Lake County Land Market Update - January 2019
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ERA LAMBROS LOCAL MARKET UPDATE<br />
ERA Lambros<br />
<strong>Lake</strong> <strong>County</strong> Monthly <strong>Market</strong> <strong>Update</strong><br />
LAND<br />
• The average number of Days on <strong>Market</strong> is up 33% in<br />
<strong>January</strong>.<br />
• New Listings are down 24%<br />
• Closed Sales are down 50%<br />
• The Average Sales Price is down 32% in <strong>January</strong><br />
• 96% of the Original Listing Price is received at closing<br />
Office: (406) 883-1372|Toll Free: (800) 432-6828| Fax: (406) 883-1373<br />
WWW.ERALAMBROS.COM
Local <strong>Market</strong> <strong>Update</strong> | <strong>January</strong> <strong>2019</strong><br />
<strong>Lake</strong><br />
<strong>County</strong><br />
<strong>Land</strong><br />
-24% -50% -32%<br />
Change in<br />
New Listings<br />
<strong>January</strong><br />
Change in<br />
Closed Sales<br />
Change in<br />
Average Sales<br />
Price<br />
Year to Date<br />
2018 <strong>2019</strong> +/- 2018 <strong>2019</strong> +/-<br />
New Listings 29 22 -24% 29 22 -24%<br />
Closed Sales 8 4 -50% 8 4 -50%<br />
Median Sales Price $57K $89K +56% $57K $89K +56%<br />
Average Sales Price $143K $97K -32% $143K $97K -32%<br />
Avg. % of Original List Price Received 92% 96% +4% 92% 96% +4%<br />
Average Days on <strong>Market</strong> Until Sale 503 667 +33% 503 667 +33%<br />
New Listings<br />
2018 <strong>2019</strong><br />
Closed Sales<br />
2018 <strong>2019</strong><br />
100<br />
25<br />
80<br />
20<br />
60<br />
15<br />
40<br />
10<br />
20<br />
5<br />
0<br />
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec<br />
0<br />
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec<br />
Average Sales Price<br />
Average Days on <strong>Market</strong><br />
2018 <strong>2019</strong><br />
2018 <strong>2019</strong><br />
$250,000<br />
$200,000<br />
$150,000<br />
$100,000<br />
$50,000<br />
$0<br />
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec<br />
800<br />
600<br />
400<br />
200<br />
0<br />
Based on information from the Northwest Montana Association of REALTORS®, Inc. for the period of 01/01/2018 through 1/31/<strong>2019</strong>.
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