BOZEMAN, MT – Residential real estate sales dollars increased in Gallatin County in the first three months of 2016 compared to the same period in 2015, according to the most recent statistics from the Gallatin Association of REALTORS®, signaling an active year for the residential market.
Total home sales dollars for single family residences in Gallatin County went from $105 million in the first quarter of 2015 to $113.3 million in 2016, according to GAR. The number of units sold dropped slightly, from 253 to 247, while the median sales price jumped from $319,500 to $325,500. The average number of days on the market dropped from 115 to 102 between 2015 and 2016. GAR also reported 452 single-family residences on the market, worth a total of $586 million.
“We are pleased with these signs of growth, especially in the typically slower winter months,” 2016 GAR President Tyler Garrison said. “Steady growth is a hallmark of a healthy market, and our REALTORS® are seeing positive signs of an active spring and summer for residential sales.”
First quarter statistics are as follows:
Single Family Sales -- Units Sold
First Quarter 2015: 253
First Quarter 2016: 247
Single Family Sales -- Average Sale Price
First Quarter 2015: $414,957
First Quarter 2016: $458,893
Single Family Sales -- Total Sales Volume
First Quarter 2015: $104,984,245
First Quarter 2016: $113,346,676
Units Sold: 4
Average Sales: $341,500
Total Sales: $1,366,000
Based in Bozeman, MT, the Gallatin Association of REALTORS® (GAR) is the local association level of the largest trade association in the nation presently serving its members, which are comprised of REALTORS®, Appraisers and Affiliate Members.
GAR was chartered as the Bozeman Board of REALTORS® in 1970 by the National Association of REALTORS® (NAR) and changed to its present name in 1996. GAR and its members serve Gallatin County and surrounding areas, including Ennis, Big Sky, Big Timber, Livingston and Three Forks. GAR members’ practices cover a variety of real estate specialties, including appraisal, commercial, development, farm and ranch, property management, residential, recreational land and resort properties.