October Inventory and Sales Data

The supply of homes within the Bozeman city limits declined 8% October 2009 from inventory levels in October 2008. This adjustment is a step in the right direction and over time should suggest a positive trend. The supply of homes in Belgrade decreased 21% October 2009 as compared to October 2008 indicating movement toward a general balance between buyers and sellers. As inventory levels tighten, buyers feel increased urgency to act especially in regard to well positioned properties. Nationwide housing inventory fell 3.7 % in October.

Active housing inventory within the Bozeman city limits has dropped below the number of homes sold in the past 10 months. The reduction in inventory represents an 8.64 month supply at the current sales pace. Homes priced under $250,000 are positioned to sell even faster based on absorption rates from the previous twelve months. Three of the factors contributing to home sales in October in Bozeman were the first time homebuyer tax credit, historically low mortgage rates and the renewed affordability of housing.

*Data collected from all members of Gallatin Association of Realtors MLS.

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