below are the market numbers through may 31st 2009. i have already posted my commentary about the market performance. i believe it will interesting to watch both the local and national markets for how the perform the rest of the summer. i already know that just the raw numbers will show improvement because June in Billings was when the home sales started to go negative. my next months post will look at the event carefully.
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Market update at glance |
5/31/2009 |
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Year |
Percentage Increase or -Decrease |
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Yellowstone County |
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2008 |
2009 |
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Residential Closed Sales Units |
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808 |
605 |
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-25% |
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Residential Pending Sales Units |
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282 |
306 |
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9% |
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Residential Active Property Units For Sale |
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827 |
821 |
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-1% |
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Average sales price Single family Home |
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$204,140 |
$197,345 |
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-3% |
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Average Square feet Single family Home |
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2278 |
2274 |
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0% |
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Median sales price Single family Home |
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$181,000 |
$179,900 |
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-1% |
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Median Square feet Single family Home |
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2158 |
2179 |
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1% |
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Average Days on Market Till Offer Received |
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Single Family Home |
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64 |
72 |
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13% |
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Absorption rate - |
TIME IN DAYS |
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Time it would take for all existing |
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245 |
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properties to sell with no new inventory coming |
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into the market place - residential |
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SINGLE FAMILY PERMIT ISSUED FOR MONTH |
29 |
29 |
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0% |
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SINGLE FAMILY PERMIT ISSUED FOR YEAR |
128 |
76 |
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-41% |
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Average Number of Rentals Advertised Sundays |
108 |
128 |
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19% |
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Average Asking Price for a Rental Home |
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$1,114 |
$1,081 |
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-3% |
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Average Asking Price for a Rental Apartment |
$678 |
$691 |
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2% |
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