I'm so glad the snow is melting! Maybe rural property sales will start picking up as well.
I've taken a look at the entire market area around Billings Montana at properties over 10 acres, just to get a feel for what's happening out there. Over the last year, we've sold 82 of these properties, which if you divide that by 12 months, you get a monthly moving average of about 6.8 residential rural properties over 10 acres sold per month.
Our winter months have been pretty slow however, so get ready for the spring thaw! Right now we have about 10 properties under contract out of 163 active listings. That's a pretty poor showing for activity, only about 6%. We need to be closer to 15%- 20% under contract to get this spring going.
I always think that winter is a less active time, especially for rural properties. It's hard to visualize what's happening under snow, and vision is key to a home sale.
I'll be out and about checking out rural properties over the next couple of months, I'm always on the look out for good properties to sell. For specific home price data, see below graph.
The above data reviews the last 12 months from today March 21, 2011. Of the 82 rural homes that sold the average prices are as follows:
Average List Price: $294,546
Average Sold Price: $279,310
The average number of days the sold homes were listed before they sold: 126
The average size of the sold homes: 2,363 square feet
The Quilting Realtor
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Many Dream Of Living In Montana I'm One of the Lucky One's That Already Do! Wanda Thomas Call or Text 406-698-8640 for help with all things Montana. |
