Montana Real Estate Market Continues to Boom

July 26, 2016

 

 Syndicated by: Montana News

BOZEMAN, MT – The real estate market continues its trend of growth and consistency as residential sales dollars increased in Gallatin County in the second quarter of 2016 compared to the same period in 2015, according to the most recent statistics from the Gallatin Association of REALTORS®.

As of July 6, the Southwest Montana MLS service area combined for 611 single family homes sold, a five percent increase for the second quarter of 2016 when compared to the second quarter of 2015, according to GAR. The average sale price was $399,714, a one percent decrease compared to the same period of 2015 and the total sales volume was $244,228,341, up four percent compared to the same period of 2015.

"The Gallatin area real estate market continues to show steady growth and consistent momentum,” said 2016 GAR President Tyler Garrison. “The average sale price has remained steady compared to last year, while the number of homes being sold continue to rise; we live in a great place with affordable homes. This is a testament to the quality of life in Bozeman and the entire Gallatin Valley, as well as the professionalism and top-notch client service of our REALTORS®."

 


Second quarter statistics are as follows:

Bozeman (City Limits)

Single Family Sales- Units

  • 2nd Quarter 2015: 160

  • 2nd Quarter 2016: 172 (7% increase)

Single Family Sales- Average Sales Price

  • 2nd Quarter 2015: $386,433

  • 2nd Quarter 2016: $398,776 (3% increase)

Single Family Sales- Total Sales Volume

  • 2nd Quarter 2015: $61,829,295

  • 2nd Quarter 2016: $68,589,585 (11% increase)
     

 

 

Surrounding Bozeman (does not include city limits)

  • Units Sold: 143

  • Average Sale Price: $528,370

  • Total Sales: $75,557,015

 

Belgrade

  • Units Sold: 80

  • Average Sale Price: $273, 879

  • Total Sales: $21,910,364


Greater Manhattan

  • Units Sold: 21

  • Average Sale Price: $359,809

  • Total Sales: $7,556,000

 


Greater Three Forks

  • Units Sold: 15

  • Average Sale Price: $208,462

  • Total Sales: $3,126,936


Greater Big Sky

  • Units Sold: 19

  • Average Sale Price: $1,100,236

  • Total Sales: $20,904,500


Total Sales - All Areas (percentage increase/decrease compared to 2nd quarter 2015)

  • Units Sold: 611 (+5%)

  • Average Sale Price: $399,714 (-1%)

  • Total Sales: $244,228,341 (+4%)
     

Based in Bozeman, MT, the Gallatin Association of REALTORS® (GAR) is the local association level of the largest trade association, the National Association of REALTORS® (NAR), 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 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.

 

 

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