Is Gallatin County, MT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Gallatin County was a Seller's Market.
Key Takeaway
Gallatin County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Gallatin County, MT
How much do homes in Gallatin County, MT cost?
Median Sold Price
$713,223
$361/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Gallatin County have sold for 3.8% more than they did a year ago.
Summary: The median home sold price in Gallatin County was $713,223 in March 2024, up 3.8% from last year, and the median price per square foot was $361.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $480K | $432.5K | -9.9% |
| 2 Bedrooms | $483K | $502.5K | +4.0% |
| 3 Bedrooms | $611.8K | $625K | +2.2% |
| 4 Bedrooms | $868.5K | $912.6K | +5.1% |
| 5+ Bedrooms | $965K | $1.1M | +17.2% |
Summary: Gallatin County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.9%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes increased by 17.2%.
Median Sold Price Compared To Nearby Counties
| Gallatin County | $687K | $713.2K | +3.8% |
| Park County | $526K | $509K | -3.2% |
| Broadwater County | $399K | $378K | -5.3% |
| Jefferson County | $534.5K | $500K | -6.5% |
| Madison County | $650K | $517K | -20.5% |
Housing Supply in Gallatin County, MT
How many homes are available in Gallatin County, MT?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 612 | 683 | +11.6% |
Summary: The Gallatin County real estate market had 683 homes for sale in March 2024, a 11.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 24 | 29 | +20.8% |
| 2 Bedrooms | 77 | 88 | +14.3% |
| 3 Bedrooms | 254 | 285 | +12.2% |
| 4 Bedrooms | 187 | 194 | +3.7% |
| 5+ Bedrooms | 70 | 87 | +24.3% |
Summary: The Gallatin County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20.8%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 24.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 89 | 107 | +20.2% |
Asking Price vs. Sold Price
63 Homes Were Sold
Under Asking
29 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gallatin County, you may be able to get a good deal. 58.9% of homes here sold below asking price last month.
Summary: A total of 107 homes were sold or pending in Gallatin County in March 2024, up by 20.2% month-over-month. Of the 107 sold homes, 59% were sold under asking, 27% were sold at asking, and 14% were sold over asking.
Days on Market for Gallatin County, MT
How long does it take to sell a home in Gallatin County, MT?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 55 Days | 55 Days | +0.5% |
Summary: Homes in Gallatin County had an average of 55 days on market in Mar 2024, up by 0.5% compared to last year.
Breakdown of Home Sale Times
54 Homes Were Sold
Under 30 Days
28 Homes Were Sold
In 30 - 90 Days
25 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Gallatin County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 107 homes were sold in Gallatin County; 50% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange of the Gallatin Association of Realtors/Big Sky Country MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright© 2024 Gallatin Association of Realtors/Big Sky Country MLS. All Rights Reserved.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (IDX) program of the Montana Regional Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright© 2024 Montana Regional Multiple Listing Service, Inc. All Rights Reserved.