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.
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Spring is right around the corner!
