Great Falls December 2020 Home Sales:

• 17 homes went under contract in Great Falls. This is up 6.3% from the same time period in 2019.

• 40% of the homes went to settlement in December 2020 sold in 10 days or less from when they hit the market. 

• Average sold price was $1,509,999 (up 32% from the same time period in 2019 when it was $1,145,989).

• 9 homes came on the market. That is up 12.5% from December 2019.

• Homes that sold (closed) averaged 53 days on market, 37 days faster than in December of 2019.

• There is currently a 2.0 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 55 Great Falls homes for sale (townhouse, condo and single-family).

Additional Year End Stats – 2019 vs 2020:

Average sold price increased by 13.3% ($1,187,775 vs $1,345,755)

Total units sold increased by 15.8%

Average sales price to original list price ratio increased – 93.6% vs 97.8%

OVERALL: Great Falls continues to be closer to a Balanced Market.  We saw activity in this market slow over the month, expected given the holiday season (although many numbers are still up from this time period last year), and low inventory remained to be an issue in Great Falls. 

There is still a difference when we segment this market out by price…there is a 3.9 month supply of homes over $1.5 Million (however down from 4.5 last month)…more of a Buyer’s Market where properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price), but in the under $1.5 Million price range – there is a 0.3 month supply therefore an aggressive Seller’s Market.

Great Falls November 2020 Home Sales:

• 23 homes went under contract in Great Falls. This is down 15% from the same time period in 2019.

• 52% of the homes went to settlement in November 2020 sold in 10 days or less from when they hit the market. 

• Average sold price was $1,447,329 (up 15% from the same time period in 2019 when it was $1,261,032).

• 21 homes came on the market. That is down 25% from November 2019.

• Homes that sold (closed) averaged 58 days on market, 20 days faster than in November of 2019.

• There is currently a 2.6 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 76 Great Falls homes for sale (townhouse, condo and single-family).

OVERALL: Great Falls continues to be closer to a Balanced Market.  Activity was still down year-over-year (as well as compared to last month) but average sold prices continued to rise.

There is still a significant difference when we segment this market out by price…there is a 4.5 month supply of homes over $1.5 Million (however down from 6.6 last month)…more of a Buyer’s Market where properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price), but in the under $1.5 Million price range – there is a 0.3 month supply therefore an aggressive Seller’s Market.

Great Falls October 2020 Home Sales:

• 24 homes went under contract in Great Falls. This is down 4% from the same time period in 2019.

• 41% of the homes went to settlement in October 2020 sold in 10 days or less from when they hit the market. 

• Average sold price was $1,423,795 (up 45% from the same time period in 2019 when it was $982,653).

• 32 homes came on the market. That is down 16% from October 2019.

• Homes that sold (closed) averaged 44 days on market, 44 days faster than in October of 2019.

• There is currently a 2.4 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 67 Great Falls homes for sale (townhouse, condo and single-family).

OVERALL: Great Falls continues to be closer to a Balanced Market.   One significant thing to note is the average sales price in this area is up 45% from this time last year.

There is still a significant difference when we segment this market out by price…there is a 6.6 month supply of homes over $1.5 Million (down from 8.4 last month)…more of a Buyer’s Market where properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price than in a Seller’s Market), but in the under $1.5 Million price range – there is a 0.8 month supply therefore an aggressive Seller’s Market.

Great Falls September 2020 Home Sales:

• 36 homes went under contract in Great Falls. This is up 16% from the same time period in 2019.

• 39% of the homes went to settlement in September 2020 sold in 10 days or less from when they hit the market. 

• Average sold price was $1,733,612 (up 54% from the same time period in 2019 when it was $1,125,802).

• 38 homes came on the market. That is down 16% from September 2019.

• Homes that sold (closed) averaged 76 days on market, 4 days faster than in September of 2019.

• There is currently a 3.0 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 81 Great Falls homes for sale (townhouse, condo and single-family).

OVERALL: Great Falls continues to be closer to a balanced market.   Market activity in this area slowed down somewhat in September, however, the stats are still up by double-digit percentages in many categories year-over-year.  One significant thing to note is the average sales price in this area is up over 50% from this time last year and 26% from just the pervious month.

