Bitterroot Residential Market Update - November 2017

eralambros

ERA LAMBROS LOCAL MARKET UPDATE

ERA Lambros

Ravalli County Monthly Market Update

RESIDENTIAL


The average number of Days on Market is down 28% in

November and down 13% year to date

New Listings are up 5%

Closed Sales are up 22%



The Average Sales Price is down 12% and down 2% year

to date

95% 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

+5% +22% -28%

Change in Change in Change in

New Listings Closed Sales Days on Market

Residential

November

Year to Date

2016 2017 +/- 2016 2017 +/-

New Listings 42 44 +5% 990 1,066 +8%

Closed Sales 51 62 +22% 578 629 +9%

Median Sales Price $265K $253K -5% $250K $263K +5%

Average Sales Price $307K $270K -12% $300K $295K -2%

Avg. % of Original List Price Received 96% 95% -1% 94% 96% +2%

Average Days on Market Until Sale 221 160 -28% 194 169 -13%

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 11/01/2017 through 11/30/2017.

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