Gallatin County’s residential real estate market saw increased median sale prices and a tight inventory of available homes in February, according to statistics released by the Gallatin Association of REALTORS® (GAR). 

“The weather may still be cold, but the Gallatin County real estate market remained hot through February as homes continue to sell quickly and sellers are receiving a high percentage of their asking price,” said Claire Gillam, GAR Board President.

Single Family Market – Gallatin County – February 2020

The median sales price increased 6.7%, from $420,000 in February 2019 to $447,950 in February 2020, while the average number of days on market until sale dropped 23.5%, from 98 to 75. The inventory of available homes decreased 11.5% compared to last year, from 381 to 337, and the months supply of inventory decreased 13.8%, from 2.9 to 2.5. Sellers received 98.7% of their list price in February, up slightly from 97.7% last year. The number of new single-family listings decreased 9% compared to February 2019, from 144 to 131. Pending sales decreased 4.8%, from 124 to 118, and the number of closed sales went from 90 to 80, a 11.1% decrease.

Condo/Townhouse Market – Gallatin County – February 2020

Sellers received 98.9% of their listing price in February, a 1.3% increase from last year. Median sale prices in the condo/townhouse market held steady at $295,000, the same as February 2019.The number of new listings increased 11%, from 100 to 111. Pending sales increased 36% from 75 to 102, while closed sales increased 57.1%, from 35 to 55. The average number of days on market increased 18.7%, from 91 last year to 108 last month. The inventory of available homes in the condo/townhouse sector increased 15.2% compared to last February, from 211 to 243, while the month supply of inventory increased 6.7% from 3 to 3.2.

 

GAR Stats Info Graphic

 

The Gallatin County residential real estate market is seeing strong demand for a tight inventory of available homes as we move into 2020, according to statistics released by the Gallatin Association of REALTORS® (GAR).  

“The Gallatin County real estate market remains strong and competitive as we move through winter,” said Claire Gillam, GAR Board President. “Sales are strong, inventory remains tight, and sellers are receiving a high percentage of their asking price. We anticipate that the market will remain competitive as spring approaches.”

Single Family Market – Gallatin County – January 2020

The number of new single-family listings decreased 12.8% compared to January 2019, from 117 to 102. Pending sales increased 9.4%, from 117 to 128, and the number of closed sales jumped from 56 to 103, an 83.9% increase. The median sales price decreased 6.1%, from $479,316 to $450,000, while the average number of days on market until sale dropped 28.8%, from 104 to 74. The inventory of available homes decreased 13.2% compared to last year, from 387 to 336, and the months supply of inventory decreased 16.7%, from 3.0 to 2.5. Sellers received 97.3% of their list price in January, up slightly from 96.9% last year.

Condo/Townhouse Market – Gallatin County – January 2020

Median sale prices in the condo/townhouse market increased 1.4%, from $333,200 last year to $338,000 in January. Sellers received 98.2% of their listing price last month, down slightly from 98.3% last year. The number of new listings increased 28.8%, from 66 to 85. Pending sales increased 69.8% from 53 to 90, while closed sales increased 11.9%, from 42 to 47. The average number of days on market increased 30.5%, from 59 last year to 77 last month. The inventory of available homes in the condo/townhouse sector increased 21% compared to last January, from 195 to 236, while the months supply of inventory increased 14.3% from 2.8 to 3.2

GAR Stats Info Graphic

New listings and pending sales are up and the number of days on market is down for single family homes and condos, according to statistics released by the Gallatin Association of REALTORS® (GAR).  

“The Gallatin area real estate market remains strong as we move through Winter,” said Claire Gillam, GAR Board President, “Demand for homes in our area remains high and sellers are receiving 98% of their list price. We expect the market to stay in strong shape as Spring approaches.”

Single Family Market – Gallatin County – December 2019

The number of new single-family listings increased 2.9% compared to December of 2018, rising from 69 to 71. Pending sales increased 37%, from 73 to 100, and the number of closed sales decreased from 111 to 97, a 12.6% drop. The median sales price increased over December 2018 by 6.1%, from $410,000 to $435,000, while the average number of days on market until sale dropped 21.4%, from 84 to 66. The inventory of available homes decreased 8.1% compared to last year, falling from 420 to 386, and the months supply of inventory decreased 12.1%, from 3.3 to 2.9. Sellers received 98.2% of their list price in December, up slightly from 97.7% last year.

