Bitterroot Residential Update - May 2018
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ERA LAMBROS LOCAL MARKET UPDATE<br />
ERA Lambros<br />
Ravalli County Monthly Market <strong>Update</strong><br />
RESIDENTIAL<br />
<br />
The average number of Days on Market is down 1% in<br />
<strong>May</strong> and is down 1% year to date.<br />
New Listings are up 2%<br />
Closed Sales are up 22%<br />
<br />
<br />
The Average Sales Price is down 12% in <strong>May</strong> and down<br />
5% year to date<br />
98% 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 />
<strong>May</strong><br />
Jun<br />
Jul<br />
Aug<br />
Sep<br />
Oct<br />
Nov<br />
Dec<br />
Local Market <strong>Update</strong> | <strong>May</strong> <strong>2018</strong><br />
Ravalli<br />
County<br />
<strong>Residential</strong><br />
+2% +22% -12%<br />
Change in<br />
New Listings<br />
Change in<br />
Closed Sales<br />
Change in<br />
Average Sales<br />
Price<br />
<strong>May</strong><br />
Year to Date<br />
2017 <strong>2018</strong> +/- 2017 <strong>2018</strong> +/-<br />
New Listings 133 135 +2% 499 517 +4%<br />
Closed Sales 73 89 +22% 206 278 +35%<br />
Median Sales Price $285K $265K -7% $266K $274K +3%<br />
Average Sales Price $321K $284K -12% $340K $322K -5%<br />
Avg. % of Original List Price Received 96% 98% +2% 94% 97% +3%<br />
Average Days on Market Until Sale 196 194 -1% 208 205 -1%<br />
New Listings<br />
2017 <strong>2018</strong><br />
Closed Sales<br />
2017 <strong>2018</strong><br />
150<br />
100<br />
100<br />
80<br />
60<br />
50<br />
40<br />
20<br />
0<br />
Jan Feb Mar Apr <strong>May</strong> Jun Jul Aug Sep Oct Nov Dec<br />
0<br />
Jan Feb Mar Apr <strong>May</strong> Jun Jul Aug Sep Oct Nov Dec<br />
Average Sales Price<br />
Average Days on Market<br />
2017 <strong>2018</strong><br />
2017 <strong>2018</strong><br />
$600,000<br />
$500,000<br />
$400,000<br />
$300,000<br />
$200,000<br />
$100,000<br />
$0<br />
300<br />
200<br />
100<br />
0<br />
Based on information from the Missoula Organization of REALTORS®, Inc. for the period of 01/01/2017 through 05/31/<strong>2018</strong>.
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