Real Estate Trends

by Tina Daugherty

September feels like fall, not only in weather. . . August, September and October are always the most active selling months of the season, but all numbers are down but one. The inventory levels are down slightly in September indicating more of a seller's market, which is typical of seasonality (who likes to move in the winter), but so are the sales which is indicative of a buyer's market. Pending sales were down, which is a leading indicator, but again seasonal and indicative of a buyer's market. Days on market is 87 for those properties that sold. Those properties that are priced well go quickly and there are still the very occasional multiple offers, while the overpriced or those testing the market sit a bit longer.

The days on market median is 87 (up from 71) in Sanders County for September. Percentage of list price is 96.7%. The months of supply for Sanders County is 12, back to a year on the market. In September for residential, 17 (down from 22) homes sold, with 112 listed. Land was pretty balanced with 11 bare land sales, although average sales price took a dive with smaller acreages selling. With inventory relatively stagnant during this late season and the market slowing a bit, prices are still holding their own but I continue to feel a cool breeze blowing through the market. . . for now.

October is so beautiful with the leaves changing in Montana. The rains are back and the fire season is over. These are the days to prepare for winter. Hunting season is upon us and all that fun you wanted to have up in the mountains. . . now is the time to get out there on your bike or camping or hiking before you get to strap on the snow shoes!

SEPTEMBER

Ranch: 4 active (down), $1,386,999 average listing price (down), 0 sales and pending.

Residential Homes: 112 active (down), 17 sold (down), 0 pending (down), $538,588 average sold price (up), $729,916 average listing price (down)

Land and Lots:

133 active (down), 11 sold (down), sold price average $152,000 (down), 0 pending (down), $423,027 average listing price (down)

Commercial: 11 active (down), 0 sold (down), $737,636 average listing price (up)

Data from CoreLogix, Montana Regional MLS. Data does not include private sales.

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].