Condo/Townhouse Market – Gallatin County – December 2019

Median sale prices in the condo/townhouse market decreased 5.5%, from $304,750 to $288,000. Sellers received 98.6% of their listing price last month, up slightly from 98.5% last year. The number of new listings increased 17.4%, from 46 to 54. Pending sales rose by 28.6% from 35 to 45, while closed sales increased 6.3% from 63 to 67. The average number of days on market fell 58.2%, from 91 last year to 38 last month. The inventory of available homes in the condo/townhouse sector increased 28.5% compared to last December, increasing from 193 to 248, while the months supply of inventory jumped 28.6% from 2.8 to 3.6.

Stats Info Graphic

GAR Stats Info Graphic smallBOZEMAN, MT – New listings are down, pending sales are up and the number of days on market is down, according to statistics released by the Gallatin Association of REALTORS® (GAR).  

“The market is maintaining strength as we move into winter,” said Andrew Hurlburt, GAR Board President, “Homes are selling at a good clip, sellers are receiving around 98% of their asking price, and median sale prices are up in the condo market and holding steady in the single family market. While we will see the typical seasonal slowdown, our market should be in good shape moving into 2020.”

 

Single Family Market – Gallatin County – November 2019

The number of new single-family listings decreased 15.7% compared to November of 2018, falling from 83 to 70. Pending sales increased 40.9%, going from 66 to 93, and the number of closed sales fell slightly from 111 to 109, a 1.8% decrease. The median sales price decreased 1.2%, from $425,163 to $420,000, while the average number of days on market until sale dropped 36.9%, from 65 to 41. The inventory of available homes decreased 3.4% compared to last year, falling from 466 to 450, and the months supply of inventory decreased 5.6%, from 3.6 to 3.4.  Sellers received 97.8% of their list price in November, down slightly from 97.9% last year.

 

Condo/Townhouse Market – Gallatin County – November 2019

Median sale prices in the condo/townhouse market increased 10%, from $300,000 to $330,000. Sellers received 98.3% of their listing price last month, down slightly from 98.6% last year. The number of new listings decreased 33.3%, from 63 to 42. Pending sales rose by 23.2% from 52 to 64, while closed sales increased 9.5% from 63 to 69. The average number of days on market fell 15.5%, from 71 last year to 60 last month. The inventory of available homes in the condo/townhouse sector increased 37.8% compared to last November, increasing from 193 to 266, while the months supply of inventory jumped 39.3% from 2.8 to 3.9.

Condo and townhouse home sales and median sale prices increased in October compared to last year, according to statistics released by the Gallatin Association of REALTORS® (GAR).   

“The market is seeing its usual seasonal slowdown as we move into winter, which is why the numbers show an increased months supply of available homes.” said Andrew Hurlburt, GAR Board President, “While activity typically decreases during the winter months, we expect the market to remain in strong shape moving into next year.” 

Single Family Market – Gallatin County – October 2019 

The number of new single-family listings decreased compared to October of 2018, falling from 138 to 130, a 5.8% decrease. Pending sales decreased 20.5%, going from 132 to 105, and the number of closed sales fell from 171 to 129, a 24.6% decrease. The median sales price increased slightly by 1.9%, from $450,000 to $458,600. The average number of days a home spent on the market dropped by 16.1%, from 62 to 52. The inventory of available homes increased 2.2% compared to last year, rising from 495 to 506, and the months supply of inventory increased 2.6%, from 3.8 to 3.9.  Sellers received 98.2% of their list price in October, a slight increase from 97.1% last year.  

Condo/Townhouse Market – Gallatin County – October 2019 

Median sale prices in the condo/townhouse market increased 5.7%, from $307,500 to $325,000. Sellers received 98% of their listing price last month, down slightly from 98.4% last year. The number of new listings decreased 11.9%, from 59 to 52. Pending sales rose by 18.2% from 55 to 65, while closed sales increased 28.8% from 66 to 85. The average number of days on market fell 29.1%, from 79 last year to 56 last month. The inventory of available homes in the condo/townhouse sector increased 45.6% compared to last October, rising from 195 to 284, while the months supply of inventory doubled from 2.8 to 4.2. 

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