August 2018 Homes Sales Data 📈
We had a surprising number of new listings come on the market in August. Up from both 2016 and 2017. National news is frequently referencing a big real estate slow down, but I believe Bozeman usually lags the national market from a trend perspective and this month's statistics reflect that. Our Days on Market is still ridiculously low at 15 and Months Supply of Inventory (how long it would take to sell current inventory at our current sales pace if nothing new came on the market) is 3.5. Economists consider <6 months supply of inventory a seller's market. So, in essence, we are not yet seeing any big slow down here. Read, watch, listen, whatever medium works for you and as always, if you have any questions for me, please don't hesitate to reach out.