Bitterroot Valley Residential Market Update
Welcome to spring in the Bitterroot Valley. Make sure you have a coat with you because it is our typical Montana spring, with ever changing weather. We are all ready for the temperatures to warm up!
The valley real estate market has been busy this spring. We are slightly off the pace of a year ago with 120 homes selling so far this spring, compared to 148 in 2016. Pending sales are up from last year so I’m sure we will catch up and probably even exceeding last year.
We are down by almost 20% on the number of homes currently on the market. Because of this we are seeing an increase in home prices and shorter days on the market.
We are seeing the most activity in the $200,000 to $300,000 price range in home sales. This is also the price range where the market is down 25% on active listings from a year ago.
If you are considering selling it is an excellent time to put your home on the market. The current housing inventory is low and so are interest rates. Give us a call for a Comparative Market Analysis. You might be surprised at the outcome.
Stats pulled May 1 2017 from Bitterroot Valley Board of REALTORS MLS.