This month, we will compare the first two months of single family home sales in 2015 to the first two months in 2016. Here are some statistics:
- Total home sales decreased by 15.98% in January and February this year. (253 sold in Quarter 1 of 2015, 169 through February 2015. 142 sold through February 2016.)
- Total dollar volume decreased by 6.90% in January and February this year. ($104,984,245 in Quarter 1 of 2015, $69,989,501 through February 2015. $65,158,535 through February 2016.)
- Homes have spent 13.91% less time on the market this year. (115 days on the market in Quarter 1 of 2015, 99 days on the market in 2016.)
HOWEVER, its important to note that as of 2/29/16, 286 single family homes were under contract in 2016, representing $135,862,319 in dollar volume. (To put this in perspective, Quarter 1 last year had $104,984,245 in dollar volume for all 3 months). Those figures do not contribute to 2016 totals until those homes have closed.
Summary – It was a sleepy start to the Gallatin Valley real estate market in 2016. January and February saw home sales and dollar volume decrease compared to 2015. However, a huge number of pending home sales have still yet to be added in, suggesting that March numbers will be extremely high. Although the above numbers would not suggest it, Quarter 1 of 2016 is on track to outpace the first quarter of 2015.
Comments (0)Subscribe to CommentsComment