Billings Area has enjoyed steady upward price movement. Average sales price for a family home in Yellowstone County is $199,566 (2009- thru April 15th) down from $202,842 (2008- thru April 15th). Average square footage for a family home sold is 2299 (2009- thru April 15th) up from 2283 (2008- thru April 15th). Long term the Billings market has seen approximately 5.72% yearly appreciation since 1968. Homes are selling at 95.49% of their asking price. Market time is 79 days to offer in 2009 as compared to 70 days in 2008. Inventory is UP 10%, presently 828 (2009)residential properties in MLS as compared to 753 (2008), affording buyers a good selection, the number of closed sales are 345 (2009- thru April 15th) compared to 505 (2008- thru April 15th) buyers do need to make a timely decision on which home to purchase.
On the Rental side of the market the average asking price for an apartment in Billings is $695 (2009) as compared to $678 (2008). Home rental rates average $1086 (2009) as compared to $1114 (2008). Number of rentals advetised on sundays is UP in 2009 136 PER SUNDAYas compared to 108 PER SUNDAY 2008. So Billings is experinceing a slight increase availibity of units to rent.

If your Thinking of Buying or Selling, Please call me for the current facts about the Billings Market.
Howard Sumner 406-245-6890 or 800-317-5769