Bitterroot Residential Update - November 2018

eralambros

ERA LAMBROS LOCAL MARKET UPDATE

ERA Lambros

Ravalli County Monthly Market Update

RESIDENTIAL

• The average number of Days on Market is up 32% in

November and is up 7% year to date.

• New Listings are up 23%

• Closed Sales are down 24%

• The Average Sales Price is up 35% in November and up

17% year to date

• 96% 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 | November 2018

Ravalli

County

Residential

+23% -24% +35%

Change in

New Listings

Change in

Closed Sales

Change in

Average Sales

Price

November

Year to Date

2017 2018 +/- 2017 2018 +/-

New Listings 44 54 +23% 1,066 1,085 +2%

Closed Sales 62 47 -24% 629 684 +9%

Median Sales Price $253K $315K +25% $263K $280K +6%

Average Sales Price $270K $365K +35% $295K $344K +17%

Avg. % of Original List Price Received 95% 96% +1% 96% 95% -1%

Average Days on Market Until Sale 160 211 +32% 169 180 +7%

New Listings

Closed Sales

2017 2018

2017 2018

160

140

120

100

80

60

40

20

0

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

100

80

60

40

20

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

$500,000

300

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 11/30/2018.

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