Real Estate Home Prices Billings MT
Montana ranks 11th overall in home sales prices, yet 47th in the nation for family income. Where does that leave you for the 2018 Spring Real Estate Market? The average sale price has been steady at approx. $245,000, then why so many homes not selling in the $200,000 to $300,000 home price? I am selling as many $175,000 homes as I am the $300,000 and above. Billings finished out December 2017 actually down from 2016 by $2,000 in average sale price. While not a significant drop, it is noteworthy. The stats for April will be out later this month, but currently I can report there are 248 properties between $200,000 and $300,000 and 561 for the entire MLS of $100,000 to $600,000. This means if you are a seller in the mid-range you need to be competitive in your list price. It also means if you are a first-time home buyer finding a home at $175,000 may put you in a competing offer situation. So while we have a buyers market in our mid-range $200,000 it is a seller’s market in the $175 range.