Welcome To The Housing Market Report
This Page Includes The Entire Gallatin County. See the Link Below For
Graphs and Details in Bozeman, Belgrade, Manhattan, Three Forks, Livingston and Big Sky.
June 2018: Housing markets across the nation are most assuredly active this summer, and buyer competition is manifesting itself into several quick sales above asking price. While the strength of the U.S. economy has helped purchase offers, the Fed recently increased the federal funds rate by 0.25 percent, marking the second rate hike this year and seventh since late 2015. Although the 30-year mortgage rate did not increase, buyers often react by locking in at the current rate ahead of assumed higher rates later. When this happens, accelerated price increases are possible, causing further strain on affordability.
Gallatin County - Closed Sales (see graph page below)
Closed Sales decreased 7.8 percent for Single Family homes and 8.4 percent for Condo/Townhouse homes. Pending Sales increased 1.4 percent for Single Family homes but decreased 4.2 percent for Condo/Townhouses. Inventory decreased 5.7 percent for Single Family homes and 23.3 percent for Condo/Townhouses.
Gallatin County - Median Sales Prices (see graph page below)
The Median Sales Price increased 3.5 percent to $380,000 for Single Family homes and 14.6 percent to $275,000 for Condo/Townhouses. Days on Market decreased 15.6 percent for Single Family homes and 25.0 percent for Condo/Townhouses. Months Supply of Inventory decreased 7.3 percent for Single Family homes and 22.9 percent for Condo/Townhouses.
See the Housing Market Report link below for more Market Data in your local neighborhood.
If you would like a more detailed market analysis in your
neighborhood contact Ed and Karen for a no-obligation consultation