Bitterroot Land Update - July 2018

eralambros

ERA LAMBROS LOCAL MARKET UPDATE

ERA Lambros

Ravalli County Monthly Market Update

LAND


The average number of Days on Market is down 6% in July

and down 2% year to date.

New Listings are down 23%

Closed Sales are down 13%



The Average Sales Price is up 8% in July and up 21% year

to date

94% 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


Local Market Update | July 2018

Ravalli

County

Land

-23% -13% +8%

Change in

New Listings

Change in

Closed Sales

Change in

Average Sales

Price

July

Year to Date

2017 2018 +/- 2017 2018 +/-

New Listings 47 36 -23% 318 303 -5%

Closed Sales 24 21 -13% 114 138 +21%

Median Sales Price $73K $83K +14% $64K $82K +28%

Average Sales Price $93K $100K +8% $92K $111K +21%

Avg. % of Original List Price Received 91% 94% +3% 89% 90% +1%

Average Days on Market Until Sale 333 313 -6% 362 354 -2%

New Listings

2017 2018

Closed Sales

2017 2018

80

50

60

40

40

20

30

20

10

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

2017 2018

2017 2018

$200,000

800

$150,000

600

$100,000

400

$50,000

200

$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

Based on information from the Missoula Organization of REALTORS®, Inc. for the period of 01/01/2017 through 07/31/2018.

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