BOZEMAN, MT -- [June 28, 2018] -- The Gallatin Association of REALTORS® (GAR) recently released its residential real estate market statistics for May 2018, revealing increases in units sold and sales prices and an increasingly tight inventory of available homes.
Single-family sales jumped 9.3 percent in May 2018 compared to May 2017, going from 140 to 153, and the average sales price in the single-family market increased 19.6 percent. Condo/townhouse sales increased 15.3 percent, rising from 72 to 83, while the average sale price in the condo/townhouse market increased 32.3 percent.
“The Gallatin area continues to see a competitive seller’s market as we move into summer,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “Total sales and average sales are up, while the inventory of available homes remains tight. All signs point to a competitive market through the summer of 2018.”
Single Family Homes – Gallatin County – May 2018
The number of new single-family listings increased from 222 to 228 in May 2018 compared to May 2017, a 2.7 percent jump. The number of pending sales remained unchanged at 155, while the number of units sold increased 9.3 percent, jumping from 140 to 153. The average number of days on market decreased slightly from 56 last year to 51 this year, an 8.9 percent drop, while the month’s supply of inventory fell 13.9 percent, from 3.6 to 3.1.
Condo/Townhouse Market – Gallatin County – May 2018
The number of new listings in the Gallatin County condo/townhouse market decreased 18.9 percent in May 2018 compared to the same period last year, falling from 106 to 86. Pending sales jumped 14.9 percent, from 74 to 85 and the number of units sold increased 15.3 percent, from 72 to 83. The average sale price saw a 32.3 percent spike, jumping from $276,795 in May 2017 to $366,178 last month, and the month’s supply of inventory fell 20.6 percent, from 3.4 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.
BOZEMAN, MT – The Gallatin Association of REALTORS® (GAR) recently released its residential real estate market statistics for April 2018, revealing increases in units sold and sales prices and a tightening inventory of available homes.
Single-family sales jumped 46.7 percent in April 2018 compared to last year, going from 92 to 135, and the average sales price in the single-family market increased 22.4 percent. Condo/townhouse sales increased 45.3 percent, rising from 53 to 77, and the average sale price in the condo/townhouse market increased 12.7 percent.“The Gallatin area residential real estate market continues to be extremely competitive,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “Total units sold and average sales prices are up, while the inventory of available homes is down. This points to a seller’s market as we move into Summer.”
Single Family Homes – Gallatin County – April 2018
The number of new single-family listings in April 2018 decreased slightly from 181 to 167 compared to April 2017, a 7.7 percent drop. The number of pending sales fell only 1.2 percent, from 172 to 170. The number of units sold increased 46.7 percent, from 92 last April to 135 this year. The average number of days on market was 75, the same as last year, while the month’s supply of inventory decreased 21.2 percent, from 3.3 to 2.6.
Condo/Townhouse Market – Gallatin County – April 2018
The number of new listings in the Gallatin County condo/townhouse market decreased 15.9 percent in April 2018 compared to the same period last year, going from 88 to 74. Pending sales fell 2.5 percent, from 81 to 79, while the number of closed sales increased 45.3 percent, from 53 to 77. The average sale price increased 12.7 percent, from $340,078 in April 2017 to $383,302 last month, and the month’s supply of inventory fell slightly, from 3.0 to 2.7.
BOZEMAN, MT -- The Gallatin Association of REALTORS®’ board of directors recently voted to endorse Jedediah Hinkle and Gordon “Gordy” Vance for the Montana State Senate who are running in the June 5, 2018 Republican primary election.
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.
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.
“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 Jedediah Hinkle and Gordy Vance are the right choices for voters who want to see our area grow and prosper.
Gordon Vance, candidate for Montana Senate
Jedidiah Hinkle, Candidate for Montana Senate
BOZEMAN, MT — The Gallatin Association of REALTORS® (GAR) Charitable Foundation recently presented a $10,000 donation to Thrive, a Bozeman-based non-profit that provides mentoring, education and support to over 7,000 parents, children and community members annually through its five signature programs. The donation was the largest single contribution in the history of Thrive’s CAP (Child Advancement Project) program.
GAR Charitable Foundation President Stephanie Hartman presents THRIVE with its largest Corporate Sponsorship in the program’s history. Pictured, left to right, are Tyler Garrison, GAR Charitable Foundation Board Member, Michelle Haverstick, GAR President, Lacy Browne, GAR Charitable Foundation Board Member, Stephanie Hartman, GAR Charitable Foundation President; Brittany Ellers, Thrive Business Partnerships Officer, Janet White, Thrive Board Chair, Sara Bradford, Thrive Grants Officer, Bert Brandon, Thrive Board Member, Shann Scott, Thrive Board Member, Robin Patterson, Thrive Board Member, and Vanessa Skelton, Thrive Major Gifts Officer
“REALTORS care about the community in which we live and work, and we are proud to support the valuable work Thrive does to improve the lives of children and families in our community,” said GAR President Michelle Haverstick, also a member of the foundation board.
Thrive provides Gallatin Valley families with the resources, tools and support they need to raise healthy, successful children through its signature programs aimed at everyone from teen mothers to parents of high schoolers as well as programs and activities for children from ages birth to 18. For more information, visit http://allthrive.org.
BOZEMAN, MT – The Gallatin Association of REALTORS® (GAR) has released its sales statistics for March and the first quarter of 2018, revealing a greater number of condo/townhouse sales and a decrease in housing inventory.
“We are seeing more interest in the available condos and townhomes in Gallatin County,” GAR CEO Steve Candler said. “Potential buyers are interested and are doing their homework when it comes to buying a home. The Gallatin Association of REALTORS® stands ready to serve both buyers and sellers in this competitive market.”
March 2018 vs. March 2017
The number of new single-family home listings in Gallatin County decreased 12.3% from 195 in March 2017 to 171 last month. The total number of units sold dropped from 130 to 113, a 13.1% decrease. The average sale price, however, increased 22.8% between 2017 and 2018, going from $351,101 to $399,000. The inventory of homes for sale dropped nearly 20%, from 438 to 351.
In the condo/townhouse market, the number of new listings dropped by 1, from 92 in March 2017 to 91 this year. The number of closed sales jumped 31.4%, increasing from 51 to 67 between 2017 and 2018. The average sales price remained steady, dropping just 1%, from $370,164 to $366,425. The inventory of available homes for sale increased just 0.5%, from 192 to 193.
First Quarter 2018 vs. First Quarter 2017
The number of new single-family listings in Gallatin County through the first quarter of 2018 decreased 1.6% compared to last year, from 436 to 429. The number of units sold also dropped slightly, from 290 to 281, a 3/1% decrease. The average sale price jumped 11.5%, going from $464,918 to $518,611. The inventory of homes for sale dropped nearly 20%, from 351 last year to 438 during this year’s first quarter.
Condos/townhouses in Gallatin County saw a decrease in new listings in the first quarter of 2018, compared to the previous year, dropping 8.1%, from 223 to 205. The number of units sold, however, increased from 138 to 149, an 8.4% jump. The average condo/townhouse sales price increased only 0.7%, rising from $357,455 to $360,015. Inventory of available units remained steady at 2.9.