Bitterroot Land Update - July 2018

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.