Montana’s housing market posted a double-digit increase in the number of single-family homes sold across the state at the midway point of 2013, according to the Montana Association of REALTORS.
The association received sales data from across the state, and overall there was an increase of 14.8 percent in the number of single-family homes sold year-to-date in 2013 compared to the same time in 2012.
In nine major markets in Montana, 4,508 single-family homes have sold in 2013, compared to 3,927 in 2012. Additionally, the average sales price increased in every area while the average number of days a house was on the market dropped in nearly every area as well.
“Markets continue improving as potential buyers see that real estate has reached its floor and is now trending upward,” MAR President Pam Wood said in a statement. “More and more people are getting into the market and are taking advantage of great home prices.”
Missoula posted the largest increase in year-to-year sales of single-family homes compared to last year. The area had a 31 percent increase — 142 units — in the number of homes sold at the midway point of 2013.
Missoula was one of six markets to post double-digit percentage increases in the number of single-family homes sold, according to the association. The Helena Association of REALTORS was second at 25 percent, or 81 more homes. The Bitterroot was next, 20 percent or 39 homes, followed by Gallatin, 15 percent or 97 homes.
The Northwest Montana Board of REALTORS enjoyed a 15 percent increase, or 108 homes more than last year. Billings jumped 12 percent, or 118 homes.