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What the heck is going on in the Helena Market?

Last year was considered a high demand, low inventory year.  Most realtors had buyers actively seeking properties, but we saw very few properties being offered for sale.  The median price in 2018 took a HUGE jump–approximately 18%.  In my 10 years in real estate, I’ve not seen a jump that big.
Summary Statistics Feb-19 Feb-18 Change%
Absorption Rate 2.34 2.41 -2.90
Average List Price $338,082 $324,121 4.31
Median List Price $309,650 $275,000 12.60
Average Sales Price $260,468 $211,491 23.16
Median Sales Price $249,950 $215,750 15.85
Average CDOM 97 113 -14.16
Median CDOM 72 110 -28.00
What will 2019 bring?  In analyzing the data, so far 2019 appears to be shaping up the same.  The winter months are typically quiet, and the extreme cold does put a chill on home buying as well, so we’ll keep this trend in perspective and watch more closely as the weather warms.   Inventory numbers are pm track or even lower than last year. And the upward march of interest rates have subsided, so that boosts affordability.
We’ve been seeing lots of out-of-state buyers heading this way. Even though Helena seems expensive to us locals, it is still “Regionally” a bargain.
Want more info?  Give a call, or drop us an email.  Oh, and we love referrals and promise to treat them with care……
Spring is right around the corner!

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Andy Onushco

Andy has been investing in Real Estate for over 20 years and has been a full-time professional in Helena for 10 years. In that time, he has risen to the top of local agents, with an emphasis on excellent customer service and going the extra mile. He also founded a property management company in Helena and enjoys working with real estate investors. Andy built a team to provide the best possible service and responsiveness. Our team works hard, have fun, and look forward to helping you with your home purchase or sale.

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