This month as i looked over the direction of the market, i wondered about the sales price movements and the breakdown of market segments. At the "street" level the market does not "feel" strong and closed, pendings and inventory say that it is not. yet the average and median sales price show and increase, so i did an analysis of what has occurred in the high end this year and as you can see from the graphs below, it is both the highest percentage in unit volume and dollar volume it has ever been and when the high end makes this type of move to moves the avarge pricing numbers move up. what i always try and do is give a contextual reference to what is going on in the market and when you remove the high end influence your can see the market has essentially been flat since 2007. as always people are always buying and selling homes so from my perspective can achieve my clients goals of either buying and selling with the market it requires more work and a greater understanding of price points for both buying and selling.

Market update at glance   Year  Percentage Increase 
Yellowstone County  6/30/2101 10/31/2010   2009 2010 or -Decrease
               
Residential  Closed Sales Units   1652 1429   -13%
               
Residential  Pending Sales Units   299 233   -22%
               
Residential  Active Property For Sale 844 988   17%
               
Average sales price Single family Home $201,439 $212,153   5%
               
Average Square feet Single family Home 2274 2351   3%
               
Median sales price Single family Home  $181,000 $187,900   4%
               
Median Square feet Single family Home  2160 2208   2%
               
Average Days on Market Till Offer Received        
Single Family Home      65 64   -2%
               
Absorption rate -  TIME IN DAYS        
Time it would take for all existing     235    
properties to sell with no new inventory         
coming into the market place - residential         
               
SINGLE FAMILY PERMITS MONTH sept 21 25   19%
               
SINGLE FAMILY PERMITS YEAR  199 215   8%
               
Average # Rentals Advertised Sundays 400 340   -15%
               
Average Asking Price  Rental Home $1,024 $1,041   2%