Distinctly Montana Magazine

w w w. d i s t i n c t ly m o n ta n a . c o m 87 HEaLtHy aND HEaDED W ow…what a winter. If record snowfall is an eco- nomic indicator, we are positioned for a stellar year. Interestingly enough, the nation reported first quarter sales were down in comparison to 2013. Many markets, includ- ing some in Montana, quoted severe weather as one of the causes for sales decline. However, Bozeman and Big Sky fared far better than average for the first 90 days of 2014. Information compiled and recently presented at a statewide REALTOR® meeting by Dr. Scott Rickard, Director of the Center for Applied Economic Research at MSU – Billings, provides some specific data to analyze. In the report, he focuses on the mar- kets which are considered the most influential and largest in the state — Billings, Bitterroot, Butte, Gallatin (Bozeman), Great Falls, Helena, Missoula, and Northwest (Flathead). Just a quick recap for 2013 found Gallatin with the highest average sales price of $259,000, followed by Missoula at $230,000, Billings, Helena and the Flathead at $210,000. All other markets reported average sales prices below $200,000. Billings lead the state in number of sales with 2,248, followed by the Flathead at 1,801, Gallatin at 1,743 and Missoula at 1,211. All other markets had less than 1,000 sales. Many Montana cities followed national trends with first quarter sales down when compared to the previous year. Missoula sales declined 25%; Billings was down 16%; followed by Helena with a 14% decrease; Greats Fall -9%; Flathead -3%; and Bitterroot -1%. The two markets reporting increases were Bozeman with a 4% rise and Butte with 3%. Montana markets in general are still focused on the prime sell- ing season of May through August producing 42% of total annual sales. Bozeman and Big Sky fare above average in the off-season market of December through February (which produced only 19% of the sales statewide) because of the strong skier traffic. by robyN ErLENbuSH HEaLtHy aND HEaDED MoNtaNa rEaL EStatE:

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