BOZEMAN, MT – Today the Gallatin Association of REALTORS® released its real estate statistics for April 2017.
“The Gallatin area real estate market demonstrated continued strength through April,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “The average sale price is up in both the single-family and condo markets, while the number of days on market until sale and the month’s supply of inventory are both down. Buyers and sellers would be well-served to engage a professional REALTOR to help them navigate the Gallatin area’s increasingly competitive real estate market.”
Single Family Homes – Gallatin County
The number of new single-family listings in Gallatin County fell from 235 in April 2016 to 169 last month, a 28.1% drop. The number of pending sales fell slightly from 186 to 175, a 5.9% decrease, while the number of units sold dropped from 131 to 89, a 32.1% drop. The average sales price jumped sharply from $390,552 to $524,323, a 34.3% spike, while the average number of days on market dropped from 73 to 67 (-8.2%) and the months’ supply of inventory fell sharply from 4.2 to 3.0, a 28.6% drop.
Condo/Townhouse Market – Gallatin County
The number of new listings in the Gallatin County condo/townhouse market rose slightly from 77 to 78, a 1.3% increase. Pending sales increased from 82 to 84, a 2.4% jump, while closed sales fell from 69 to 51, a 26.1% drop. The average sale price rose sharply from $254,929 to $343,417, a 34.7% spike. The average number of days on market dropped sharply from 80 to 52, a 35% decrease, and the months’ supply of inventory fell from 252 to 157, a 37.3% drop.