Let’s study the quantity of Flathead County active listings (homes for sale). I’ve compared the number of single-family residences on the market now, with past quarter-end snapshots (vertical bars). I’ve also compared median days on market (dashed lines), now and for previous period ends (same colors per period). I organized the statistics into original list price range blocks of a hundred thousand dollars, from $200k to $800k.
Green bars and line was a year ago; gray last June; orange last September; gold last December; blue bars and line represent data as of March 29, 2020. Fewer homes are on the market now, compared to a year ago, in every original list price range. They have also been on the market fewer days (often by two-thirds) for all but one of the price ranges, compared to a year ago. For five out of seven ranges, median days on market now are similar to last June’s durations (gray line), and greatly reduced in comparison to end-of-year numbers (gold line). This latter drop happens when listings come off the market near the end of the year, by cancellation, expiration or withdrawal.
Richard Dews is CEO of Glacier Flathead Real Estate, a Flathead-based real estate software and services company.