27% of the homes for sale on the Billings South Side are under contract, and that's a pretty good number!
The Active listings without an accepted contract average listing price is $127,000
The Pending listings which have an accepted contract, have an average listed price of $172,000!!!
The Contingent listings which have an accepted contract, have an average listed price of $122,000
About 9.3 homes have been closing per month over the last 90 days in Area 4, South Billings Montana. At that rate, it would take 6.6 months to sell the available inventory. A balanced market is somewhere between 5 and 7 months of inventory.
Keep in mind that only about 50% of the homes that are actively listed will sell. Inventory is added to the market, and inventory expires from the market each and every month.
The most interesting thing to me is the average price of the pending listing, of which there are 4, is much higher than the other listings that are still for sale! This is always a look at averages and raw data, no 2 homes are the same, but I find this very interesting!
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