Real Estate Trends

Neighborly November! Neighborly love is a beautiful thing. It makes approaching your home more lovely, with fond memories of the people with who you come into contact regularly. You have a bit of comfort in that should you find yourself in a pickle, you can knock on the door, be greeted with a smile and a hand, and being ready to be that person to the neighbors is a great feeling. It is good form for all, to be good neighbors. With so much change in the valley there are bound to be some growing pains but in the end, we are all so blessed to be here. November shone boldly the beauty of our home land, the trees tinged with gold, red and autumn colors.

Now, on to business. There has been a bit of an uptick in activity in November and Sanders County on the whole is showing a quite balanced market with good numbers. Seasonality is squarely seated with fewer new listings on the market. With the inventory still quite low, the prices continue to rise. Montana is now in the top 10 of the least affordable states to buy a house according to HomeBuyer.com article dated October 2, 2024. The interest rates have been a bit more favorable and activity as a whole has been pretty good. Let us have a look at the numbers.

Sanders bumped up to slightly more in seller's market territory, all stats considered. Properties that are priced well are still going rather quickly, but overall days on market for residential grew to 187 days average for sold properties. Twenty seven percent of listings decreased their price which is lower than last month, again seasonally typical. Sanders County's average home sale is $419,500, which amazes me as I remember 30 years ago a home on the hill in Thompson Falls being $40,000.

In November for residential, 11 homes sold, with 78 (down from 96) listed and 17 under contract. Land was less positive again. The market is winding down right now, with less listings trickling on the market. The interest rates have had a little relief, but not enough yet to make a change in the market.

It is time to get out the snow shovel, boots, gloves and toque. The winter, for all of you brave of heart, is an opportunity for very little competition if you don't mind a winter move and all of the adventures that brings. The purchasers arriving in winter for a look are usually quite serious!

May the winter, a time of rest with slower markets, be a time to recharge and get outside and enjoy the Montana snowy mountain peaks and the ski slopes. May your firewood pile be heaped, your chimney be clean and your snowshoes standing or hanging at the ready for adventures with the crisp, cool air bringing that rosy hue to your cheeks and waking you up to all we have to be thankful for. Have a cup of tea and let the quiet of winter settle in.

NOVEMBER

Ranch

2 active (down), $2,174,000 average listing price (up), 0 sales and pending.

Residential Homes

78 active (down), 11 sold (down), 17 under contract (down), 2 pending (down), $479,982 average sold price (down), $813,822 average listing price (up)

Land and Lots

134 active (up), 4 sold (down), sold price average $153,500 (down), 9 under contract (down), 0 pending (down), $340,334 average listing price (up)

Commercial

14 active (same), 0 under contract (down), 0 sold (down), $1,785,357 average listing price (up)

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