Looking at single-family residence sales by month sold over the past six years (original list prices $250,000 through $799,999), let’s chart as clustered columns the quantities sold, as same-colored lines the median days from listing to contract, and as same-colored dashed lines the median percentage of sold price to original list price.
Speaking first of quantity trends, notice the expansion from July through December 2020 (blue columns), continuing January through March 2021 (gold columns). Notice next the pullback of quantity sold, in July 2021 versus the prior year. Let’s compare next the speeds (median days from listing to going under contract), as same-color solid lines also using the left number axis: they really quickened from August last year onwards, accelerating to near eye-blink since February of this year. Finally, we’ll compare the median percentage of original list price they bring: rising prices are being met or exceeded, in a noticeable trend dating back to January of last year. Wow.
Richard Dews is CEO of Glacier Flathead Real Estate, a Flathead-based real estate software and services company.