When you look at single family permits you can see the effect of the new building code that went into place November 1st. last month they we up and you can see the decline this month. We should end the year with a tie for 2009 in building permits. So 2011 should most probably exceed 2009-2010. There is a cave eat installation of fire suppression sprinklers may go into effect January 1st 2011 and if that happens the cost of new homes with jump without any added space or new amenities , which most probably will depress demand until existing prices start to rise.
| Market update at glance | Year | Percentage Increase | |||||
| Yellowstone County 6/30/2101 | 11/30/2010 | 2009 | 2010 | or -Decrease | |||
| Residential Closed Sales Units | 1835 | 1569 | -14% | ||||
| Residential Pending Sales Units | 212 | 200 | -6% | ||||
| Residential Active Property For Sale | 803 | 908 | 13% | ||||
| Average sales price Single family Home | $199,876 | $211,635 | 6% | ||||
| Average Square feet Single family Home | 2253 | 2353 | 4% | ||||
| Median sales price Single family Home | $180,000 | $187,900 | 4% | ||||
| Median Square feet Single family Home | 2142 | 2217 | 4% | ||||
| Average Days on Market Till Offer Received | |||||||
| Single Family Home | 63 | 65 | 3% | ||||
| Absorption rate - | TIME IN DAYS | ||||||
| Time it would take for all existing | 231 | ||||||
| properties to sell with no new inventory | |||||||
| coming into the market place - residential | |||||||
| SINGLE FAMILY PERMITS MONTH | 29 | 16 | -45% | ||||
| SINGLE FAMILY PERMITS YEAR | 228 | 231 | 1% | ||||
| Average # Rentals Advertised Sundays | 400 | 341 | -15% | ||||
| Average Asking Price Rental Home | $1,024 | $1,041 | 2% | ||||
| Average Asking Price Rental Apartment | $670 | $644 | -4% |
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