Real Estate Trends: Market blooms in May

by Tina Daugherty

The flowers in bloom always make the heart grow warm and the sun has been divine!! June should be a telling month as the inventory has grown, as is typical seasonally. We were ahead of the MLS in growth, however. Finally, some inventory to choose from.

The days on market is still increasing with 220 days on the market in Sanders County for May. Percentage of list price is down just a bit, but still high at 95.7%. The months of supply for Sanders County has jumped up to 11.3, back to nearly a year on the market for many listings. In May for residential, only four homes sold, with 104 listed. Land was the star with 19 bare land sales. With inventory rising and the market slowing a bit, prices are beginning to recede. It looks like stability is here, for now.

It is that time of year to enjoy the outdoors, your gardens, friends and family, boating and playing?! Until next month. . .

MAY

Ranch: 3 active (same), $1,489,167 average listing price (down), 0 sales and pending.

Residential Homes: 104 active (up from 77), 4 sold (down), 5 pending (up from 2), $744,870 average listing price (down)

Land and Lots: 107 active (up from 104), 19 sold (up from 4, sold price average $167,053), 2 pending (down), $326,106 average listing price (up)

Commercial: 13 active (up), 2 sold (up), $689,069 average listing price (up)

Data from CoreLogix, Montana Regional MLS. Data does not include private sales.

Tina Daugherty is a Broker Associate with Realty Northwest in Thompson Falls and has been selling real estate for 30 years. Reach her at [email protected].