Is Great Falls, MT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Great Falls has remained a Seller's Market.
Key Takeaway
Great Falls is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Great Falls, MT
How much do homes in Great Falls, MT cost?
Median Sold Price
$319,916
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Great Falls have sold for 8.3% more than they did a year ago.
Summary: The median home sold price in Great Falls was $319,916 in April 2024, up 8.3% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $133K | $147.9K | +11.2% |
| 2 Bedrooms | $195K | $220K | +12.8% |
| 3 Bedrooms | $274.7K | $310K | +12.8% |
| 4 Bedrooms | $308K | $345K | +12.0% |
| 5+ Bedrooms | $412.5K | $410K | -0.6% |
Summary: Great Falls housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.2%, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 12%, and 5+ bedroom homes decreased by 0.6%.
Median Sold Price Compared To Nearby Cities
| Great Falls | $295.3K | $319.9K | +8.3% |
| Black Eagle | $225K | $215K | -4.4% |
| Great Falls North | $315K | $279K | -11.4% |
Housing Supply in Great Falls, MT
How many homes are available in Great Falls, MT?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 223 | 234 | +4.9% |
Summary: The Great Falls real estate market had 234 homes for sale in April 2024, a 4.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 46 | 43 | -6.5% |
| 3 Bedrooms | 67 | 76 | +13.4% |
| 4 Bedrooms | 67 | 71 | +6.0% |
| 5+ Bedrooms | 42 | 43 | +2.4% |
Summary: The Great Falls housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 6.5%, 3 bedroom homes increased by 13.4%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 2.4%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 58 | 67 | +15.5% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
27 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Great Falls, expect to pay close to the asking price. 40.3% of homes here sold near the asking price last month.
Summary: A total of 67 homes were sold or pending in Great Falls in April 2024, up by 15.5% month-over-month. Of the 67 sold homes, 39% were sold under asking, 40% were sold at asking, and 21% were sold over asking.
Days on Market for Great Falls, MT
How long does it take to sell a home in Great Falls, MT?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 38 Days | 60 Days | +57.5% |
Summary: Homes in Great Falls had an average of 60 days on market in Apr 2024, up by 57.5% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
30 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Great Falls has remained consistent over time.
Summary: During April 2024, 67 homes were sold in Great Falls; 31% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 24% 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 (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.
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.