Folks are trying to divine the top-of-market, watching each successive month’s statistics as soon as they become available, looking for indicators. Their inquiries drive my frequent refresh of this chart, as soon as I get new monthly data. I included sales of single-family residences, ranging in sold prices between $150,000 and $799,999, charting as bars the quantity (by month sold) and as lines the median days from listing to contract (DTC).
Median DTC, and sold price percentage of original list price, are indicators of buyers’ appetite and buyer competition. In May, DTC dropped to only five days. Median percentage was 104% in April and 102% in May.
Richard Dews is CEO of Glacier Flathead Real Estate, a Flathead-based real estate software and services company.