Great Falls December 2022 Home Sales:

• 11 homes went under contract in Great Falls. This is down 8% from the same time period in 2021. 

• 22% of the homes went to settlement in December 2022 sold in 10 days or less from when they hit the market.  

• Average sold price was $1,441,907 (down 9.7% from the same time period in 2021 when it was $1,596,755).

• 9 homes came on the market. That is down 40% from December 2021.

• Homes that sold (closed) averaged 44 days on market, 1 day faster than in December of 2021.

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

Additional Year-End Stats – 2022 vs 2021:

Average sold price increased by 15% ($1,836,654 vs $1,598,033)

Total units sold decreased by 30%

Average sales price to original list price ratio increased slightly – 101.5% vs 100.5%

OVERALL: Great Falls is a Seller’s Market.  Inventory decreased from the prior month but was up 13% year-over-year.  The number of homes going under contract was up just slightly but the number coming on the market decreased, and both of these numbers continue to be down from this time last year.  Average sold price was down from November and compared to the end of December last year.

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, but in the under $1.5 Million price range – there is a 0.3 month supply therefore an extremely aggressive Seller’s Market.

Great Falls November 2022 Home Sales:

• 9 homes went under contract in Great Falls. This is down 63% from the same time period in 2021. 

• 64% of the homes went to settlement in November 2022 sold in 10 days or less from when they hit the market.  

• Average sold price was $2,036,363 (up 22% from the same time period in 2021 when it was $1,670,661).d

• 14 homes came on the market. That is down 22% from November 2021.

• Homes that sold (closed) averaged 11 days on market, 6 days faster than in November of 2021.

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

OVERALL: Great Falls is a Seller’s Market.  Inventory decreased from the prior month but was up 3.2% year-over-year.  The number of homes going under contract and coming on the market decreased, and both of these numbers continue to be down significantly from this time last year.  Average sold price was up from October and compared to November 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, but in the under $1.5 Million price range – there is a 0.5 month supply therefore an extremely aggressive Seller’s Market.

Great Falls October 2022 Home Sales:

• 11 homes went under contract in Great Falls. This is down 54% from the same time period in 2021. 

• 82% of the homes went to settlement in October 2022 sold in 10 days or less from when they hit the market.  

• Average sold price was $1,702,677 (up 3% from the same time period in 2021 when it was $1,650,669).

• 22 homes came on the market. That is down 29% from October 2021.

• Homes that sold (closed) averaged 13 days on market, 24 days faster than in October of 2021.

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

OVERALL: Great Falls is a Seller’s Market.  Inventory increased just slightly from the prior month but was down 23% year-over-year.  The number of homes going under contract and coming on the market was virtually unchanged, and both of these numbers continue to be down significantly from this time last year.  Average sold price was up from September and compared to October last year.

There is still a difference when we segment this market out by price…there is a 2.6 month supply of homes over $1.5 Million, but in the under $1.5 Million price range – there is a 0.7 month supply therefore an extremely aggressive Seller’s Market.

Great Falls September 2022 Home Sales:

• 12 homes went under contract in Great Falls. This is down 64% from the same time period in 2021. 

• 35% of the homes went to settlement in September 2022 sold in 10 days or less from when they hit the market.  

• Average sold price was $1,477,285 (down 6.3% from the same time period in 2021 when it was $1,576,822).

• 21 homes came on the market. That is down 45% from September 2021.

• Homes that sold (closed) averaged 29 days on market, 11 days slower than in September of 2021.

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

OVERALL: Great Falls is a Seller’s Market.  Inventory increased slightly from the prior month but was down 22% year-over-year.  The number of homes going under contract decreased slightly but the number of new homes coming on the market increased…however both of these numbers continue to be down significantly from this time last year.  Average sold price was down from August as well as compared to September last year.

There is still a difference when we segment this market out by price…there is a 2.5 month supply of homes over $1.5 Million, but in the under $1.5 Million price range – there is a 0.6 month supply therefore an extremely aggressive Seller’s Market.

