I have some clients who are interested in the Billings Heights Real Estate Market Activity, so while doing my search I thought it would be some helpful information to share.
The market areas I searched in Billings Montana for this report include area 1, West of Main Street and area 2, East of Main Street.
- 196 unsold homes on the market
- 22 of these homes have accepted contracts that are pending to close
- 25 of these homes have accepted contracts that are contingent on the successful outcome of contract details such as home inspections and other investigations
The Activity Index for today in the Billings Heights is about 23%. Which is a pretty healthy number. Of the homes that are currently under contract, the average number of days these homes were listed before they secured an accepted buy/sell was 93 days. That's a longer time period than we usually have, which is more like 65 to 75 days.
Keep in mind that only about 43% of all homes that are listed successfully close (which means ownership is transferred). Heading into winter, we often see a bit of hesitation in the number of sales, depending on our weather.
Our prices for this group of unsold homes looks like this for average:
- $193,758 the average price of all unsold listings
- $186,532 the average price of these homes that are pending
- $171,112 the average price of these homes that are contingent
The selection of homes at this time of the year and in this market is diminished. This is evidenced by the Activity Index being greater than 20% (favors sellers due to decrease in unsold inventory).
Those homes that have closed in the same Billings Heights areas 1 and 2 over the past 90 days showed the following:
- $181,609 was the average sold price
- 97% was the average list price/sold price
- 89 was the average number of days on the market before a successful offer was agreed to
- 2.22 was the average number of bathrooms
- 4 was the average number of bedrooms
- 2,232 was the average square feet of the properties sold
On a more personal note, this dang wind is driving me crazy, I can't get warm! For a couple of days now I've tried not to go outside, and the sun is shining! My plastic trash cans were flying around the neighborhood, along with those of my neighbors, thank goodness they were emptied this morning.
PS We could use some snow.