Market Conditions for Billings, Montana Reported by Howard Sumner, BROKER OWNER Updated November 7, 2009.

Current Market Rating: 2 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 2 1 2 3 4 5 Falling Rising

Billings Area has enjoyed steady upward price movement. Average sales price for a family home in Yellowstone County is $201,22 (2009- thru OCT 31ST) down from $209,697 (2008- thru OCT 31ST). Average square footage for a family home sold is 2272 (2009- thru OCT 31ST) Down from 2326 (2008- thru OCT 31ST). Long term the Billings market has seen approximately 5.72% yearly appreciation since 1968. Homes are selling at 96.04% of their asking price. Market time is 65 days to offer in 2009 as compared to 60 days in 2008. Inventory is Down 4%, presently 844 (2009)residential properties in MLS as compared to 876 (2008), affording buyers a good selection, the number of closed sales are 1632 (2009- thru OCT 31ST) compared to 1738 (2008- thru OCT 31ST) 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 $673 (2009) as compared to $678 (2008). Home rental rates average $1053 (2009) as compared to $1114 (2008). Number of rentals advetised on sundays is UP in 2009 393 PER SUNDAYas compared to 301 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

ZIP Codes: 59102, 59105, 59101, 59106

Approximate Location Boundaries: yellowstone county,CITY OF BILLINGS, CITY OF LAUREL, SHEPHERD

Location Characteristics: The Yellowstone Valley, City of Billings is about 50 miles from the mountains. The city has the yellowstone river as the southern boundry, the northern edge of the city bounded by a five hundred foot sandstone cliff. Views are spectacular. With lots of outdoor recreational oppourtunities. Population in the valley is about 137,000 and with the city limits about 100,000. Diverse economy ranging from strong retail, distribution,oil refinning, and very strong medical with two hospitals expanding at good clip. Employment and population growth has been at about the 1% range for the last 12 years.

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