AUGUST 2023 MARKET
Ø LOCAL REAL ESTATE MARKET STATISTICS: New listings for the Madison Valley are still showing up on MLS, almost every day, along with several price reductions. There is usually a lull this time of year as families are focused on back-to-school matters. Then we expect to see more serious buyers, AFTER vacation fun is over. Big Sky Country Multiple Listing statistics for the Madison Valley area (including Ennis, Cameron, McAllister, Norris, Virginia City, Nevada City, Harrison, Pony), for the month of AUGUST were as follows:
· HOMES: 53↓ homes listed ($349,000 to $8,300,000); 14 pending sales ($485,000 to $2,500,000); and 31 homes have sold in 2023 ($305,000 to $3,700,000), totaling $25,796,334 at 95.8% of list prices.
· LAND: 137↑ vacant lots listed ($39,000 to $2,250,000); 15↓ pending sales ($7,497 to $569,000); and 53 lots have sold in 2023 ($10,000 to $600,000), totaling $13,483,597 at 94.2% of list prices.
· COMMERCIAL: 6↑ commercial properties listed ($365,000 to $2,950,000); 0 pending sales; and 4 commercial properties have sold in 2023 ($85,000 to $2,250,000), totaling $4,835,000, at 90.5%↑ of list prices.
· RANCHES: 6↑ ranches listed ($960,000 to $13,750,000); 1 pending sale ($6,999,999), and 0 ranches sold in 2023.
“The best investment on Earth is earth.” Louis J. Glickman, real estate mogul/philanthropist
Also, according to Jordan Davis & Luke Bryan, in their hit song, “Buy Dirt!”
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Gallatin Association of REALTORS Southwest Montana MLS |
Equal Housing Opportunity |
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