Bitterroot Residential Market Update - October 2017

eralambros

ERA LAMBROS LOCAL MARKET UPDATE

ERA Lambros

Ravalli County Monthly Market Update

RESIDENTIAL


The average number of Days on Market is down 24% in

October and down 11% year to date

New Listings are up 1%




Closed Sales show no change

The Average Sales Price is down 21% and down 1% year

to date

97% of the Original Listing Price is received at closing

514 North 1st Street Hamilton, MT 59840

Office: (406) 363-6668|Toll Free: (888) 734-7653| Fax: (406) 363-3252

5505 Eagle Court, Suite B Florence, MT 59833

Office: (406) 273-7777| Fax: (406) 532-9677

WWW.ERALAMBROS.COM


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Local Market Update|October 2017

Ravalli

County

Residential

+1% 0% -21%

Change in

New Listings

Change in

Closed Sales

Change in

Average Sales

Price

October

Year to Date

2016 2017 +/- 2016 2017 +/-

New Listings 73 74 +1% 947 1,022 +8%

Closed Sales 66 66 0% 527 566 +7%

Median Sales Price $275K $260K -5% $248K $265K +7%

Average Sales Price $392K $308K -21% $299K $297K -1%

Avg. % of Original List Price Received 88% 97% +9% 94% 96% +2%

Average Days on Market Until Sale 214 163 -24% 192 170 -11%

New Listings

2016 2017

Closed Sales

2016 2017

150

100

100

80

60

50

40

20

0

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

0

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Average Sales Price

Average Days on Market

2016 2017

2016 2017

$600,000

$500,000

$400,000

$300,000

$200,000

$100,000

$0

300

200

100

0

Based on information from the Missoula Organization of REALTORS®, Inc. for the period of 10/01/2017 through 10/31/2017.

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