Now that we have comprehensive home sales data for October 2020, let’s look at single-family residence annual sales quantities, median days from listing to contract, and median cost per square foot, by square footage range, since 2017, for homes sold at prices between $200,000 and $799,999 (see chart). We’re focusing on sales Jan. 1 through Oct. 31, each year for the past four years.
The 2017 numbers are in green, 2018 are orange, 2019 are blue and 2020 are gold. Vertical bars show quantity of sales, dashed lines show median days from listing to contract (add roughly another 45 for due diligence to get to closing), and solid lines show median sold price per square foot.
County-wide, the price per square foot continues upward this year (over prior years), for all square foot ranges. Median days from listing to contract were also the lowest (for all segments but 3,000 to 3,499 square feet) in 2020, compared to prior years. With few exceptions, quantities of sales (annually for these periods) keep rising, as do cost per square foot – yet they are being snapped up quickly.
Richard Dews is CEO of Glacier Flathead Real Estate, a Flathead-based real estate software and services company.