Real Estate Market Trends

Flathead home sale speeds and percent of original list price, past five years

By Richard Dews
© Copyright 2020 by Richard Garrett Dews. All rights reserved. Research based, in part, upon information from the Montana Regional MLS, LLC

Back in February, we presented a chart showcasing the Flathead County single-family residence sales in median days from listing to contract, by month listed. Let’s do it again (see left axis for lines), adding 2020 data (gold), but let’s show the median sales speeds (days from listing to contract) and median sale price percentage of original list price — by month sold.  I pruned the chart to only depict those homes sold/closed between January and June of each year, for original list prices between $150,000 and $699,999.

The speed of sale is depicted as vertical bars, using left axis measurements. Remember, it usually takes another 30-45 days of due diligence (inspection, appraisal, title work, etc) to get to actual closing. Let’s add lines with markers, in respective colors by year, depicting the median percentage of original list price that they actually attained (using right axis). Takeaways: in 2020, homes sold/closed in March took half the time from listing to contract, compared to recent years. Homes sold in Jan-Feb ‘20 brought roughly 96% of their original list price, increasing to 99% in June.

Richard Dews is CEO of Glacier Flathead Real Estate, a Flathead-based real estate software and services company.

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