Bitterroot Land Market Update - November 2017

eralambros

ERA LAMBROS LOCAL MARKET UPDATE

ERA Lambros

Ravalli County Monthly Market Update

LAND


The average number of Days on Market is down 33% in

November and up 13% year to date

New Listings are up 15%

Closed Sales are down 43%



The Average Sales Price is up 17% and down 12% year to

date

89% 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|November 2017

Ravalli

County

+15% -43% -33%

Change in Change in Change in

New Listings Closed Sales Days on Market

Land

November

Year to Date

2016 2017 +/- 2016 2017 +/-

New Listings 33 38 +15% 410 464 +13%

Closed Sales 14 8 -43% 124 178 +44%

Median Sales Price $88K $103K +17% $75K $67K -11%

Average Sales Price $115K $134K +17% $106K $93K -12%

Avg. % of Original List Price Received 93% 89% -4% 89% 87% -2%

Average Days on Market Until Sale 317 211 -33% 289 327 +13%

New Listings

2016 2017

Closed Sales

2016 2017

80

30

60

25

20

40

15

20

10

5

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

2016 2017

Average Days on Market

2016 2017

$300,000

$250,000

$200,000

$150,000

$100,000

$50,000

$0

1500

1000

500

0

Based on information from the Missoula Organization of REALTORS®, Inc. for the period of 11/01/2017 through 11/30/2017.

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