Real Estate Trends

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 period of historically low inventory. January still brought a bidding war or two, although those days are waning quickly! One school of thought is that the best time to list is in the spring when the grass turns green. This is not always the case in a market of low listing inventory. It may be better to list before the competition hits the market while there is still snow.

FEBRUARY

Residential Homes

61 active, 1 pending, $748,700 average price

Land and Lots

85 active, 1 pending, $282,325 average price

Farm

2 active, $1,587,500 average price

Commercial

11 active, $561,091 average price

Spring is coming. Will there be more inventory, which would begin to curb the price increases? Time will tell. Until next month...

Tina Daugherty is a Broker Associate with Realty Northwest in Thompson Falls and has been selling real estate for 30 years. Reach her at [email protected].