The supply of homes within the Bozeman city limits declined 26% in December 2009 from inventory levels in December 2008. This adjustment continues to be a step in the right direction and has been a positive trend for the past 3 months. The supply of homes in Belgrade decreased by 29% in December 2009 as compared to December 2008 indicating progress toward a general balance between buyers and sellers. As inventory levels tighten, buyers have fewer choices in the marketplace which can increase their urgency to buy.
Active housing inventory within the Bozeman city limits has dropped below the number of homes sold in the past 12 months. The reduction in inventory represents an 11.11-month supply at the current sales pace. Homes priced under $275,000 are positioned to sell even faster: 4.39 months based on absorption rates from the previous twelve months.
*Data collected from all members of the Gallatin Association of Realtors MLS.
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