There is still a significant difference when we segment this market out by price…there is a 8.4 month supply of homes over $1.5 Million (down from 10.8 last month)…more of a Buyers Market where 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 0.6 month supply therefore a Sellers Market.

Great Falls August 2020 Home Sales:

• 94 homes went under contract in McLean. This is up 4.4% from the same time period in 2019. 

• 35% of the homes went to settlement in August 2020, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,164,243 (up 7% from the same time period in 2019 when it was $1,087,359).

• 128 homes came on the market. That’s up 9.4% from August of 2019.

• Homes that sold (closed) averaged 46 days on market, 3 days slower than in August of 2019.

• There is currently a 3.6 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 McLean – and 262 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remains in a Seller’s Market.  This market slowed down a bit in August and is a bit more in line with the numbers from this time last year.

The difference in markets based on price is still significant in this area.  There is an 8.7 month supply of homes over $1.5 Million in McLean making that price range definitely 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 2.1 month supply (inventory continues to be low and homes are selling faster in this range).

Great Falls July 2020 Home Sales:

• 44 homes went under contract in Great Falls. This is up 83% from the same time period in 2019.

• 54% of the homes went to settlement in July 2020 sold in 10 days or less from when they hit the market. 

• Average sold price was $1,242,248 (up 15% from the same time period in 2019 when it was $1,080,071).

• 52 homes came on the market. That is up 44% from July 2019.

• Homes that sold (closed) averaged 47 days on market, 61 days faster than in July of 2019!

• There is currently a 3.6 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 91 Great Falls homes for sale (townhouse, condo and single-family).

OVERALL: Great Falls continues to be closer to a balanced market.   You will notice above that many of the numbers compared to the same time period last year have increased dramatically.

There is still a significant difference when we segment this market out by price…there is a 13.1 month supply of homes over $1.5 Million (down again from 16.7 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 0.8 month supply therefore a Sellers Market.

Great Falls June 2020 Home Sales:

• 41 homes went under contract in Great Falls. This is up 17% from the same time period in 2019.

• 32% of the homes went to settlement in June 2020 sold in 10 days or less from when they hit the market. 

• Average sold price was $1,160,190 (up 1.6% from the same time period in 2019 when it was $1,142,372).

• 38 homes came on the market. That is down 19.2% from June 2019.

• Homes that sold (closed) averaged 38 days on market, 18 days faster than in June of 2019.

• 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 (townhouse, condo and single-family).

OVERALL: Great Falls continues to be in a more balanced market.  The number of homes that went under contract increased again in June and year-over-year.   The number of homes that came on the market is down again however, compared to this time last year.  As with many other areas, inventory continues to remain low and even decreased again since May.

There is still a significant difference when we segment this market out by price…there is a 16.7 month supply of homes over $1.5 Million (down from 18.7 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 0.7 month supply therefore a Sellers Market.

Great Falls May 2020 Home Sales:

• 32 homes went under contract in Great Falls. This is up 10.3% from the same time period in 2019.

• 33% of the homes went to settlement in May 2020 sold in 10 days or less from when they hit the market. 

• Average sold price was $1,177,198 (up 14.1% from the same time period in 2019 when it was $1,031,615).

• 38 homes came on the market. That is down 42.4% from May 2019.

• Homes that sold (closed) averaged 53 days on market, 3 days faster than in May of 2019.

• There is currently a 4.2 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 101 Great Falls homes for sale (townhouse, condo and single-family).

OVERALL: Great Falls continues to be in a more balanced market.   Unlike last month, the number of homes that went under contract and that came on the market increased.  Compared to this time last year, the number of homes that went under contract is up (along with the Average Sold Price), however, the number of homes that came on the market is down again significantly…expected given the current Coronavirus environment.  Inventory continues to remain low.

There is still a significant difference when we segment this market out by price…there is a 18.7 month supply of homes over $1.5 Million (up from 16.6 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 0.8 month supply (down from 1.2 last month) therefore a Sellers Market.

