Bozeman Area Real Estate Market Report May 2017
As it has been for quite some time, the Bozeman area real estate market is on fire. Demand remains high, and inventory remains low, creating a Seller's market. Below are your Bozeman and Belgrade area Real Estate Market Reports.
Bozeman Single Family Homes Real Estate Market
Currently there are 217 sales pending in the market overall, leaving 224 listings still for sale. (See Bozeman Single Family Homes currently on the market HERE.) The resulting pending ratio is 49.2% (217 divided by 441). So you might be asking yourself, that's great... but what exactly does it mean? I'm glad you asked! The pending ratio indicates the supply & demand of the market. Specifically, a high ratio means that listings are in demand and quickly going to contract.
Alternatively, a low ratio means there are not enough qualified buyers for the existing supply. Taking a closer look, we notice that the $200K - $400K price range has a relatively large number of contracts pending sale.
We also notice that the $400K - $600K price range has a relatively large inventory of properties for sale at 67 listings. The median list price (or asking price) for all properties in this market is $673,900.
View the full report here: Bozeman Single Family Real Estate Market Report
Bozeman Condos Real Estate Market
Currently there are 125 sales pending in the market overall, leaving 57 listings still for sale. (See Bozeman Condos currently on the market HERE.) The resulting pending ratio is 68.7% (125 divided by 182).
The pending ratio indicates the supply & demand of the market. Specifically, a high ratio means that listings are in demand and quickly going to contract. Alternatively, a low ratio means there are not enough qualified buyers for the existing supply.
Taking a closer look, we notice that the $200K - $300K price range has a relatively large number of contracts pending sale. We also notice that the $200K - $300K price range has a relatively large inventory of properties for sale at 16 listings. The median list price (or asking price) for all properties in this market is $321,500.
View the full report here: Bozeman Condo Real Estate Market Report
Belgrade Single Family Homes Real Estate Market
Currently there are 60 sales pending in the market overall, leaving 34 listings still for sale. (See Belgrade Single Family Homes currently on the market HERE.) The resulting pending ratio is 63.8% (60 divided by 94).
The pending ratio indicates the supply & demand of the market. Specifically, a high ratio means that listings are in demand and quickly going to contract. Alternatively, a low ratio means there are not enough qualified buyers for the existing supply.
Taking a closer look, we notice that the $200K - $400K price range has a relatively large number of contracts pending sale. We also notice that the $200K - $400K price range has a relatively large inventory of properties for sale at 16 listings. The median list price (or asking price) for all properties in this market is $452,200.
View the full report here: Belgrade Single Family Home Real Estate Market Report
Belgrade Condos Real Estate Market
Currently there are 13 sales pending in the market overall, leaving 7 listings still for sale. (See Belgrade Condos currently on the market HERE.) The resulting pending ratio is 65.0% (13 divided by 20).
The pending ratio indicates the supply & demand of the market. Specifically, a high ratio means that listings are in demand and quickly going to contract. Alternatively, a low ratio means there are not enough qualified buyers for the existing supply.
Taking a closer look, we notice that the $200K - $250K price range has a relatively large number of contracts pending sale. We also notice that the $100K - $150K price range has a relatively large inventory of properties for sale at 4 listings. The median list price (or asking price) for all properties in this market is $149,500.
View the full report here: Belgrade Condo Real Estate Market Report
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