Additional Quarter-End Stats – 2022 vs 2021

Average sold price increased by 8.8% ($1,652,202 vs $1,518,519)

Total units sold decreased by 40%

Average sales price to original list price ratio decreased – 98.5% vs 98.9%

Great Falls August 2022 Home Sales:

• 17 homes went under contract in Great Falls. This is down 45% from the same time period in 2021. 

• 53% of the homes went to settlement in August 2022 sold in 10 days or less from when they hit the market.  

• Average sold price was $1,575,394 (up 1.1% from the same time period in 2021 when it was $1,557,689).

• 15 homes came on the market. That is down 40% from August 2021.

• Homes that sold (closed) averaged 19 days on market, 2 days faster than in August of 2021.

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

OVERALL: Great Falls is a Seller’s Market.  Inventory decreased slightly from the prior month and was down 27% year-over-year.  The number of homes coming on the market decreased as well…and this, along with the number of homes going under contract, continue to be down significantly from this time last year.  Average sold price was down from July but was up slightly from August of last year.

There is still a difference when we segment this market out by price…there is a 2.2 month supply of homes over $1.5 Million, but in the under $1.5 Million price range – there is a 0.4 month supply therefore an extremely aggressive Seller’s Market.

Great Falls July 2022 Home Sales:

• 14 homes went under contract in Great Falls. This is down 42% from the same time period in 2021. 

• 65% of the homes went to settlement in July 2022 sold in 10 days or less from when they hit the market.  

• Average sold price was $1,873,850 (up 28% from the same time period in 2021 when it was $1,461,802).

• 20 homes came on the market. That is down 52% from July 2021.

• Homes that sold (closed) averaged 13 days on market, 23 days faster than in July of 2021.

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

OVERALL: Great Falls is a Seller’s Market.  Inventory was unchanged from last month but was down 28% year-over-year.  The number of homes going under contract and new homes coming on the market decreased…and both of these numbers continue to be down from this time last year.  Average sold price was down from June but up compared to July last year.

There is still a difference when we segment this market out by price…there is a 1.6 month supply of homes over $1.5 Million, but in the under $1.5 Million price range – there is a 0.7 month supply therefore an extremely aggressive Seller’s Market.

Great Falls June 2022 Home Sales:

• 22 homes went under contract in Great Falls. This is down 39% from the same time period in 2021. 

• 65% of the homes went to settlement in June 2022 sold in 10 days or less from when they hit the market.  

• Average sold price was $2,125,597 (up 31% from the same time period in 2021 when it was $1,625,417).

• 32 homes came on the market. That is down 33% from June 2021.

• Homes that sold (closed) averaged 13 days on market, 13 days faster than in June of 2021.

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

OVERALL: Great Falls is a Seller’s Market.  Inventory increased just slightly from last month but was down 9% year-over-year.  The number of homes going under contract and the number of new homes coming on the market decreased from last month, and are down from this time last year.  Average sold price was up from May as well as compared to this month & quarter in 2021. 

There is still a difference when we segment this market out by price…there is a 2.5 month supply of homes over $1.5 Million, but in the under $1.5 Million price range – there is a 0.7 month supply therefore an extremely aggressive Seller’s Market.

Additional Quarter-End Stats – 2021 vs 2022:

Average sold price increased by 21% ($1,591,283 vs $1,917,751)

Total units sold decreased by 10%

Average sales price to original list price ratio increased – 102.6% vs 104.5%

Great Falls May 2022 Home Sales:

• 27 homes went under contract in Great Falls. This is down 41% from the same time period in 2021. 

• 81% of the homes went to settlement in May 2022 sold in 10 days or less from when they hit the market.  

• Average sold price was $1,866,702 (up 21% from the same time period in 2021 when it was $1,540,945).

• 44 homes came on the market. That is up 22% from May 2021.

• Homes that sold (closed) averaged 9 days on market, 40 days faster than in May of 2021.

• There is currently a 1.4 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 38 Great Falls homes for sale (townhouse, condo and single-family).

OVERALL: Great Falls is a Seller’s Market.  Inventory increased slightly from last month but was down 3% year-over-year.  The number of homes going under contract was down last month (and down significantly year-over-year) as was the number of new homes coming on the market (however up from the same time last year).  Average sold price was up from April, as well as from this same time last year. 

