BOZEMAN, MT (April 16, 2019) – Median sale prices increased and the inventory of available homes remained tight in March, according to the Gallatin Association of REALTORS® (GAR).

“While the number of new listings is down in both the single family and condo/townhouse markets, median sale prices continue to rise,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “When you factor in the decrease in the inventory of available homes, all signs point to a competitive seller’s market as we move into Spring.”

Single Family Homes – Gallatin County – March 2019

The number of new single-family listings fell from 176 in March 2018 to 130 last month, a 26.1% drop, and the number of pending sales dropped 12.9%, decreasing from 155 to 135. The number of units sold rose from 114 in March 2018 to 124 last month, an 8.8% increase, while the median sales price jumped 6.5%, from $399,000 last March to $425,000 this March. The months supply of inventory decreased 19.4%, from 3.1 to 2.5 Sellers received 98.7% of their list price in March, down slightly from 99.2% last year.

Condo/Townhouse Market – Gallatin County – March 2019

The median sale price in the condo/townhouse market increased 10.1%, rising from $288,000 in March 2018 to $317,000 last month. The number of pending sales fell 21.3%, decreasing from 89 to 70, while the number of units sold inched down from 67 to 63, a 6% drop. New listings were down 21.3% in March 2019 compared to the same period last year, falling from 94 from 70. The months supply of inventory dropped 12.9%t, decreasing from 3.1 to 2.7. Sellers received 98.3% of their listing price, down slightly from 99.4% last March.

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.

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BOZEMAN, MT – Gallatin County’s residential real estate market maintained consistent strength through the winter doldrums of February, seeing slight decreases in units sold and median sale prices compared to 2018, according to the Gallatin Association of REALTORS® (GAR).

“The Gallatin area real estate market is hanging tough through the typically slower winter months, and all signs point to a strong Spring and Summer,” said Steve Candler, CEO of the Gallatin Association of REALTORS®.

Single Family Homes – Gallatin County – February 2019

The number of new single-family listings fell from 141 in February 2018 to 131 last month, a 7.1 percent drop, and the number of pending sales dropped 4.7 percent from 129 to 123. Additionally, the median sales price decreased 3.4 percent, from $435,000 last February to $420,000 this February. The months supply of inventory decreased 12.9 percent, from 3.1 to 2.7.

Condo/Townhouse Market – Gallatin County – February 2019

The median sale price in the condo/townhouse market remained nearly static, dropping from $296,513 in February 2018 to $295,000 last month, 0.5 percent decrease. The number of pending sales jumped 23.8 percent, from 63 to 78. New listings increased sharply in February 2019 compared to the same period last year, jumping to 98 from 56, a 75 percent spike. Average days on market also remained nearly static, rising slightly from 79 last February to 80 this February, a 1.3 percent increase. The months supply of inventory dropped 21.2 percent, decreasing from 3.3 to 2.6.

Overall, the median sales price fell 5.3 percent, from $403,000 in February 2018 to $381,450 this February, while the number of new listings and pending sales increased by 14.8 percent and 3 percent, respectively. New listings increased from 203 in February of 2018 to 233 this February, and pending sales rose from 201 in February 2018 to 207 last month. The months supply of inventory also dropped slightly from 3.1 last February to 2.8 this February, 9.7 percent decrease.

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.

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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.

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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.

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