Great Falls December 2023 Home Sales:

• 12 homes went under contract in Great Falls. This is up 9% from the same time period in 2022. 

• 42% of the homes went to settlement in December 2023 sold in 10 days or less from when they hit the market.  

• Average sold price was $2,265,433 (up 57% from the same time period in 2022 when it was $1,442,907).

• 8 homes came on the market. That is down 11% from December 2022.

• Homes that sold (closed) averaged 36 days on market, 8 days faster than December 2022.

• There is currently a 1.4 months 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).

Additional Year-End Stats – 2023 vs 2022:

Average sold price decreased by 0.9% ($1,820,506 vs $1,836,654)

Total units sold decreased by 21%

Average sales price to original list price ratio decreased – 99.5% vs 101.5%

OVERALL: Great Falls is a Seller’s Market.  Inventory was down from the prior month as well as down 12% year-over-year.   The number of homes going under contract increased just slightly while the number coming on the market decreased from last month.  Average sold price was down from November but up compared to the same time last year.

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 0.3 month supply therefore a more aggressive Seller’s Market.

Great Falls November 2023 Home Sales:

• 10 homes went under contract in Great Falls. This is up 11% from the same time period in 2022. 

• 50% of the homes went to settlement in November 2023 sold in 10 days or less from when they hit the market.  

• Average sold price was $2,721,250 (up 34% from the same time period in 2022 when it was $2,036,363).

• 13 homes came on the market. That is down 7% from November 2022.

• Homes that sold (closed) averaged 66 days on market, 38 days slower than November 2022.

• There is currently a 2.6 months 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 was down slightly from the prior month but up 22% year-over-year.   The number of homes going under contract and the number coming on the market increased from last month.  Average sold price was up from October as well as compared to the same time last year.

There is still a difference when we segment this market out by price…there is a 3.1 month supply of homes over $1.5 Million (more of a balanced market), but in the under $1.5 Million price range – there is a 0.5 month supply therefore a Seller’s Market.

Great Falls October 2023 Home Sales:

• 8 homes went under contract in Great Falls. This is down 27% from the same time period in 2022. 

• 80% of the homes went to settlement in October 2023 sold in 10 days or less from when they hit the market.  

• Average sold price was $1,552,499 (down 9% from the same time period in 2022 when it was $1,702,677).

• 11 homes came on the market. That is down 50% from October 2022.

• Homes that sold (closed) averaged 10 days on market, 3 days faster than October 2022.

• There is currently a 2.9 months 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 44 Great Falls homes for sale (townhouse, condo and single-family).

OVERALL: Great Falls is a Seller’s Market.  Inventory was basically unchanged from the prior month and up 7% year-over-year.   The number of homes going under contract and the number coming on the market decreased.  Average sold price was down from September as well as compared to the same time last year.

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 balanced market), but in the under $1.5 Million price range – there is a 1.2 month supply therefore a Seller’s Market.

Great Falls September/Q3 2023 Home Sales:

• 14 homes went under contract in Great Falls. This is up 17% from the same time period in 2022. 

• 33% of the homes went to settlement in September 2023 sold in 10 days or less from when they hit the market.  

• Average sold price was $1,639,827 (up 11% from the same time period in 2022 when it was $1,477,285).

• 17 homes came on the market. That is down 19% from September 2022.

• Homes that sold (closed) averaged 25 days on market, 4 days faster than September 2022.

• There is currently a 2.7 months 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).

Additional 3rd Quarter-End Stats – 2023 vs 2022:

Average sold price increased by 4% ($1,721,214 vs $1,652,202)

Total units sold increased by 7%

Average sales price to original list price ratio decreased – 98.1% vs 98.5%

OVERALL: Great Falls is a Seller’s Market.  Inventory was up slightly from the prior month and up 10% year-over-year.   The number of homes going under contract basically stayed the same and the number coming on the market increased.  Average sold price was very similar to August and was up compared to the same time 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 (more of a balanced market), but in the under $1.5 Million price range – there is a 0.8 month supply therefore a more aggressive Seller’s Market.

Great Falls August 2023 Home Sales:

• 15 homes went under contract in Great Falls. This is down 12% from the same time period in 2022. 

