Lake County Land Market Update - November 2017
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ERA LAMBROS LOCAL MARKET UPDATE<br />
ERA Lambros<br />
<strong>Lake</strong> <strong>County</strong> Monthly <strong>Market</strong> <strong>Update</strong><br />
LAND<br />
<br />
The average number of Days on <strong>Market</strong> is up 11% in<br />
<strong>November</strong> and up 31% year to date<br />
New Listings are up 11%<br />
Closed Sales are up 13%<br />
<br />
<br />
The Average Sales Price is down 17% in <strong>November</strong> and<br />
up 10% year to date<br />
93% of the Original Listing Price is received at closing<br />
Office: (406) 883-1372|Toll Free: (800) 432-6828| Fax: (406) 883-1373<br />
WWW.ERALAMBROS.COM
Jan<br />
Feb<br />
Mar<br />
Apr<br />
May<br />
Jun<br />
Jul<br />
Aug<br />
Sep<br />
Oct<br />
Nov<br />
Dec<br />
Jan<br />
Feb<br />
Mar<br />
Apr<br />
May<br />
Jun<br />
Jul<br />
Aug<br />
Sep<br />
Oct<br />
Nov<br />
Dec<br />
Local <strong>Market</strong> <strong>Update</strong>|<strong>November</strong> <strong>2017</strong><br />
<strong>Lake</strong><br />
<strong>County</strong><br />
+11% +13% +11%<br />
Change in Change in Change in<br />
New Listings Closed Sales Days on <strong>Market</strong><br />
<strong>Land</strong><br />
<strong>November</strong><br />
Year to Date<br />
2016 <strong>2017</strong> +/- 2016 <strong>2017</strong> +/-<br />
New Listings 19 21 +11% 529 425 -20%<br />
Closed Sales 8 9 +13% 122 142 +16%<br />
Median Sales Price $69K $140K +103% $65K $75K +15%<br />
Average Sales Price $145K $120K -17% $119K $131K +10%<br />
Avg. % of Original List Price Received 116% 93% -13% 90% 91% -1%<br />
Average Days on <strong>Market</strong> Until Sale 482 533 +11% 344 451 +31%<br />
New Listings<br />
2016 <strong>2017</strong><br />
Closed Sales<br />
2016 <strong>2017</strong><br />
120<br />
25<br />
100<br />
80<br />
60<br />
40<br />
20<br />
20<br />
15<br />
10<br />
5<br />
0<br />
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec<br />
0<br />
Jan Feb Mar Apr May Jun<br />
Jul Aug Sep Oct Nov Dec<br />
Average Sales Price<br />
2016 <strong>2017</strong><br />
Average Days on <strong>Market</strong><br />
2016 <strong>2017</strong><br />
$300,000<br />
$250,000<br />
$200,000<br />
$150,000<br />
$100,000<br />
$50,000<br />
$0<br />
800<br />
600<br />
400<br />
200<br />
0<br />
Based on information from the Northwest Montana Association of REALTORS®, Inc. for the period of 11/01/<strong>2017</strong> through 11/30/<strong>2017</strong>.
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