EOY Bitterroot Land Update 2017

eralambros

ERA LAMBROS LOCAL MARKET UPDATE

ERA Lambros

Bitterroot Valley Monthly Market Update

Land

2016 vs. 2017 Year End Update


The average number of Days on Market increased by

11% in 2017

New Listings increased by 14%

Closed Sales increased by 39%

The Average Sales Price decreased by 21% in 2017


88% of the Original Listing Price was 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|2016 - 2017

Bitterroot

Valley

Land

+14% +39% -21%

Change in

New Listings

Change in

Closed Sales

Change in

Average Sales

Price

2016 - 2017

2016 2017 +/-

New Listings 417 477 +14%

Closed Sales 140 195 +39%

Median Sales Price $75K $69K -8%

Average Sales Price $121K $96K -21%

Avg. % of Original List Price Received 84% 88% +4%

Average Days on Market Until Sale 298 330 +11%

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

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

Based on information from the Bitterroot Board of REALTORS®, Inc. for the period of 01/01/2016 through 12/31/2017.

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