Great Falls April 2020 Home Sales:

• 26 homes went under contract in Great Falls. This is down 29.7% from the same time period in 2019.

• 58% of the homes went to settlement in April 2020 sold in 10 days or less from when they hit the market. 

• Average sold price was $1,234,217 (down 13.6% from the same time period in 2019 when it was $1,428,170).

• 33 homes came on the market. That is down 50.8% from April 2019.

• Homes that sold (closed) averaged 55 days on market, 15 days faster than in April of 2019.

• 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 105 Great Falls homes for sale (townhouse, condo and single-family).

OVERALL: Great Falls continues to be in a more balanced market.  As with last month, the number of homes that went under contract and that came on the market decreased.  And, compared to this time last year, these numbers were down significantly…expected given the current Coronavirus environment.  Also of note, Average Sold Price is down year-over-year and inventory continues to remain low.

There is still a significant difference when we segment this market out by price…there is a 16.6 month supply of homes over $1.5 Million…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 1.2 month supply therefore a Sellers Market.

Great Falls March 2020 Home Sales:

• 26 homes went under contract in Great Falls. This is down 13% from the same time period in 2019.

• 48% of the homes went to settlement in March 2020 sold in 10 days or less from when they hit the market. 

• Average sold price was $1,228,844 (down 6.4% from the same time period in 2019 when it was $1,312,178).

• 57 homes came on the market. That is down 14% from March 2019.

• Homes that sold (closed) averaged 59 days on market, 3 days slower than in March of 2019.

• There is currently a 4.1 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 107 Great Falls homes for sale (townhouse, condo and single-family).

OVERALL: Great Falls continues to be in a more balanced market.  As expected given the current Coronavirus pandemic, the number of homes that went under contract and came on the market were down 13% and 14% respectively from the same time period last year.  Compared to last month, the rest of the numbers are fairly similar but the homes that sold did sell faster (see “average days on market” above).

There is still a significant difference when we segment this market out by price…there is a 15.6 month supply of homes over $1.5 Million (down from 18.3 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 remains a 1.7 month supply therefore a Sellers Market.

Great Falls February 2020 Home Sales:

• 32 homes went under contract in Great Falls. This is up 60%  from the same time period in 2019. 

• 37% of the homes went to settlement in February 2020 sold in 10 days or less from when they hit the market.  

• Average sold price was $1,209,722 (up 13.6% from the same time period in 2019 when it was $1,064,406).

• 49 homes came on the market. That is up 36.1% from February 2019.

• Homes that sold (closed) averaged 77 days on market, 23 days slower than in February of 2019.

• There is currently a 4.1 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 103 Great Falls homes for sale (townhouse, condo and single-family).

OVERALL: Great Falls continues to move to a more balanced market…the month supply of homes increased this month (was 3.5 last month).  Activity picked up again in February with the number of homes coming on the market and going under contract increasing.  However, homes are taking longer to sell.

There is still a significant difference when we segment this market out by price…there is an 18.3 month supply of homes over $1.5 Million…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 1.7 month supply, therefore, a Sellers Market.

Great Falls January 2020 Home Sales:

• 20 homes went under contract in Great Falls. This is unchanged from the same time period in 2019. 

• 14% of the homes went to settlement in January 2020 sold in 10 days or less from when they hit the market.  

• Average sold price was $1,093,442 (down 10% from the same time period in 2019 when it was $1,216,222).

• 31 homes came on the market. That is down 18.4% from January 2019.

• Homes that sold (closed) averaged 52 days on market, 11 days slower than in January of 2019.

• There is currently a 3.5 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 88 Great Falls homes for sale.

OVERALL: Great Falls continues to move to a more balanced market…the month supply of homes decreased again this month (was 4.0 last month).  Activity picked up a bit in January with the number of homes coming on the market and going under contract increasing.  However those numbers are down or unchanged from the same time period in 2019.

There is still a significant difference when we segment this market out by price…there is a 16.2 month supply of homes over $1.5 Million (this is up from last month when it was 13.5)…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 1.6 month supply therefore a Sellers Market.