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Billings Montana real estate market stats

By
Industry Observer with Howard Sumner Consulting
Market update at glance 3/21/2009 Year Percentage Increase or -Decrease Yellowstone County 2008 2009 Residential Closed Sales Units 369 222 -40% Residential Pending Sales Units 255 222 -13% Residential Active Property Units For Sale 681 813 19% Average sales price Single family Home $200,124 $195,889 -2% Average Square feet Single family Home 2272 2286 1% Median sales price Single family Home $180,000 $175,500 -3% Median Square feet Single family Home 2120 2160 2% Average Days on Market Till Offer Received Single Family Home 68 77 13% Absorption rate - TIME IN DAYS Time it would take for all existing 240 properties to sell with no new inventory coming into the market place - residential SINGLE FAMILY PERMIT ISSUED FOR MONTH thru 3/13 30 14 -53% SINGLE FAMILY PERMIT ISSUED FOR YEAR thru 3/13 71 31 -56% Average Number of Rentals Advertised Sundays 108 136 26% Average Asking Price for a Rental Home $1,114 $1,096 -2% Average Asking Price for a Rental Apartment $678 $689 2%

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