There is still a difference when we segment this market out by price…there is a 2.3 month supply of homes over $1.5 Million, but in the under $1.5 Million price range – there is a 0.3 month supply therefore an extremely aggressive Seller’s Market.

Great Falls April 2022 Home Sales:

• 34 homes went under contract in Great Falls. This is up 10% from the same time period in 2021. 

• 90% of the homes went to settlement in April 2022 sold in 10 days or less from when they hit the market.  

• Average sold price was $1,774,927 (up 10% from the same time period in 2021 when it was $1,606,550).

• 50 homes came on the market. That is up 4% from April 2021.

• Homes that sold (closed) averaged 5 days on market, 4 days faster than in April of 2021.

• There is currently a 1.0 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 35 Great Falls homes for sale (townhouse, condo and single-family).

OVERALL: Great Falls is a Seller’s Market.  Active listings increased slightly from the prior month but were down 39% year-over-year.  Average sold price was down 2% from March but up 10% from April 2021. 

There is still a difference when we segment this market out by price…there is a 2.7 month supply of homes over $1.5 Million, but in the under $1.5 Million price range – there is a 0.8 month supply therefore an extremely aggressive Seller’s Market.

Great Falls March 2022 Home Sales:

• 31 homes went under contract in Great Falls. This is up 3% from the same time period in 2021. 

• 69% of the homes went to settlement in March 2022 sold in 10 days or less from when they hit the market.  

• Average sold price was $1,816,437 (up 9% from the same time period in 2021 when it was $1,661,195).

• 43 homes came on the market. That is up 34% from March 2021.

• Homes that sold (closed) averaged 24 days on market, 51 days faster than in March of 2021.

• There is currently a 1.0 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 29 Great Falls homes for sale (townhouse, condo and single-family).

OVERALL: Great Falls is a Seller’s Market.  Inventory increased slightly from last month and sold prices continued to rise. 

There is still a difference when we segment this market out by price…there is a 1.7 month supply of homes over $1.5 Million, but in the under $1.5 Million price range – there is a 0.3 month supply therefore an extremely aggressive Seller’s Market.

Great Falls February 2022 Home Sales:

• 32 homes went under contract in Great Falls. This is up 68% from the same time period in 2021. 

• 38% of the homes went to settlement in February 2022 sold in 10 days or less from when they hit the market.  

• Average sold price was $2,245,625 (up 22% from the same time period in 2021 when it was $1,839,119).

• 35 homes came on the market. That is up 46% from February 2021.

• Homes that sold (closed) averaged 103 days on market, 17 days slower than in February of 2021.

• There is currently a 0.8 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 22 Great Falls homes for sale (townhouse, condo and single-family).

OVERALL: Great Falls is a Seller’s Market.  Not much change from the previous month.  Inventory remained low and average price is still up year-over-year.

There is still a difference when we segment this market out by price…there is a 2.0 month supply of homes over $1.5 Million, but in the under $1.5 Million price range – there is a 0.8 month supply therefore an extremely aggressive Seller’s Market.

Great Falls January 2022 Home Sales:

• 14 homes went under contract in Great Falls. This is down 46% from the same time period in 2021. 

• 50% of the homes went to settlement in January 2022 sold in 10 days or less from when they hit the market.  

• Average sold price was $1,736,404 (up 19% from the same time period in 2021 when it was $1,461,692).

• 21 homes came on the market. That is down 19% from January 2021.

• Homes that sold (closed) averaged 81 days on market, 41 days slower than in January of 2021.

• There is currently a 0.8 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 23 Great Falls homes for sale (townhouse, condo and single-family).

OVERALL: Great Falls is a Seller’s Market.  Lots more of the same from 2021…very LOW inventory in the area remained an issue and average home prices continued to rise.

There is still a difference when we segment this market out by price…there is a 2.5 month supply of homes over $1.5 Million, but in the under $1.5 Million price range – there is a 0.4 month supply therefore an extremely aggressive Seller’s Market.