BOZEMAN, MT – The Gallatin Association of REALTORS® (GAR) recently released its residential real estate market statistics for September 2017, revealing a tightening inventory of available homes for sale and an increase in the average sales price in the single-family market.
“The Gallatin area residential real estate market remains hotly competitive as we move into Fall and Winter,” said Steve Candler, CEO of the Gallatin Association of REALTORS®. “The inventory of available homes and the months’ supply of inventory continue to decrease, while the average sale price in the single-family market continues to increase, indicating that we remain in a highly competitive sellers’ market. Both buyer and sellers would be well-served to engage a professional, trained REALTOR® to help them navigate this market.”
Single Family Homes – Gallatin County – September 2017
The number of new single-family listings in Gallatin County in September 2017 decreased 7.2 percent from September of 2016, going from 139 to 129. The number of pending sales increased from 115 to 129, a 12.2% jump, while the number of units sold fell 19.1 percent, from 162 last September to 131 this year. The average number of days on market decreased from 73 to 51, while the month’s supply of inventory decreased 16.7 percent, from 4.8 to 4.0.
Condo/Townhouse Market – Gallatin County – September 2017
The number of new listings in the Gallatin County condo/townhouse market rose 18.8 percent in September compared to the same period last year, going from 69 to 82. Pending sales decreased 21.1 percent, from 71 to 56, while the number of closed sales decreased 20 percent, from 70 to 56. The average sale price dropped 18.5 percent, from $359,306 in 2016 to $292,871 this year. The month’s supply of inventory fell 3.1 percent, from 3.2 to 3.1.