According to new statistics released by the Gallatin Association of REALTORS® (GAR), new listings and pending sales are up and the number of days on market is down for single family homes and condos in the Gallatin Valley.

“The Gallatin area real estate market remains strong as we move through Winter,” said Claire Gillam, GAR Board President, “Demand for homes in our area remains high and sellers are receiving 98% of their list price. We expect the market to stay in strong shape as Spring approaches.”

Single Family Market – Gallatin County – December 2019

The number of new single-family listings increased 2.9% compared to December of 2018, rising from 69 to 71. Pending sales increased 37%, from 73 to 100, and the number of closed sales decreased from 111 to 97, a 12.6% drop. The median sales price increased over December 2018 by 6.1%, from $410,000 to $435,000, while the average number of days on market until sale dropped 21.4%, from 84 to 66. The inventory of available homes decreased 8.1% compared to last year, falling from 420 to 386, and the months supply of inventory decreased 12.1%, from 3.3 to 2.9. Sellers received 98.2% of their list price in December, up slightly from 97.7% last year.

Credit: Gallatin Association of Realtors

Condo/Townhouse Market – Gallatin County – December 2019

Median sale prices in the condo/townhouse market decreased 5.5%, from $304,750 to $288,000. Sellers received 98.6% of their listing price last month, up slightly from 98.5% last year. The number of new listings increased 17.4%, from 46 to 54. Pending sales rose by 28.6% from 35 to 45, while closed sales increased 6.3% from 63 to 67. The average number of days on market fell 58.2%, from 91 last year to 38 last month. The inventory of available homes in the condo/townhouse sector increased 28.5% compared to last December, increasing from 193 to 248, while the months supply of inventory jumped 28.6% from 2.8 to 3.6.