EOY Bitterroot Residential Update 2017

eralambros

ERA LAMBROS LOCAL MARKET UPDATE

ERA Lambros

Bitterroot Valley Monthly Market Update

Residential

2016 vs. 2017 Year End Update


The average number of Days on Market decreased by

11% in 2017

New Listings increased by 7%

Closed Sales increased by 7%

The Average Sales Price decreased by 2% in 2017


96% 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


Local Market Update|2016 - 2017

Bitterroot

Valley

Residential

+7% +7% -2%

Change in

New Listings

Change in

Closed Sales

Change in

Average Sales

Price

2016 - 2017

2016 2017 +/-

New Listings 1,033 1,107 +7%

Closed Sales 634 679 +7%

Median Sales Price $249K $263K +6%

Average Sales Price $306K $299K -2%

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

Average Days on Market Until Sale 194 172 -11%

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

2016 2017

Average Days on Market

2016 2017

$600,000

$500,000

$400,000

$300,000

$200,000

$100,000

$0

300

250

200

150

100

50

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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