Is Libby, MT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Libby was a Seller's Market.
Key Takeaway
Libby is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Libby, MT
How much do homes in Libby, MT cost?
Median Sold Price
$320,000
$217/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Libby have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in Libby was $320,000 in May 2024, up 2.4% from last year, and the median price per square foot was $217.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | $100K | -44.4% |
| 2 Bedrooms | $255K | $270K | +5.9% |
| 3 Bedrooms | $333.5K | $377K | +13.0% |
| 4 Bedrooms | $373.5K | $335K | -10.3% |
| 5+ Bedrooms | $370K | $236.1K | -36.2% |
Summary: Libby housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 44.4%, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 13%, 4 bedroom homes decreased by 10.3%, and 5+ bedroom homes decreased by 36.2%.
Housing Supply in Libby, MT
How many homes are available in Libby, MT?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 62 | 81 | +30.6% |
Summary: The Libby real estate market had 81 homes for sale in May 2024, a 30.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 6 | +20.0% |
| 2 Bedrooms | 13 | 21 | +61.5% |
| 3 Bedrooms | 27 | 33 | +22.2% |
| 4 Bedrooms | 10 | 13 | +30.0% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Libby housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 61.5%, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 30%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 10 | +150.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Libby, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Libby in May 2024, up by 150.0% month-over-month. Of the 10 sold homes, 80% were sold under asking, 10% were sold at asking, and 10% were sold over asking.
Days on Market for Libby, MT
How long does it take to sell a home in Libby, MT?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 117 Days | 150 Days | +28.2% |
Summary: Homes in Libby had an average of 150 days on market in May 2024, up by 28.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Libby are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 10 homes were sold in Libby; 20% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 50% 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.