• 63% of the homes went to settlement in August 2023 sold in 10 days or less from when they hit the market.  

• Average sold price was $1,684,392 (up 7% from the same time period in 2022 when it was $1,575,394).

• 12 homes came on the market. That is down 20% from August 2022.

• Homes that sold (closed) averaged 29 days on market, 10 days slower than August 2022.

• There is currently a 2.4 months 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 was down just slightly from the prior month but up 8% year-over-year.   The number of homes going under contract stayed the same and the number coming on the market decreased. Both of these numbers were down from this time last year.  Average sold price was down from July but was up compared to the same time last year.

There is still a difference when we segment this market out by price…there is a 3.0 month supply of homes over $1.5 Million (more of a balanced market), but in the under $1.5 Million price range – there is a 1.1 month supply therefore a more aggressive Seller’s Market.

Great Falls July 2023 Home Sales:

• 15 homes went under contract in Great Falls. This is up 7% from the same time period in 2022. 

• 64% of the homes went to settlement in July 2023 sold in 10 days or less from when they hit the market.  

• Average sold price was $1,815,359 (down 3% from the same time period in 2022 when it was $1,873,850).

• 25 homes came on the market. That is up 25% from July 2022.

• Homes that sold (closed) averaged 13 days on market, unchanged from July 2022.

• There is currently a 2.6 months 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 down just slightly from the prior month and unchanged year-over-year.   The number of homes going under contract decreased and the number coming on the market was unchanged.  The number of new listings coming on the market and homes going under contract were up from this time last year.  Average sold price was down from June as well as compared to the same time last year.

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 (more of a balanced market), but in the under $1.5 Million price range – there is a 0.9 month supply therefore a more aggressive Seller’s Market.

Great Falls June/Q2 2023 Home Sales:

• 27 homes went under contract in Great Falls. This is up 23% from the same time period in 2022. 

• 64% of the homes went to settlement in June 2023 sold in 10 days or less from when they hit the market.  

• Average sold price was $1,854,263 (down 13% from the same time period in 2022 when it was $2,125,597).

• 25 homes came on the market. That is down 22% from June 2022.

• Homes that sold (closed) averaged 16 days on market, 3 days slower than in June 2022.

• There is currently a 2.9 months 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).

Additional 2nd Quarter-End Stats – 2023 vs 2022:

Average sold price decreased by 11% ($1,699,211 vs $1,917,751)

Total units sold decreased by 30%

Average sales price to original list price ratio decreased – 101.0% vs 104.5%

OVERALL: Great Falls is a Seller’s Market.  Inventory was down from the prior month but up 5% year-over-year.   The number of homes going under contract was unchanged and the number coming on the market decreased a bit.  The number of new listings coming on the market remains down significantly from this time last year.  Average sold price was up from May as well as compared to the same time last year.

There is still a difference when we segment this market out by price…there is a 3.4 month supply of homes over $1.5 Million (more of a balanced market), but in the under $1.5 Million price range – there is a 0.8 month supply therefore a more aggressive Seller’s Market.

Great Falls May 2023 Home Sales:

• 27 homes went under contract in Great Falls. This is unchanged from the same time period in 2022. 

• 67% of the homes went to settlement in May 2023 sold in 10 days or less from when they hit the market.  

• Average sold price was $1,556,047 (down 17% from the same time period in 2022 when it was $1,866,702).

• 28 homes came on the market. That is down 36% from May 2022.

• Homes that sold (closed) averaged 24 days on market,  15 days slower than in  May 2022.

• There is currently a 3.0 months 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 48 Great Falls homes for sale (townhouse, condo and single-family).

OVERALL: Great Falls is a Seller’s Market.  Inventory was up slightly from the prior month and up 26% year-over-year.   The number of homes going under contract and coming on the market increased a bit.  The number of new listings coming on the market remains down significantly from this time last year.  Average sold price was down from April as well as compared to the same time last year.

There is still a difference when we segment this market out by price…there is a 4.3 month supply of homes over $1.5 Million (more of a balanced market), but in the under $1.5 Million price range – there is a 1.4 month supply therefore a more aggressive Seller’s Market.

