November 2018 📊 Home Sales Data
Big change this month as for the first time in quite awhile, we didn't see more sales (64 homes pending) in November than new inventory (83 new listings). There is definitely an element of seasonality, but numbers are down from last year's numbers as well, so this may be the beginning of a "softening." The average home price was $455,000, which is down from October's number of $512,000. Closed sales for November were down quite a bit at 116 vs 157 in October.
With all the news of the stock market and a potential recession in 2019, times could be changing for our Bozeman market. But, time will tell. At this point, our $/sq ft is still very high, and Months Supply of Inventory and Days on Market are low. So, there are still positive indicators out there. The next couple months will be fun to watch!