Great Falls July 2021 Home Sales:
• 24 homes went under contract in Great Falls. This is down 45% from the same time period in 2020.
• 69% of the homes went to settlement in July 2021 sold in 10 days or less from when they hit the market.
• Average sold price was $1,461,802 (up 18% from the same time period in 2020 when it was $1,242,248).
• 42 homes came on the market. That is down 19% from July 2020.
• Homes that sold (closed) averaged 36 days on market, 11 days faster than in July of 2020.
• There is currently a 1.9 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 57 Great Falls homes for sale (townhouse, condo and single-family).
OVERALL: Great Falls continues to be more of a Seller’s Market. We saw a bit of a slowing of the market in this area during July as well as year-over-year. That said, the average sold price continued to increase from the same time period last year.
There is still a difference when we segment this market out by price…there is a 2.9 month supply of homes over $1.5 Million (properties are taking longer to sell), but in the under $1.5 Million price range – there is a 0.9 month supply therefore an aggressive Seller’s Market.
Your Home ValueGreat Falls June 2021 Home Sales:
• 36 homes went under contract in Great Falls. This is down 12% from the same time period in 2020.
• 69% of the homes went to settlement in June 2021 sold in 10 days or less from when they hit the market.
• Average sold price was $1,625,417 (up 40% from the same time period in 2020 when it was $1,160,190).
• 48 homes came on the market. That is up 26% from June 2020.
• Homes that sold (closed) averaged 26 days on market, 12 days faster than in June of 2020.
• There is currently a 1.5 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 45 Great Falls homes for sale (townhouse, condo and single-family).
OVERALL: Great Falls continues to move to more of a Seller’s Market. The number of homes that went under contract was done compared to May, as well as year-over-year, but we saw increases in the average sold price and the number of homes that came on the market.
There is still a difference when we segment this market out by price…there is a 2.8 month supply of homes over $1.5 Million (properties are taking longer to sell), but in the under $1.5 Million price range – there is a 0.7 month supply therefore an aggressive Seller’s Market.
Great Falls May 2021 Home Sales:
• 46 homes went under contract in Great Falls. This is up 44% from the same time period in 2020.
• 58% of the homes went to settlement in May 2021 sold in 10 days or less from when they hit the market.
• Average sold price was $1,540,945 (up 31% from the same time period in 2020 when it was $1,177,198).
• 36 homes came on the market. That is down 5% from May 2020.
• Homes that sold (closed) averaged 49 days on market, 4 day faster than in May of 2020.
• There is currently a 1.3 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 39 Great Falls homes for sale (townhouse, condo and single-family).
OVERALL: Great Falls continues to move to more of a Seller’s Market. We didn’t see a significant change in the numbers from April to May in Great Falls, but activity (other than new homes on the market) and average sold price were up double digits compared to this time last year (again, expected due to the pandemic). Inventory decreased again this month decreasing months supply of homes on the market from 2.0 to 1.3.
There is still a significant difference when we segment this market out by price…there is a 3.2 month supply of homes over $1.5 Million (closer to more of a Buyer’s Market where properties are taking longer to sell), but in the under $1.5 Million price range – there is a 0.3 month supply therefore an aggressive Seller’s Market.
Great Falls April 2021 Home Sales:
• 31 homes went under contract in Great Falls. This is up 19% from the same time period in 2020.
• 79% of the homes went to settlement in April 2021 sold in 10 days or less from when they hit the market.
• Average sold price was $1,606,550 (up 30% from the same time period in 2020 when it was $1,234,217).
• 48 homes came on the market. That is up 45% from April 2020.
• Homes that sold (closed) averaged 9 days on market, 46 days faster than in April of 2020!
• 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 57 Great Falls homes for sale (townhouse, condo and single-family).
OVERALL: Great Falls is more of a Seller’s Market. The number of homes that came on the market and went under contract were up year-over-year (not surprising given the pandemic situation). The average sold price decreased slightly from March but is up significantly year-over-year. Most notable is the average days on market compared to March...9 days vs. 75 days!
There is still a significant difference when we segment this market out by price…there is a 3.6 month supply of homes over $1.5 Million (closer to more of a Buyer’s Market where properties are taking longer to sell), but in the under $1.5 Million price range – there is a 0.3 month supply therefore an aggressive Seller’s Market.
Great Falls March 2021 Home Sales:
• 30 homes went under contract in Great Falls. This is up 15% from the same time period in 2020.
• 46% of the homes went to settlement in March 2021 sold in 10 days or less from when they hit the market.
• Average sold price was $1,661,195 (up 35% from the same time period in 2020 when it was $1,228,844).
•32 homes came on the market. That is down 43% from March 2020.
• Homes that sold (closed) averaged 75 days on market, 16 days slower than in March of 2020.
• There is currently a 1.5 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 43 Great Falls homes for sale (townhouse, condo and single-family).
OVERALL: Great Falls moved to a Seller’s Market. The number of homes that came on the market and went under contract were up slightly from February (although new listings were down 43% year-over-year), however, overall inventory was down slightly. And the average sales price was down from February but continued to increase year-over-year...up 35%!
There is still a difference when we segment this market out by price…there is a 3.3 month supply of homes over $1.5 Million (closer to more of a Buyer’s Market where properties are taking longer to sell), but in the under $1.5 Million price range – there is a 0.5 month supply therefore an aggressive Seller’s Market.
Great Falls February 2021 Home Sales:
• 19 homes went under contract in Great Falls. This
is down 41% from the same time period in 2020.
• 33% of the homes went to settlement in February 2021 sold in
10 days or less from when they hit the market.
• Average sold price was $1,839,119 (up 52% from the same time period in 2020 when it was $1,209,722).
•24 homes came on the market. That is down 51% from February 2020.
• Homes that sold (closed) averaged 86 days on market, 9 days slower than in February of 2020.
• There is currently a 1.7 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 49 Great Falls homes for sale (townhouse, condo and single-family).
OVERALL: Great Falls continues to move to a Seller’s Market. Market activity in the area was down slightly from January and down significantly year-over-year. However, average sold prices were up significantly from last year and low inventory remains to be a big issue in the under $1.5 Million price range.
There is still a difference when we segment this market out by price…there is a 3.8 month supply of homes over $1.5 Million (closer to more of a Buyer’s Market where properties are taking longer to sell), but in the under $1.5 Million price range – there is a 0.3 month supply therefore an aggressive Seller’s Market.
Great Falls January 2021 Home Sales:
• 26 homes went under contract in Great Falls. This is up 30% from the same time period in 2020.
• 33% of
the homes went to settlement in January 2021 sold in 10 days or less from when
they hit the market.
• Average sold price was $1,461,692 (up 34% from the same time period in 2020 when it was $1,093,442).
•26 homes came on the market. That is down 16% from January 2020.
• Homes that sold (closed) averaged 40 days on market, 12 days faster than in January of 2020.
• There is currently a 1.6 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 47 Great Falls homes for sale (townhouse, condo and single-family).
OVERALL: Great Falls continues to move to a Balanced or even Seller’s Market. Market activity in this area was up slightly from December, and the number of homes going under contract was up significantly from this time last year (however new homes on the market was down from this time last year). Average sold prices were also up from this time last year. Low inventory remains to be an issue.
There is still a difference when we segment this market out by price…there is a 3.3 month supply of homes over $1.5 Million (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 0.4 month supply therefore an aggressive Seller’s Market.
