We last showed this chart on Sept. 9, having data through August, and folks have since been itching to know what happened during September and October. As requested, here are the single-family residence sales activity and trends over the past five years, by month sold (closed).
Takeaways: County-wide sale quantities spiked from July through October 2020 (so much that I had to change the vertical axis range), compared to past years, while median speeds from listing to contract (days to contract or DTC) collapsed to an eye-blink of only 10-15 days (remember it often takes another 30-45 days to get through due diligence and to actual closing). Many were pondering October numbers, and whether such would halt the spikes in quantity or slow the speed of going under contract. In a word, “nope.”
Richard Dews is CEO of Glacier Flathead Real Estate, a Flathead-based real estate software and services company.