comprised of REALTORS®, Appraisers and Affiliate Members. Chartered in 1959 by the National Association of REALTORS® (NAR), GAR represents the interests of its members in southwestern Montana.

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BOZEMAN, MT (Jan. 28, 2019) – Today the Gallatin Association of REALTORS® (GAR) released its residential real estate market statistics for December 2018 as well as year-end totals, revealing an increase in median sale price and a tightening inventory of available homes.

“The Gallatin area closed 2018 in strong shape,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “Median sale prices and units sold were both up in 2018, while the inventory of available homes continues to tighten. All in all, the market remains in solid shape as we move into the new year.”
 
2018 Year in Review
The Big Sky Country MLS (BSCMLS) saw a slight increase in total sales in 2018 compared to 2017, with units sold inching up from 2,448 to 2,486, a 1.6 percent increase. The median sales price rose from $331,150 at the end of 2017 to $374,750 at the end of 2018, a 13.2 percent spike. The inventory of available homes fell from 684 at the end of 2017 to 584 at the end of last year, a 14.6 percent drop. The months supply of inventory fell from 3.4 to 2.9, a 14.7% decrease in 2018. Sellers received 98.4 percent of their listing price in 2018, compared to 98.5 percent in 2017.
 
Single Family Homes – Gallatin County – December 2018
The number of units sold decreased from 123 in December 2017 to 110 this December, a 10.6 percent drop. The number of new listings decreased 23.2 percent, from 82 last December to 63 this year, while the number of pending sales remained steady, showing a slight increase of 1.3 percent. The average number of days on market was 82, showing a 7.9 percent decrease from last December, and the months supply of inventory decreased 9.1 percent, from 3.3 to 3.0.
 
Condo/Townhouse Market – Gallatin County – December 2018
The median sale price in the condo/townhouse market jumped 27.3 percent, from $239,400 in December 2017 to $304,750 last month. The number of closed sales decreased 20.3 percent, from 79 to 63. New listings decreased 24.1 percent in December 2018 compared to the same period last year, falling from 54 to 41, while the months supply of inventory fell 33.3 percent, from 3.6 to 2.4.
 
In 2018, we saw increases in average sales prices, median sale prices and the number of units sold compared to 2017. The number of days on market dropped 8.7 percent and the housing affordability index dropped from 90 to 76, a 15.6 percent decrease since 2017. The number of new listings remained steady showing only a 2.5 percent decrease over last year.
 
The Gallatin Association of REALTORS® (GAR) and the Big Sky Country MLS are the local association level of the largest trade association in the nation, presently serving its members, which are comprised of REALTORS®, Appraisers and Affiliate Members. Chartered in 1959 by the National Association of REALTORS® (NAR), GAR represents the interests of its members in southwestern Montana. For more information, visit http://www.GallatinRealtors.com.

Additional Information:

BOZEMAN, MT (Dec. 20, 2018) – Median single-family home prices spiked in an increasingly competitive sellers’ market in November, according to the Gallatin Association of REALTORS® (GAR).

“The Gallatin area continued to see an active, competitive seller’s market through November,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “Average sales prices are up once again, while the inventory of available homes remains tight. The market remains in solid shape as we close out the year.

 
Single Family Homes – Gallatin County – November 2018
The number of new single-family listings jumped from 68 in November 2017 to 82 this November, a 20.6 percent increase. The number of units sold decreased 5.9 percent, from 119 last November to 112 this year, while the median sale price saw a 14 percent spike, jumping from $376,900 to $429,582. The average number of days on market was 65, showing no change from last November, and the months supply of inventory decreased 2.9 percent, from 3.5 to 3.4.
 
Condo/Townhouse Market – Gallatin County – November 2018
The median sale price in the condo/townhouse market jumped 28.5 percent, from $229,500 in November 2017 to $295,000 last month. The number of closed sales decreased 18.6 percent, from 70 to 57. New listings decreased 8.6 percent in November 2018 compared to the same period last year, falling from 58 to 53, while the months supply of inventory fell 25.7 percent, from 3.5 to 2.6.

The Gallatin Association of REALTORS® (GAR) and the Big Sky Country MLS are the local association level of the largest trade association in the nation, presently serving its members, which are comprised of REALTORS®, Appraisers and Affiliate Members. Chartered in 1959 by the National Association of REALTORS® (NAR), GAR represents the interests of its members in southwestern Montana. For more information, visit http://www.GallatinRealtors.com.

Additional Information:

BOZEMAN, MT – The Gallatin Association of REALTORS® (GAR) recently released its residential real estate market statistics for October 2018, revealing increases in closed sales and sale prices and a tightening inventory of available homes.

