Independently owned since 1905
Independently owned since 1905
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July was a sudden scorcher! The meteorologist seems to have the best job on the planet, as he has been paid to be pretty egregiously incorrect quite often this season (apologies to any meteorologists out there). May the huckleberries be benefitting from these last few nice rains. As to the real estate market, the inventory is still growing, but it is still at a much slower rate seasonally. Those low interest rate loans are hard to part with when you have to start over with a much higher rate. The sales were down for both land and homes for the...
June has been a wet, cold and windy with intermittent hot, beautiful summer days and many a rainbow! The gardening and hay seem to be suffering, but we are still very blessed to live in this gorgeous area. Also, many of the ornamental and fruit trees did not enjoy the unseasonably cold weather, dang it! The very helpful county extension agent sent out a newsletter saying not to give up on those trees. They may well come back! As to the real estate market, the inventory is thankfully climbing in all categories, typical of June in Montana. The...
May has been a wet, but beautiful month and the flowers were gorgeous. As to the real estate market, spring definitely sprang! The only stats that were down were average sold price for homes and average list price for land. All other categories were up or the same. Which means the market is churning toward balance. The inventory levels pushed up, with inventory still feeling low, but on the rise and prices actually came down for the average sale on residential over Sanders County. Average land...
What a gorgeous April! The market has brought a lot of price reductions, a few lingering bidding wars and some new listings, as spring usually brings. The market is still tight, but the balance is shifting. While Sanders County has dropped slightly into a buyer's market, Trout Creek and Plains remain slightly sellers markets. On the whole, the pricing has stabilized through 2023 and 2024. The days on market is climbing, price reductions are quite prevalent, while the number of listings is still...
March seemed like an early mud season to me. As to the real estate market, it was very stable with bare land slowing, and it is always the first to slow. The inventory levels pushed up just a stitch, but mostly remained level, thus inventory is still low and prices are still climbing on homes, but not land. Average land price for sales fell, while average home sale prices rose. The contingent sale activity is also encouraging. The commercial market trend is a leading indicator and may be showing that inflation is hitting home among business own...
February was not very wintery, but the market feels a little more wintery. . . While there are still sales, this is when the market tends to get quietest. The inventory levels are down in all categories except commercial indicating more of a seller's market remains, unless you include days on market which is growing and percentage of list to sale prices which is dropping, while seasonality certainly plays a role. A consequence of this low inventory is that prices are remaining high. The contingent sale activity is also encouraging. The...
November went so fast, I am not convinced it was ever here. The market is showing seasonality as well as market slowdown with half the sales of last month as far as residential. The average sold price of houses was down as well. The months of supply has returned to 2018 numbers, so the market appears to be retreating to pre-COVID sanity. The days on market is median 159 in Sanders County for November. Percentage of list price is 98.9% which is slightly up from the previous month. The months of supply for Sanders County is 11, about the same....
July was dry and unseasonably hot! The market was not quite as hot with pretty level inventory levels, growing days on market and inventory levels up over a year as far as months of supply absorption rate. Interest rates continue to rise, which is affecting the market as well. We have seen a lot of price reductions, but steady value on sold properties thus far. These next few months are always the busiest for closing sales typically in our local real estate market. So, they will tell the story soon. The huckleberries are the biggest, juiciest,...
March was a month of more sales, yet still a very tight market. On average, the inventory rose a little as to number of listings, but the average sale price dropped a little. It was pretty stable in the scheme of things. And now April showers (or snow as the case has been) shall bring beautiful May flowers. With the instability of banking and other world worries, areas such as this tend to get busier, not quieter as real estate goes. A safe haven, we are thought to be. Many would like to have assets rather than cash at present and real estate...
What does the current market look like? These numbers will be reported each month for Sanders County. Our Multiple Listing Service, which covers much of western Montana, has just switched over to CoreLogix and with it, our data service, thus this month we will review what is on the market. Next month we will resume the review of sales figures once the MLS settles in to the new provider. As is typical of February, the snow is on the ground and inventory does not change much. That does not mean there isn't still some pent up demand after a...
