Single family home sale prices jumped in August around Gallatin County. The median sales price was $465,500, an increase of 7.9% over August of 2018.

The Gallatin Association of Realtors release monthly details about the housing marking in Gallatin County.

According to information released by the GAR on 9/19/19:

  • The median sales price increased 7.9%, from $431,250 to $465,500.
  • The average number of days a home spent on the market decreased 16.7%, from 54 to 45.
  • The inventory of available homes decreased 13.9% compared to last year, dropping from 575 to 495, and the months supply of inventory fell 15.9%, from 4.4 to 3.7.
  • Sellers received 98.2% of their list price in August, a slight increase from 98.0% last year.

Condo prices actually DECREASED over August of 2018.

  • Median sale prices in the condo/townhouse market decreased 4.4%, from $292,900 to $279.950.
  • The inventory of available homes in the condo/townhouse sector increased 37.1% compared to last August, rising from 205 to 281, while the months supply of inventory rose 38.7%, from 3.1 to 4.3.
Photo: Ally H.

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