Bitterroot Residential Update - July 2018

eralambros

ERA LAMBROS LOCAL MARKET UPDATE

ERA Lambros

Ravalli County Monthly Market Update

RESIDENTIAL


The average number of Days on Market is down 40% in

July and is down 2% year to date.

New Listings are up 5%

Closed Sales are down 4%

The Average Sales Price is up 2% in July and down 2%

year to date


88% 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

Residential

+5% -4% +2%

Change in

New Listings

Change in

Closed Sales

Change in

Average Sales

Price

July

Year to Date

2017 2018 +/- 2017 2018 +/-

New Listings 114 120 +5% 758 782 +3%

Closed Sales 67 64 -4% 366 421 +15%

Median Sales Price $260K $273K +5% $265K $275K +4%

Average Sales Price $290K $296K +2% $326K $320K -2%

Avg. % of Original List Price Received 97% 88% -9% 95% 95% 0%

Average Days on Market Until Sale 169 102 -40% 185 182 -2%

New Listings

2017 2018

Closed Sales

2017 2018

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

Average Days on Market

2017 2018

2017 2018

$600,000

300

$500,000

250

$400,000

200

$300,000

150

$200,000

100

$100,000

50

$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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