GAR's Monthly Update

Single Family Market for Gallatin County – October 2023

Compared to September’s statistics the median sales prices on homes in Gallatin County has dropped -9.2% to $758,000. The percent of closed sales also dropped -14.9% to 88 closures, down from 102. We are seeing homes stay on the market for a longer period of time. Median days on market are up +19.2% to reach 47 days. We also saw the average percent of final listing price coming back to REALTORS drop -1.7% to average 96.1%. The median sold price per square foot also dropped slightly to $381, down -1.6%. The county saw 72 new listings in October, down -34% since September. End of the month inventory dropped -13.4% bringing the homes available to 297 units.

Condo/Townhouse Market for Gallatin County– October 2023

Median sales prices for condos and townhouses increased +4.9% over the course of October to reach $565,000. Closed sales also increased +6.5% to total 49 closures. Condos and townhouses are only spending 21 days on the market, a decrease of -22.2%. We also saw a slight drop of -0.3% in the average percent of the final listing prices coming back to REALTORS, totalling 98.2%. The median sold price per square foot increased +8.2% to $404 per square foot. There were 60 new listings in October, down -3.2% since September. End of month inventory sits at 208 units, down 0.5% from September.

Press Contact: Jim Gingery, GAR Board President
(406) 640-0910
anteloperealtymt@gmail.com