Bitterroot Land Market Update - November 2017
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ERA LAMBROS LOCAL MARKET UPDATE<br />
ERA Lambros<br />
Ravalli County Monthly <strong>Market</strong> <strong>Update</strong><br />
LAND<br />
<br />
The average number of Days on <strong>Market</strong> is down 33% in<br />
<strong>November</strong> and up 13% year to date<br />
New Listings are up 15%<br />
Closed Sales are down 43%<br />
<br />
<br />
The Average Sales Price is up 17% and down 12% year to<br />
date<br />
89% of the Original Listing Price is received at closing<br />
514 North 1st Street Hamilton, MT 59840<br />
Office: (406) 363-6668|Toll Free: (888) 734-7653| Fax: (406) 363-3252<br />
5505 Eagle Court, Suite B Florence, MT 59833<br />
Office: (406) 273-7777| Fax: (406) 532-9677<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 />
Local <strong>Market</strong> <strong>Update</strong>|<strong>November</strong> <strong>2017</strong><br />
Ravalli<br />
County<br />
+15% -43% -33%<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 33 38 +15% 410 464 +13%<br />
Closed Sales 14 8 -43% 124 178 +44%<br />
Median Sales Price $88K $103K +17% $75K $67K -11%<br />
Average Sales Price $115K $134K +17% $106K $93K -12%<br />
Avg. % of Original List Price Received 93% 89% -4% 89% 87% -2%<br />
Average Days on <strong>Market</strong> Until Sale 317 211 -33% 289 327 +13%<br />
New Listings<br />
2016 <strong>2017</strong><br />
Closed Sales<br />
2016 <strong>2017</strong><br />
80<br />
30<br />
60<br />
25<br />
20<br />
40<br />
15<br />
20<br />
10<br />
5<br />
0<br />
Jan Feb Mar Apr May Jun<br />
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 />
1500<br />
1000<br />
500<br />
0<br />
Based on information from the Missoula Organization of REALTORS®, Inc. for the period of 11/01/<strong>2017</strong> through 11/30/<strong>2017</strong>.
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