I looked at median list and sold prices, time-to-contract, time-to-close, median square foot list and sold pricing, and quantities sold (for Flathead County single-family residences, 3-5 bedrooms, 1+ bathrooms, 1,200-3,500 square feet). I analyzed these by list price ranges of $100,000, from $200,000 to $299,999, $300,000 to $399,999, etc.
The 2019 median days from listing to contract continues to be less than 30 days for all but $500,000 to $700,000 – and those are only around 45 days. Due diligence period, between contract and closing, was largely around 40 days, across the ranges for 2019 April-July. Median per square foot pricing (list or sold) increased $10-20/ft, between 2017 and 2018 for $200,000 to $600,000. 2019 saw roughly the same square foot pricing as 2018 for $300,000 to $600,000 – but another $10 increase for the $200,000 to $300,000 range.
Quantities sold? Least expensive range keeps stair-stepping downward, from 170 to 130 over the past three years. $200,000 to $300,000 quantities increased from 100 to 130 over the same period. $400,000 to $500,000 went from 45, to 60, to 75. $500,000 to $600,000 went from less than 20 to over 40. Above that range, quantity changes are reasonably consistent and relatively minimal (10-15 per year, over the same four months).
Richard Dews is CEO of Glacier Flathead Real Estate, a Flathead-based real estate software and services company.
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