Billings Real Estate Statistics

         Current Residential Market Trends YTD 06/30/2010   Billings Montana

Well, no surprise that the lower end (under $325k) slowed down in number of sales and added listings causing the months supply of inventory to increase.

After "buying into the future" for a year with the tax credit, we all expected a hiatus.

However, the lower (and lower) interest rates must have been a cause for the upper end to come alive in June.

30% of YTD closings (9 of 29) in the $325k to $400k range was in June!

And there was a whopping 9 closings in the $400k to $500k range, which is 50% of YTD sales !

Of course that significantly lowered the months supply of inventory in those price ranges.

Hold on to your hats, the $500k to 600k range ALSO had 50% of YTD closings in June bringing the YTD total to 6 closed and the supply of inventory down to 3.7 months ! A sellers market ????

AND Yes, even the $600k and up range had 2 closings of the 5 total for the year, which cut the months supply of inventory in half to a mere 17 months.

Quite the turn of events, huh ? Soft on the low end and definitely heating up on the high end.

30 year fixed interest rates are at 4.25% for both FHA and conventional loans and will not likely rise over the balance of the year.

The unemployment rate in Yellowstone County (Billings) has dropped to 5.2% while the State of Montana holds steady at 7%.

Meet with one of our professional associates to get a thorough current market analysis report in a specific price range, subdivision, location, and product type.
Pricing analysis based on statistical data, combined with superior marketing and professional experienced counseling can mean the TIMELY difference in time, money and legal liability in the sale of your property. http://www.cbthebrokers.com/associates.html

Dean Luptak, CRB, CRS is the president of Coldwell Banker The Brokers with offices in Billings and Red Lodge.