Real Estate Trends

A September to Remember! Gorgeous weather and a steady market. This is one of the most abundant closing markets for the real estate season and a beautiful interest rate drop will most certainly help this along. The election is heating up, with instability sending people our way once again. They feel safe in the mountains. . . and so do we!

As to the real estate market, the seasonality is setting in with fewer new listings on the market. Those older loans with low interest rate loans are also quite hard to part with when you have to start over with today's rates. The sales were up in most categories that is exactly as expected as this and October are GREAT closing months seasonally in this area.

Inventory is waning as well as the market is getting put to bed just like the boats and the kayaks. The winters tend to be a little slower here, but I always think that is an opportunity for very little competition if you don't mind moving in the winter. The buyers that come in the winter are usually quite serious!

Sanders bumped up to slightly seller's market territory, all stats considered. Properties that are priced well, are still going rather quickly, but overall days on market for residential grew to 166 days average for sold properties. 44% of listings decreased their price which is lower than last month, again seasonally typical.

In September for residential, 15 homes sold, with 96 listed and 27 under contract. Land was less positive. The market is dwindling down right now, with less listings trickling on the market. The interest rates have had a little relief, but not enough yet to make a change in the market. From the ground, election years cause fits and starts depending on the news. Hang on. . . May October have beautiful colors in the changing foliage and great temperatures for hunting season!!

Batten down the hatches! Those last few nights of freezes having me like a squirrel gathering acorns. . . it is time to make sure the firewood is ready, the hoses are put away, the winterization is done where needed and the irrigation lines have been blown out. Once your chores are done and the chimney is clean, you can get that snow shovel, put it by the front door next to the snow shoes and skiis and get ready for the an amazing winter wonderland season!!!!

SEPTEMBER

Ranch

4 active (down), $1,818,250 average listing price (up), 0 sales and pending.

Residential Homes

96 active (down), 15 sold (up), 27 under contract (same), 3 pending (up), $514,080 average sold price (up), $804,792 average listing price (up)

Land and Lots

133 active (down), 6 sold (down), sold price average $476,000 (up), 12 under contract (same), 1 pending (same), $332,574 average listing price (down)

Commercial

14 active (down), 0 under contract (down), 1 sold (same), $1,806,929 average listing price (up)

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