Real Estate Sales Remain Strong in Bozeman & Across the U.S.

The Bozeman real estate market has stayed strong despite the COVID-19 pandemic. But so has the real estate market as a whole across the country. Here is Windermere Real Estate's Chief Economist Matthew Gardiner with a brief overview of United States home sales data.

In the video below, Gardiner will cover:

• U.S. existing home sales which have remained up five months in a row.
• Existing sale prices that are up over 26% from last year.
• Median house prices that are up to $313,000. That's up 15.5% from 2019. Right now, the consecutive months for home sale gains is up to 104.
• Inventory, which remains down here in Bozeman and all across the country.
• Time it takes to sell a house. Right now, according to Gardiner, 7 of 10 homes are sold in four weeks. The median time a house is on the market is 21 days.

Here are the latest real estate numbers for the Bozeman area from the Gallatin Association of realtors.

Single Family Market – Gallatin County – October 2020

• Median sales price increased 27.6% from $458,000 in Oct 2019 to $585,000.
• Closed sales increased from 129 to 205 (59% increase).
• New single-family listings increased from 130 in Oct. 2019 to 149 in Oct. 2020.
• The number of average days on the market increased nearly 31%. 52 to 68.
• Sellers received 98.5% of their list price in Oct. 2020. It was 98.2% in Oct. 2019.

Condo/Townhouse Market – Gallatin County – October 2020

• Closed sales increased nearly 31%. 85 in Oct. 2019 to 105 in Oct. 2020.
• Pending sales jumped nearly 70% from 65 (2019) to 110 (Oct. 2020).
• Median sales price up slightly from $325,000 in Oct. 2019 to $339,000 in 2020.
• The number of new listings in up nearly 52%. 52 to 79.
• Average days on the market increased in 2020. 56 in 2019 to 59 in 2020.
• Sellers received 100% of their listing price this October. That's up 2% from October 2019.

If you have real estate questions, or are looking to buy or sell a home. Reach out to Dina Emmert & Your Home Team at Windermere Real Estate. Email her at Dina@Windermere.com or call 406.580.7029.