📊 May 2019 Market Reports
We are really encouraged to see that the market finally "broke loose" in May! For the first time in many months, our new listings (227) outnumbered pending sales (176), which means that a little inventory was added to the market overall (227-176 = 51). Total active listings in Bozeman came in at 327.
It would appear that our long, cold winter may have been partly to blame for it taking until May for us to see these kinds of numbers. For example, our total Bozeman sales for the year was 503 as of May. But last year, we had sold 566 homes in the same time period. It seems like heavy snow well into April may have held off new listings, which kept inventory tight and hampered overall sales. Now that we're seeing more inventory coming on, I suspect the numbers will balance out by the end of the year.
The average sales price was down just slightly from last month at $468,000. That's good news for consumers. Oh! And rates are lower than expected as well, hovering right around 4%. So, lots of good news this month. Let us know what questions we can answer or how we can be helpful for you. Your peace of mind is our only goal!