Great Falls April 2023 Home Sales:

• 19 homes went under contract in Great Falls. This is down 44% from the same time period in 2022. 

• 62% of the homes went to settlement in April 2023 sold in 10 days or less from when they hit the market.  

• Average sold price was $1,675,141 (down 5.6% from the same time period in 2022 when it was $1,774,927).

• 26 homes came on the market. That is down 48% from April 2022.

• Homes that sold (closed) averaged 17 days on market,  12 days slower than in  April 2022.

• There is currently a 2.5 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 is a Seller’s Market.  Inventory was up ever so slightly from the prior month and up 23% year-over-year.   The number of homes going under contract decreased but the number coming on the market increased a bit.  Both of these numbers continue to be down significantly from this time last year.  Average sold price was up from March but down compared to the same time last year.

There is still a difference when we segment this market out by price…there is a 5.8 month supply of homes over $1.5 Million (more of a balanced market), but in the under $1.5 Million price range – there is a 0.3 month supply therefore a more aggressive Seller’s Market.

Great Falls March/Q1 2023 Home Sales:

• 23 homes went under contract in Great Falls. This is down 26% from the same time period in 2022. 

• 100% of the homes went to settlement in March 2023 sold in 10 days or less from when they hit the market.  

• Average sold price was $1,398,863 (down 23% from the same time period in 2022 when it was $1,816,437).

• 23 homes came on the market. That is down 46% from March 2022.

• Homes that sold (closed) averaged 4 days on market, 20 days faster than in March 2022.

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

Additional 1st Quarter-End Stats – 2022 vs 2023:

Average sold price decreased by 5% ($1,857,017 vs $1,765,527)

Total units sold decreased by 44%

Average sales price to original list price ratio decreased – 101.0% vs 100.8%

OVERALL: Great Falls is a Seller’s Market.  Inventory was basically unchanged from the prior month and was up 41% year-over-year.   The number of homes going under contract increased and the number coming on the market was unchanged, but both of these numbers continue to be down significantly from this time last year.  Average sold price was down from February as well as compared to the end of the first quarter last year.

There is still a difference when we segment this market out by price…there is a 5.2 month supply of homes over $1.5 Million (more of a balanced market), but in the under $1.5 Million price range – there is a 1.1 month supply therefore a more aggressive Seller’s Market.

Great Falls February 2023 Home Sales:

• 13 homes went under contract in Great Falls. This is down 59% from the same time period in 2022. 

• 50% of the homes went to settlement in February 2023 sold in 10 days or less from when they hit the market.  

• Average sold price was $2,198,125 (down 2.1% from the same time period in 2022 when it was $2,245,625).

• 23 homes came on the market. That is down 34% from February 2022.

• Homes that sold (closed) averaged 63 days on market, 40 days faster than in February 2022.

• There is currently a 2.1 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 42 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 and was up 90% year-over-year.  The number of homes going under contract and coming on the market increased a bit but both are down significantly from this time last year.  Average sold price was up from January but down compared to the end of February last year.

There is still a difference when we segment this market out by price…there is a 4.8 month supply of homes over $1.5 Million (moving toward a balanced market), but in the under $1.5 Million price range – there is a 1.3 month supply therefore an extremely aggressive Seller’s Market.

Great Falls January 2023 Home Sales:

• 8 homes went under contract in Great Falls. This is down 43% from the same time period in 2022. 

• 45% of the homes went to settlement in January 2023 sold in 10 days or less from when they hit the market.  

• Average sold price was $1,589,174 (down 8.5% from the same time period in 2022 when it was $1,736,404).

• 21 homes came on the market. That is the same as in January 2022.

• Homes that sold (closed) averaged 21 days on market, 60 days faster than in January 2022.

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

OVERALL: Great Falls is a Seller’s Market.  Inventory increased from the prior month and was up 57% year-over-year.  The number of homes going under contract was down just slightly but the number coming on the market increased…the number of homes going under contract continues to be down significantly from this time last year.  Average sold price was up from December but down compared to the end of January last year.

There is still a difference when we segment this market out by price…there is a 5.3 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.