📊 August 2019 Market Data
As we head into fall, the market will naturally slow just a little bit. However, August was another strong month. We had 192 new listings come on the market throughout August, which brought our total number of active listings to 449. Of those, 148 went pending. As we've reported for the past several months, it's good for the market when the pendings are not equal to the new listings like they were for a couple years, as this indicates that we are slowly building up a little bit more inventory in our market.
178 homes closed in August, which brought our yearly total to 1,018. That is down just a little bit from 2018's number of 1045 YTD closings through August.
Our median days on market was 18 for August, which is consisten with 2018's number of 16 and 2017's number of 19. As you can see, many of our indicators remain strong and holding steady with the previous two years. There was talk in 2018 of interest rates rising, and many people speculated that the real estate industry would suffer as a result. But, that didn't come to pass and rates are as low as they have ever been. We just had a client lock-in at 3.625% - doesn't get much better than that!
As always, if you have any questions, don't hesitate to reach out. We're always happy to be helpful!
Bozeman Stats for August 2019