Bitterroot Land Update - March 2020
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ERA LAMBROS LOCAL MARKET UPDATE<br />
ERA Lambros<br />
Ravalli County Monthly Market <strong>Update</strong><br />
• The average number of Days on Market is up 52% in <strong>March</strong><br />
and up 3% year to date.<br />
• New Listings are up 78%<br />
• Closed Sales are up 108%<br />
LAND<br />
• The Average Sales Price is up 35% in <strong>March</strong> and up 31%<br />
year to date<br />
• 92% of the Original Listing Price is received at closing<br />
514 North 1st Street Hamilton, MT 59840<br />
Office: (406) 363-6668|Toll Free: (888) 734-7653| Fax: (406) 363-3252<br />
5505 Eagle Court, Suite B Florence, MT 59833<br />
Office: (406) 273-7777| Fax: (406) 532-9677<br />
WWW.ERALAMBROS.COM
Local Market <strong>Update</strong> | <strong>March</strong> <strong>2020</strong><br />
Ravalli<br />
County<br />
<strong>Land</strong><br />
+78% +108% +35%<br />
Change in<br />
New Listings<br />
<strong>March</strong><br />
Change in<br />
Closed Sales<br />
Change in<br />
Average Sales<br />
Price<br />
Year to Date<br />
2019 <strong>2020</strong> +/- 2019 <strong>2020</strong> +/-<br />
New Listings 23 41 +78% 94 117 +24%<br />
Closed Sales 12 25 +108% 42 63 +50%<br />
Median Sales Price $89K $105K +18% $100K $105K +5%<br />
Average Sales Price $97K $131K +35% $114K $149K +31%<br />
Avg. % of Original List Price Received 94% 92% -2% 93% 86% -7%<br />
Average Days on Market Until Sale 260 395 +52% 383 396 +3%<br />
Based on information from the Missoula Organization of REALTORS®, Inc. for the period of 01/01/2019 through 3/31/<strong>2020</strong>.
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