Belgrade Montana Market Update: Absorption Rates for Dec 2011

By
Real Estate Agent with Bozeman Montana Real Estate .net

How long will it take to sell my Belgrade, MT home?

In Realtors language, we call it the absorption rate.  We can analyze the sales data from the last 6 months in comparison to the number of homes that are still on the market and make an educated guess as to how long it may take homes in Belgrade Montana to sell.  The chart looks like this:

 

Belgrade Montana Market Update

What does the chart tell us?  If you have a home that has a list price of under $200,000, you stand a very good chance of selling it in under two months since we have sold 64 homes in that price range in the previous six months and currently only have 20 available to sell.  If you have a home that is priced between $201,000 and $300,000, you are looking at approximately five months of marketing time.

When we start to look at the luxury home market in Belgrade Montana, we find the length of time to find a qualified buyer starts to be extended.  Over $300,000 and you could be looking at 12 months, although we do find the homes priced well in the price range can be sold in less than a year if they show well.  If you have a home currently priced above $500,000 you may be in for a longer wait, expecting an 18 to 36 month marketing time frame would not be out of line.

As a buyer, if you are looking in the higher end of the Belgrade, MT home market, there is not a lot of inventory, but you should have some negotiating advantage since there are also few buyers looking to purchase.  As a first time buyer or if you are looking in the affordable housing area of Belgrade, don’t hesitate when you find your dream home, place your offer and expect to pay near asking price.

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I was so sad to learn of Tara's death. I met her in the Gallery 6 years ago when my son entered MSU as a fremashn. She was so warm and friendly as well as being helpful mentioning several engineering groups which my son might be interested in joining. I was of course impressed with the wonderful gallery itself and did purchase paintings over the course of visits to Bozeman. They were visits that I looked forward to to see the art work and Tara. I know the Bozeman art community will miss her and I send my deepest condolences to her family as well as the arts community.
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Jenifer Lower

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