Latest Market Conditions for Gallatin County, MT and Fremont County, ID.

Peter Young's picture
Submitted by Peter Young on Fri, 04/29/2011 - 18:47

4/29/2011 - The first quarter market statistics for Gallatin County, Montana have come out and it really is a mixed bag. Starting with single family homes in the county the average sales price is up from last year but the median sales price is slightly down.  Also, the average days on market has increased so far in 2011 to 142 days from the average of 117 in 2010.  In anticipate this number will drop with the summer selling season of quarter #2.

Average and median home sale prices in the Bozeman area are both slightly down from last year and the days on market has gone up 26 days from 110 to 136.  Prices in Belgrade are stable compared to last year but volume, prices and days on market are all very strong for the town of Manhattan.  Three Forks has seen very little volume.

Prices for condos and townhomes in the Bozeman and Belgrade area continue to decline.   While volume has been relatively low the average median sale price for a condo in the Belgrade area is only $64,900!  These number should be watched carefully and I will try and update this site as best I can.  I think the condo market in the Bozeman & Belgrade area is a great opportunity right now for the new investor.

In Fremont County, Idaho the news is not good.  Year to date there have been only 26 sales county wide; this takes in all property types.  Compare that number with 40 sales this time last year and 129 during the boom year of 2006.  Last year was a very slow year for Fremont County and this year is shaping up for more of the same.  The huge drop in sales volume from 2006 and 2007 to now is largely due to the lack of bare land sales.  Bare land sales used to make up well over half of my yearly sales volume (that is number of sales not total dollar volume), now they are less than a third.  This has opened up a huge buying opportunity for the savy buyer in Fremont County.  Bare land prices in some areas - like the Teton View subdivision where I have a number of listings - have dropped to their pre-boom prices.