How’s The Market? Ennis MT Real Estate

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Ennis Montana is the heart of the Madison Valley in beautiful Southwest Montana.  For anyone looking to visit or purchase real estate in Ennis MT the attributes of the area are numerous.  The area is known for world class skiing, fishing, hunting, hiking and many other outdoor pastimes as well as farm and ranch life and our close proximity to Yellowstone National Park.   To search for homes and Real Estate in Ennis MT Click here.

To better give the residents and visitors a better idea of the current real estate market and trends,  I did a little research to break down the number of sales and median sales value of homes in the Madison Valley for first half and second half of the years going back to the real estate boom of 2007.  Below are the results.

 

Year                              Number of Sales               Median Sold Price

1st half 2007                                                        28                                               $230,750

2nd half 2007                                                      43                                               $267,750

1st half 2008                                                         24                                               $263,500

2nd half 2008                                                       19                                                $262,000

1st half 2009                                                         5                                                   $191,000

2nd half 2009                                                       19                                                  $221,000

1st half 2010                                                         16                                                 $223,150

2nd half 2010                                                       25                                                 $215,000

1st half 2011                                                         20                                                  $201,750

2nd half of 2011                                                  25                                                   $195,000

1st half of 2012                                                    32                                                   $161,500

2nd half of 2012                                                  30                                                   $190,450

1st half of 2013                                                    25                                                    $220,000

2nd half of 2013                                                  38                                                    $238,998

1st half of 2014                                                    28                                                    $193,250

2nd half of 2014    (through 12/10)               44                                                    $236,950

Trends

The major trends we are seeing right now is a steady increase in sales and median values off the lows of the first half of 2012.   We have seen a decrease in the number of foreclosures in the area.  The peak of foreclosure sales in the area is reflected in the early 2012 numbers.  Inventories are still high for the area, it continues to be a buyer’s market.  There are still a few deals to be had but with continued low interest rates savvy buyers are quick to pick up the aggressively priced properties.

We are beginning to see bare land sales in the area as well.  Again inventories of bare lot on the market is very high, but demand is starting to trickle back.

If you are interested in knowing the value of your Southwest Montana Property Click Here for a FREE Personalized Market Analysis 

The information above is from residential homes sales in the Madison Valley and was taken straight from the data on the Southwest Montana Multiple Listing Service.

If you are interested in purchasing property in Montana or just curious about area real estate please contact me.  I am your local real estate expert and am here to assist with all your Southwest Montana real estate needs.

 

Are you trying to understand how the real estate market is doing in your area but don’t know where to begin?

If you are like most people then you are probably hearing mixed information reported from a variety of media outlets, real estate institutions and companies, and various other economic think tanks. This unfortunately creates confusion and causes most people interested in real estate (as a buyer, seller, or investor) to make inaccurate judgments and conclusions about the market.

Think about it, with all this mixed information on whether we are in a good, bad, or flat market, who’s information is the “correct” answer? Also, who is the information you are reading in reference to? A great market for a buyer may be a bad one for a seller while a bad market for a seller may be a great one for a investor/buyer.

The point is, depending on what kind of real estate consumer you are (buyer, seller, investor) then the information you take in needs to be interpreted in light of your objectives. At any given time the market is always “Good”, “Bad”, “Flat”, or “Great”…but that depends on what you are looking to specifically do with real estate.

We can provide you with the proper information to accurately answer “How’s the market?” for you, based entirely on what you are looking to do with real estate.

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This provides you will a complete market report on how the market is doing in your area, depending specifically on your objectives as a buyer, seller, or investor.
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