These statistics encompass the areas of Bozeman, Belgrade, Big Sky, Manhattan, Livingston and Three Forks in Southwestern Montana.
The days on market was down across most sectors and areas when compared to the third quarter of 2015 while the median price was up compared to last year. The lack of inventory has resulted in the number of listings that were sold being down when compared to Q3 of 2015.
Here are more details:
For Bozeman the days on market was about 51 days for single family homes while the median price came in at $351,000 compared to $348,000 in Q3 of 2015 and $296,000 in Q3 of 2014. So, things are looking good in Bozeman.
In Belgrade it took just 29 days to sell a single family home compared to 33 at this time last year and a whopping 51 days in 2014. The median price came in at $265,00 compared to just $225,000 last year in Q3
For Manhattan the days on market was only 29 days compared to 125 days last year at this time. That number is so dramatic that I might have to look into that further since it could have been a clerical error. The average price was $277,000 compared to $257,000 last year.
Three Forks took a long time to sell a single family home coming in at 76 days compared to 62 days one year ago. The median price still increased to $215,000 compared to Q3 2015 when the median price was $189,000
The prices in Big Sky went up dramatically I suspect because of a couple of higher priced listings sold. The median price was skewed higher up to $1,525,000. At the same time the days on market in Big Sky was extremely high at 251 which is what sometimes happens at the higher end of the market.
In Livingston City it took on average 56 days to sell a single family home compared to 53 last year at this time. The median price came in at $209,000 compared to $195,000 in Q3 of 2015
In general the local real estate market is growing and doing well
Thanks to Marcie Hahn-Knoff of Pure West Christie’s International Real Estate in Bozeman. 406-599-3530