Single-family listings actually decreased last month compared to a year ago, and the median sales price decreased in November 1.2%, from $425,163 to $420,000.

Here's a breakdown on Gallatin Valley real estate statistics from the Gallatin Association of Realtors.

Single Family Market – Gallatin County – November 2019
The number of new single-family listings decreased 15.7% compared to November of 2018, falling from 83 to 70. Pending sales increased 40.9%, going from 66 to 93, and the number of closed sales fell slightly from 111 to 109, a 1.8% decrease.

The median sales price decreased 1.2%, from $425,163 to $420,000, while the average number of days on market until sale dropped 36.9%, from 65 to 41. The inventory of available homes decreased 3.4% compared to last year, falling from 466 to 450, and the months supply of inventory decreased 5.6%, from 3.6 to 3.4. Sellers received 97.8% of their list price in November, down slightly from 97.9% last year.

Condo/Townhouse Market – Gallatin County – November 2019
Median sale prices in the condo/townhouse market increased 10%, from $300,000 to $330,000. Sellers received 98.3% of their listing price last month, down slightly from 98.6% last year. The number of new listings decreased 33.3%, from 63 to 42. Pending sales rose by 23.2% from 52 to 64, while closed sales increased 9.5% from 63 to 69.

The average number of days on market fell 15.5%, from 71 last year to 60 last month. The inventory of available homes in the condo/townhouse sector increased 37.8% compared to last November, increasing from 193 to 266, while the months supply of inventory jumped 39.3% from 2.8 to 3.9.