Is Gallatin County, MT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Gallatin County has remained a Seller's Market.
Housing Prices in Gallatin County, MT
How much do homes in Gallatin County, MT cost?
Median Sold Price
$723,722
$364/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Gallatin County was $723,722 in May 2024, up 8.5% from last year, and the median price per square foot was $364.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $438.2K | $436K | -0.5% |
2 Bedrooms | $480K | $511.2K | +6.5% |
3 Bedrooms | $590.3K | $628K | +6.4% |
4 Bedrooms | $867.3K | $936.1K | +7.9% |
5+ Bedrooms | $995K | $1.1M | +15.6% |
Summary: Gallatin County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.5%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 15.6%.
Median Sold Price Compared To Nearby Counties
Gallatin County | $667.2K | $723.7K | +8.5% |
Park County | $513K | $519.2K | +1.2% |
Broadwater County | $388.2K | $379.4K | -2.3% |
Jefferson County | $520.9K | $501.6K | -3.7% |
Madison County | $622.5K | $530K | -14.9% |
Housing Supply in Gallatin County, MT
How many homes are available in Gallatin County, MT?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
803 | 905 | +12.7% |
Summary: The Gallatin County real estate market had 905 homes for sale in May 2024, a 12.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 38 | 43 | +13.2% |
2 Bedrooms | 116 | 125 | +7.8% |
3 Bedrooms | 309 | 359 | +16.2% |
4 Bedrooms | 229 | 244 | +6.6% |
5+ Bedrooms | 111 | 134 | +20.7% |
Summary: The Gallatin County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13.2%, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 16.2%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 20.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
128 | 158 | +23.4% |
Asking Price vs. Sold Price
82 Homes Were Sold
Under Asking
45 Homes Were Sold
At Asking
31 Homes Were Sold
Over Asking
Summary: A total of 158 homes were sold or pending in Gallatin County in May 2024, up by 23.4% month-over-month. Of the 158 sold homes, 52% were sold under asking, 28% were sold at asking, and 20% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
45 Days | 39 Days | -12.4% |
Summary: Homes in Gallatin County had an average of 39 days on market in May 2024, down by 12.4% compared to last year.
Breakdown of Home Sale Times
94 Homes Were Sold
Under 30 Days
42 Homes Were Sold
In 30 - 90 Days
22 Homes Were Sold
Over 90 Days
Summary: During May 2024, 158 homes were sold in Gallatin County; 59% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.