Belgrade Montana Real Estate 4th Quarter Market Update
Belgrade Montana Real Estate 4th Quarter Market update The following graphs should help you understand where the market in Belgrade is for the 4th quarter of 2011. Market for Residential Real Estate in Belgrade, MT The previous graph indicates that the fourth quarter during the holiday season did not taper off as usual, but we actually sold a greater number than the previous quarter and have started to move some of those homes that had been stagnant on the market for awhile! This is great news for Belgrade, we are looking forward to carrying that momentum into the new year. Real Estate Inventory for Belgrade, MT This graph is an indication of our inventory, how well it is moving, and how long it might take to get your home sold. We refer to this as the Absorption Rate. If you have a single family home in Belgrade you are interested in selling, this chart indicates it may take about 4 months to sell. We have sold 35 in the last 3 months and have 49 on the market right now, the math then says we should sell that inventory in about 4 months if we continue to sell homes at the present rate. This is very similar to our 3rd quarter indicators as well, so no marked changes here. Obviously, if you have a home on more than one acre, the news looks a bit more bleak. That market has considerably more inventory than what we have sold. Current indicators suggest that you should plan on a 9 to 12 month marketing period before your buyer shows up, plan accordingly. Average Asking Price to Actual Sold Price The last chart I would like to share with you is the average asking price to sold price. As you can see, if you own a Single Family home under an acre, a condo, in the Belgrade area, there is very little negotiating on your asking price. This doesn't mean you haven't made price reductions to meet the market, but by the time you are negotiating with a buyer, you can usually expect to receive about 95% of what you are asking. If you have a home that is on more than one acre, as you can see, it is still rougher waters for you and you can expect to negotiate your price in order to secure a buyer. If you have further questions about Belgrade homes for sale, or would like to search the homes for sale in Belgrade Montana, please don't hesitate to call or email! We are your expert local real estate broker.