What wonderful spring weather we're having! We're welcoming our feathered friends back - Don saw a Lazuli Bunting this week! The goldfinches have turned to their brilliant yellow summer plumage. We're enjoying seeing the calves on the Ham ranch in Bridger Canyon. Elk are calving and we're seeing fawns. And wildflowers are pushing their heads up in the forests and meadows. Most glorious, though, are the pink, rose, and white apple and crabapple trees all over town - and the sunny yellow forsythia.
With spring, we're thrilled that the real estate market in our area is showing signs of recovery. These statistics compare numbers from Jan. to April 2012 to 2013.
1. Single Family Inventory:
Bozeman City is down 25% from a year ago.
Bozeman Area is down 8%
Belgrade Area is down 26%
2. # of Sales:
Bozeman City # of sales are up 11% from a year ago.
Bozeman Area # of sales is up 27%
Big Sky # of sales are up 136%!
3. Median Sales Price of Single-Family:
Bozeman City is up 4%
Bozeman Area up 13%
Belgrade Area up 23%
4. Condo/Townhouse inventory is down 20% and sales are down 9% in Bozeman.
5. Miscellaneous Stats:
# of sales in April in areas of Bozeman, Belgrade, and Manhattan are almost 3x sales in April 2009.
# of sales in those same areas were 272 versus 156 at the end of April 2012.
6. Average absorption rate (how long it would take to clear out all the inventory at the same rate as the last 12 months) in Bozeman City, under $300,000, is 7 months, compared to a year ago April when it was 13 months.
7. Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.48 percent (as of 5/14), up from 3.39 percent at this same time last week. Still very low. NOW'S THE TIME TO BUY!
8. Vacant land inventory is down 53% in Bozeman, and 15% in Bozeman Area compared with April 2012. Sales are up 40% and 58% in those areas, respectively. We can see a huge turnaround in the building already in process. We're even seeing sales of larger acreages - 20-300 acres.
FOR SPECIFIC, INDIVIDUAL STATS - JUST GIVE US A CALL! We'd be happy to give you an idea of what your property is worth in this market. When moving across the same market, you can take advantage of low-interest rates and a better possibility of selling your property with a low inventory level.
Please feel free to contact us at any time for details on the market for your specific needs.
Warmly,
Sharon and Brian
TWO Generations Serving ALL Generations
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Sharon Tudor Isler, Broker, CRS, GRI, SRES 406-556-5048
Sharon@Bozeman-RealEstate.com
Brian Tudor, Sales Associate, GRI, GREEN, SFR 406-556-5068
Brian@Bozeman-RealEstate.com
BRIDGER CANYON INFORMATION www.BridgerCanyonNews.com
SEARCH ALL AREA LISTINGS: www.BozemanPropertySearch.com
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