📊July 2019 Market Reports
Once again, new listings coming on the market exceeded our pending solds (202 vs 154). Hooray! That means that not every single house that comes on the market goes under contract nearly immediately. As we've said the past couple months, this seems like a good sign because it gives homebuyers a little bit of breathing room. The pattern of rushing over to a new listing the minute it comes on the market and feeling pressured to make a full price offer is unsettling, so less of that is better!
Total active listings in June rose to 424. This is down slightly from last year. Looking at what has sold so far this year, 840 homes have closed year to date. 180 of those closed in July, up from 149 in July of 2018. The average sales price in July was $521,000. This may mean the entire market is going up in price, but it could also have more to do with the mix of homes that sold in July.
The statistic that would likely be most helpful to homeowners wondering what their home might be worth is the price/square foot. That number for July is $232. So, if you live in a 2000 square foot home in Bozeman, it's reasonable to think it might be worth roughly $464,000. DISCLAIMER: This is an average, and these numbers can vary by neighborhood, location, land, and finish of the home.