Median Sales Price of Gallatin County SFH Reaches $465,500

Single family home sale prices jumped in August around Gallatin County. The median sales price was $465,500, an increase of 7.9% over August of 2018.

The Gallatin Association of Realtors release monthly details about the housing marking in Gallatin County.

According to information released by the GAR on 9/19/19:

• The median sales price increased 7.9%, from $431,250 to $465,500.
• The average number of days a home spent on the market decreased 16.7%, from 54 to 45.
• The inventory of available homes decreased 13.9% compared to last year, dropping from 575 to 495, and the months supply of inventory fell 15.9%, from 4.4 to 3.7.
• Sellers received 98.2% of their list price in August, a slight increase from 98.0% last year.

Condo prices actually DECREASED over August of 2018.

• Median sale prices in the condo/townhouse market decreased 4.4%, from $292,900 to $279.950.
• The inventory of available homes in the condo/townhouse sector increased 37.1% compared to last August, rising from 205 to 281, while the months supply of inventory rose 38.7%, from 3.1 to 4.3.