Great Falls December 2019 Home Sales:
• 16 homes went under contract in Great Falls. This is up 23% from the same time period in 2018.
• 22% of the homes went to settlement December sold in 10 days or less from when they hit the market.
• Average sold price was $1,145,989 (down from the same time period in 2018 when it was $1,368,338).
• 8 homes came on the market. That is down 11% from December 2018.
• Homes that sold (closed) averaged 90 days on market, 2 days faster than in December of 2018.
• There is currently a 4.0 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Great Falls – and 95 Great Falls homes for sale.
Additional Year-End Stats – 2018 vs 2019:
Average sold price increased by 11% ($1,071,613 vs $1,187,775)
Total units sold increased by 21%
Average sales price to original list price ratio remained the same – 95%
OVERALL: Great Falls continues to move to a more balanced market…the month supply of homes decreased again this month (was 5.3 last month). December was a “quiet” month for this area (which is not unexpected during the holiday season)...only 16 homes went under contract and 8 new homes came on the market.
There is still a significant difference when we segment this market out by price…there is a 13.5 month supply of homes over $1.5 Million (this is down from last month when it was 15.9…properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price than in a Sellers Market), but in the under $1.5 Million price range – there is a 1.4 month supply (down from 2.0 last month) therefore a Sellers Market.
Your Home Value
Great Falls November 2019 Home Sales:
• 27 homes went under contract in Great Falls. This is up 58.8% from the same time period in 2018.
• 21% of the homes went to settlement November sold in 10 days or less from when they hit the market.
• Average sold price was $1,261,032 (up from the same time period in 2018 when it was $1,167,827)
• 28 homes came on the market. That is up 7.7% from November 2018.
• Homes that sold (closed) averaged 78 days on market, 12 days slower than in November of 2018.
• There is currently a 5.3 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Great Falls – and 126 Great Falls homes for sale.
OVERALL: Great Falls seems to be moving into a more balanced market…the month supply of homes decreased again this month (was 6.9 last month). We saw some other changes from last month like the average sales price increased and the average days on market decreased.
There is still a significant difference when we segment this market out by price…there is a 15.9 month supply of homes over $1.5 Million (this is down from last month when it was 18.4…properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price than in a Sellers Market), but in the under $1.5 Million price range – there is a 2.0 month supply (down from 2.9 last month) therefore a Sellers Market.
Great Falls October 2019 Home Sales:
• 25 homes went under contract in Great Falls. This is down 14% from the same time period in 2018.
• 10% of the homes went to settlement October sold in 10 days or less from when they hit the market.
• Average sold price was $982,653 (down from the same time period in 2018 when it was $1,105,850)
• 38 homes came on the market. That is down 5% from October 2018.
• Homes that sold (closed) averaged 88 days on market, 7 days faster than in October of 2018.
• There is currently a 6.9 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Great Falls – and 158 Great Falls homes for sale.
OVERALL: Great Falls remains in a Buyers Market although the month supply of homes decreased again this month (was 7.7 last month). No significant changes from last month but the average sales price did decrease by 13% from last month.
There is still a significant difference when we segment this market out by price…there is a 18.4 month supply of homes over $1.5 Million (up again from last month when it was 17.6…properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price than in a Sellers Market), but in the under $1.5 Million price range – there is a 2.9 month supply therefore a Sellers Market.
Great Falls September 2019 Home Sales:
• 31 homes went under contract in Great Falls. This is up 138.5% from the same time period in 2018.
• 26% of the homes went to settlement in July 2019, sold in 10 days or less from when they hit the market.
• Average sold price was $1,125,802 (up from the same time period in 2018 when it was $983,493)
• 45 homes came on the market. That is up 9.8% from September 2018.
• Homes that sold (closed) averaged 80 days on market, 8 days slower than in September of 2018.
• There is currently an 7.7 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Great Falls – and 170 Great Falls homes for sale.
OVERALL: Great Falls remains in a Buyers Market (although the month supply of homes decreased by almost 1 month). Most notable changes this month…the number of homes that went under contract increased significantly from September of last year, the average sold price increased from this time last year, and the average days on market decreased 22% from last month.
There is still a significant difference when we segment this market out by price…there is a 17.6 month supply of homes over $1.5 Million (up from 15.8 last month…properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price than in a Sellers Market), but in the under $1.5 Million price range – there is a 3.2 month supply therefore a Sellers Market (decrease from 4.0 last month).
Great Falls August 2019 Home Sales:
• 24 homes went under contract in Great Falls. This is up 71.4% from the same time period in 2018.
• 8% of the homes went to settlement in July 2019, sold in 10 days or less from when they hit the market.
