This month, we will compare single-family residence sales for Quarter 1 in the Gallatin County between 2014 and 2015. The 2015 numbers reflect sales through 2/28/15. Since Quarter 1 of 2015 has not ended, I have adjusted quarterly numbers in 2015 by adding a month of projected home sales.
Here are a few stats for all of Gallatin County single-family homes:
- Unit sales decreased in the first quarter by 2.92% (211 sold in 2014, 137 in 2015, adjusted quarterly rate of 205)
- Dollar volume decreased in the first quarter by 2.48% ($87,394,684 in 2014, $56,812,622 in 2015, adjusted quarterly rate of $85,227,460
- Median sale price in the first quarter increased by 11.08% ($289,000 in 2014, $325,000 in 2015)
Summary – Numbers for the month of March are projected numbers. Although January and February sales were slightly lower than those seen in 2014, March may greatly impact the overall market health of the quarter. Based on these projected numbers, the market saw a slight setback but continues to stay on pace with high sales seen in 2014. Median sale prices continue to rise, showing that home values in the Gallatin County are up and trending upwards. As of now, 2015 looks to be in line with numbers seen in 2014.
Hart Real Estate Solutions