“The Gallatin area continued to see an active, competitive seller’s market through October,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “Sale prices are up once again, while the inventory of available homes remains tight. The market remains in solid shape as we move into Winter.

Single Family Homes – Gallatin County – October 2018
The number of new single-family listings increased slightly from 133 in October 2017 to 135 this October, a 1.5 percent increase. The number of units sold increased 14.9 percent, from 148 last October to 170 this year, while the median sale price saw a 20.9 percent spike, jumping from $372,361 to $450,000. The average number of days on market was 62, a 26.5 percent increase from 49 last year, and the months supply of inventory decreased 7.7 percent, from 3.9 to 3.6.
 
Condo/Townhouse Market – Gallatin County – October 2018
The median sale price in the condo/townhouse market jumped 20.2 percent, from $248,700 in October 2017 to $299,000 last month. The number of closed sales decreased 23.6 percent, from 72 to 55. New listings decreased 12.7 percent in October 2018 compared to the same period last year, falling from 63 to 55, while the months supply of inventory fell 22.9 percent, from 3.5 to 2.7.

The Gallatin Association of REALTORS® (GAR) and the Big Sky Country MLS are the local association level of the largest trade association in the nation, presently serving its members, which are comprised of REALTORS®, Appraisers and Affiliate Members. Chartered in 1959 by the National Association of REALTORS® (NAR), GAR represents the interests of its members in southwestern Montana. For more information, visit http://www.GallatinRealtors.com.

Additional Information:

BOZEMAN, MT -- The Gallatin Association of REALTORS®’ board of directors has voted to endorse several candidates running in the November 6, 2018 general election. GAR is endorsing Republicans Jedediah Hinkle (District 32) and Gordon “Gordy” Vance (District 34) for the Montana State Senate, Democrat Jim Hamilton for Montana State House in District 61, Democrat Chris Pope for Montana State House in District 65, Republican Steve White for Gallatin County Commissioner and Democrat Eric Semarad for Clerk and Recorder.

Jedediah Hinkle was first elected to represent Senate District 32 in 2014. He works as a fisheries technician for the U.S. Forestry Service and is a proponent of private property rights.

Gordon “Gordy” Vance was elected to represent District 34 in the Montana Senate in 2014. He served in the Montana House of Representatives from 2009 until he joined the Senate in early 2015 and served as Majority Leader for the 2013-14 session. Vance owned a car dealership in Bozeman and is pro-business and supportive of private property rights.

Jim Hamilton is running for his second term in the Montana House of Representatives.  He has served on the Taxation, Transportation and Agriculture committees and was appointed to a new subcommittee to study Montana’s tax structure.  He resides in Bozeman and is a community volunteer, firefighter and Rotarian.

Chris Pope, a former commercial REALTOR® and small business owner, is running for his second term in the Montana House of Representatives.  Pope, a Bozeman resident, was one of the driving forces behind the rebuilding of Main Street after the gas explosion in 2005.

Steve White is currently serving a six-year term as Gallatin County Commissioner and serves as the board's current chair.  He owned and operated a software company prior to being elected in 2006, is a graduate of Montana State University, and previously served as Chair of the Gallatin County Republican Party Finance Committee.

Eric Semarad has worked in the Clerk’s office for 28 years, 15 as the Recording Department Supervisor and 10 as the Chief Deputy Clerk. He earned his bachelor’s degree from Montana State University.

“We conducted a thorough selection and interview process to learn where the candidates stand on the issues, find out if they understand the economic importance of the real estate industry, and ascertain which of them will support policies that promote economic growth, home ownership and private property rights in the Gallatin Valley area," said GAR President Michelle Haverstick. "Based on the insight gained during this vetting process, we believe Jim Hamilton, Chris Pope and Steve White are the right choices for voters who want to see our area grow and prosper."

Based in Bozeman, MT, the Gallatin Association of REALTORS® (GAR) is the local association level of the largest trade association in the nation presently serving its members, which are comprised of REALTORS®, Appraisers and Affiliate Members. GAR was chartered as the Bozeman Board of REALTORS® in 1970 by the National Association of REALTORS® (NAR) and changed to its present name in 1996. GAR and its members serve Gallatin County and surrounding areas, including Ennis, Big Sky, Big Timber, Livingston and Three Forks. GAR members’ practices cover a variety of real estate specialties, including appraisal, commercial, development, farm and ranch, property management, residential, recreational land and resort properties. For more information, visit http://www.gallatinrealtors.com.
 

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