• Average sold price was $1,455,440 (up from the same time period in 2018 when it was $1,021,716)
• 38 homes came on the market. That is up 15.2% from August 2018.
• Homes that sold (closed) averaged 100 days on market, 4 days slower than in August of 2018.
• There is currently an 8.5 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Great Falls – and 178 Great Falls homes for sale.
OVERALL: Great Falls remains in a Buyers Market. Most notable changes this month…the number of homes that went under contract went up 71.4% from August of last year, the average sold price increased from this time last year & from last month, and the average days on market increased 28% from last month.
There is still a significant difference when we segment this market out by price…there is a 15.8 month supply of homes over $1.5 Million (basically unchanged from last month…properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price than in a Sellers Market), but in the under $1.5 Million price range – there is a 4.0 month supply therefore a Sellers Market (this is unchanged from last month).
Great Falls July 2019 Home Sales:
• 24 homes went under contract in Great Falls. This is down 11.1% from the same time period in 2018.
• 32% of the homes went to settlement in July 2019, sold in 10 days or less from when they hit the market.
• Average sold price was $1,080,071 (up from the same time period in 2018 when it was $969,036)
• 36 homes came on the market. That is down 2.7% from July 2018.
• Homes that sold (closed) averaged 78 days on market, 2 days slower than in July of 2018.
• There is currently an 8.1 month supplyof homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Great Falls – and 178 Great Falls homes for sale
OVERALL: Great Falls remains in a Buyers Market. Compared to last month, fewer homes went under contract and came on the market, and the average sales price decreased. However, the average days on market decreased by 11% and the percent that sold in 10 days or less increased from 18% to 32%.
However, look at the difference when we segment it out by price…there is a 16month supply of homes over $1.5 Million (a significant decrease from last month but still very much a Buyers Market - properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price than in a Sellers Market), but in the under $1.5 Million price range – there is a 3.9 month supply therefore a Sellers Market (this is down from 4.3 last month).
Great Falls June 2019 Home Sales:
• 35 homes went under contract in Great Falls. This is up 16.67% from the same time period in 2018.
• 18% of the homes went to settlement in June 2019, sold in 10 days or less from when they hit the market.
• Average sold price was $1,142,372 (up from the same time period in 2018 when it was $1,016,208)
• 47 homes came on the market. That is up 17.50% from June 2018.
• Homes that sold (closed) averaged 89 days on market, 22 days slower than in June of 2018.
• There is currently an 8.1 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Great Falls – and 178 Great Falls homes for sale.
OVERALL: Great Falls is a Buyers Market. Compared to last month, the average sold price increased but fewer homes came on the market and homes took longer to sell.
However, look at the difference when we segment it out by price…there is a 20 month supply of homes over $1.5 Million (an increase from last month & very much a Buyers Market - properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price than in a Sellers Market), but in the under $1.5 Million price range – there is a 4.3 month supply therefore more of a Sellers Market (this is down from 5.4 last month).
Great Falls May 2019 Home Sales:
• 29 homes went under contract in Great Falls. This is down 14.71% from the same time period in 2018.
• 37% of the homes went to settlement in May 2019, sold in 10 days or less from when they hit the market.
• Average sold price was $1,031,615 (down from the same time period in 2018 when it was $1,068,739)
• 66 homes came on the market. That is up 1.54% from May 2018.
• Homes that sold (closed) averaged 78 days on market, 3 days slower than in May of 2018.
• There is currently a 8.9 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Great Falls – and 186 Great Falls homes for sale.
OVERALL: Great Falls is a Buyers Market. One notable change from last month was the decrease in average sold price ($1,428, 170 in April).
However, look at the difference when we segment it out by price…there is a 18.4 month supply of homes over $1.5 Million (very much a Buyers Market - properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price than in a Sellers Market), but in the under $1.5 Million price range – there is a 5.4 month supply therefore more of a Sellers Market.
Great Falls April 2019 Home Sales:
• 37 homes went under contract in Great Falls. This is up 27.59% from the same time period in 2018!
• 33% of the homes went to settlement in April 2019, sold in 10 days or less from when they hit the market.
• Average sold price was $1,428,170 (up from the same time period in 2018 when it was $1,244,640)
• 67 homes came on the market. That is up 13.56% from April 2018.
• Homes that sold (closed) averaged 88 days on market, 9 days faster than in April of 2018.
• There is currently a 8.1 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Great Falls – and 161 Great Falls homes for sale.
OVERALL: Great Falls remains in a Balanced Market. However, look at the difference when we segment it out by price…there is a 19.4 month supply of homes over $1.5 Million (very much a Buyers Market - properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price than in a Sellers Market), but in the under $1.5 Million price range – there is a 6 month supply therefore more of a Balanced Market.
