Bitterroot Land Update - November 2018

eralambros

ERA LAMBROS LOCAL MARKET UPDATE

ERA Lambros

Ravalli County Monthly Market Update

• The average number of Days on Market is up 86% in

November and up 17% year to date.

• New Listings are down 26%

• Closed Sales are up 150%

LAND

• The Average Sales Price is up 51% in November and up

32% year to date

• 86% 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

Land

-26% +150% +51%

Change in

New Listings

Change in

Closed Sales

Change in

Average Sales

Price

November

Year to Date

2017 2018 +/- 2017 2018 +/-

New Listings 38 28 -26% 464 458 -1%

Closed Sales 8 20 +150% 178 214 +20%

Median Sales Price $103K $121K +17% $67K $83K +24%

Average Sales Price $134K $203K +51% $93K $123K +32%

Avg. % of Original List Price Received 89% 86% -3% 87% 90% +3%

Average Days on Market Until Sale 211 393 +86% 327 382 +17%

New Listings

Closed Sales

2017 2018

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

$250,000

$200,000

$150,000

$100,000

$50,000

$0

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

700

600

500

400

300

200

100

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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