Taunya Fagan Bozeman Real Estate Blog: Bozeman Information and Listings: Bozeman Real Estate Market Update Week 3 May 2013 Taunya Fagan

Bozeman Real Estate Market Update Week 3 May 2013 Taunya Fagan

Bozeman Montana real estate demand measured by the Market Action Index is increasing and days on-market is trending down. Even as more Bozeman properties come available, these are positive trends for the Bozeman homes market.

The Bozeman homes market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes.

Bozeman Homes Market Report Week 3 2013This week's Bozeman homes prices remained relatively flat. However the recent trends have us pulling back from the market's high points. The Market Action Index is a good leading indicator for the durability of this Bozeman real estate trend.

Bozeman home prices have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move from these current levels.

The Bozeman market's downward trends are shared across both price and value. People interested in Bozeman, Montana are recently placing less value on homes. Look for significant changes in the Market Action Index as a precursor to price and value changes, possibly as inflection points for good investment opportunities.

Bozeman real estate inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

The Bozeman homes market is currently strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 14.29. With several months of inventory available at the current sales rate, buyers should find ample choice.

Not surprisingly given the overall Market Action Index, all quartiles are in the Buyer's Market zone with several months of inventory given the current rate of demand for Bozeman homes in the quartile. Watch the quartile for changes before the overall market shifts. Often one end of the Bozeman market (e.g. the low end) will improve and signal a strengthening market before the whole group changes.

The median list price for BOZEMAN, MT real estate homes Week 3, May 2013 is $514,900.

303 properties have been on the market for an average of 223 days.

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Comment balloon 0 commentsTaunya Fagan • May 17 2013 09:41AM


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