Market News

Montana’s Housing Markets Continue To Have Strong Year

Helena, MT – Bolstered by a strong summer, single-family home sales in Montana are up nearly 15% through the third quarter of 2013 when compared to sales data from the same period of time last year. The Montana Association of REALTORS® received sales data from local associations across the state, and overall there was an increase of 14.4% in the number of single-family homes sold year-to-date in 2013 compared to the same time period in 2012.

In the eight major markets in Montana, 7,639 single-family homes have been sold in 2013 compared to 6,678 in 2012. When looking solely at third quarter (July through September) sales data, there were 3,174 single-family homes sold over the past three months, representing more than 41% of the market activity for the year. The average and median sales price increased in every area as well, while the average number of days a house was on the market dropped in seven of the eight major markets.

“The summer months are typically the busiest time of year for REALTORS®, and this year was no exception,” MAR President Pam Wood said. “Home buyers continue to take advantage of low interest rates. If a prospective buyer is thinking about buying their first home, or current homeowners are considering moving up or downsizing, contacting a local REALTOR® is the best way to start that process.”

The largest percentage increase in year-to-year sales of single family homes was reported by the Missoula Organization of REALTORS®. The area had a 20.6% (+165 homes) increase in the number of homes sold to date in 2013 when compared to 2012, one of six markets to post double-digit percentage increases in the number of single-family homes sold.  The Gallatin Association of REALTORS® was next at 19.2% (+212), followed by the Northwest Montana Board of REALTORS® (+16.7%/223 homes), the Billings Association of REALTORS® (+13.0%/198 homes), the Bitterroot Valley Board of REALTORS® (+12.3%/39 homes), the Helena Association of REALTORS® (+11.8%/68 homes) and then the Great Falls Association of REALTORS® (+8.6%/68 homes). The Butte Board of REALTORS® was only slightly off of last year’s pace, having sold 341 single-family homes in 2013 compared to 343 in 2013, a decline of less than one percent.

MAR also collected townhouse/condo statistics, as well as sales of lots. Those statistics are available at MAR’s website.

Submitted by Bryan Haines MBOR on October 24, 2013

Posted in Livingston MT Real Estate, Montana Ranches for Sale, Real Estate News, Real Estate Sales, Tracy Raich News, Yellowstone Real Estate.