Annual 2023 South Central Market Trends

ANNUAL MARKET TRENDS 2023 · South Central Montana

CONTENTS

03

Yellowstone County

04

Carbon County

05

Big Horn County

06

Billings

07

Laurel

08

Red Lodge

09

PureWest Locations

The foregoing information was obtained from the BARMLS and while deemed reliable is not guaranteed. If you are currently working with another agent, this is not intended to be a solicitation.

YELLOWSTONE COUNTY sold properties - 2023 2023 closed RES IDEN TIA L transactions

RESI D ENTI AL units sold

BY PRICE POINT

$3,000,001 and up

0.04%

2023

$1,500,001 - $3,000,000

0.43%

2022

$800,001 - $1,500,000

3.23%

2824

2020

58.88%

$250,000 - $500,000 Under $250k

2365

2021

15.70%

$500,001 - $800,000

2107

3004

2019

21.72%

2680

AVERAGE & MEDIAN sales price R E S IDEN TIA L

LAND $398,109

$188,970

$144,742

$403,768 $126,560

$131,290

$345,316

AVERAGE MEDIAN

$268,029

$284,863

$360,000

$367,250

AVERAGE

$310,000 $244,000

2019

MEDIAN

$260,000

2020

AVERAGE DAYS ON MARKET

2022

2021

2023

$79,061

$79,900

2020

AVERAGE DAYS ON MARKET

2022: 23 days

$101,000 $83,000

$65,000

2019

36 days

$89,700

2021

2022

233 days 2022: 178 days

TOTAL GROSS* sales volume

YELLOWSTONE COUNTY

$1,011,220,001

$891,303,510

$974,742,680

$893,145,002

$728,204,510

2019

2020

2021

2022

2023

Statistics compiled using residential and land sales reported as in the BARMLS database for the date ranges of 1/1/2019 - 12/31/2019 through 1/1/2023 - 12/31/2023, and while deemed reliable, this information is not guaranteed. If you are currently working with another agent, this is not intended to be a solicitation. *Residential and Land only.

2023

CARBON COUNTY sold properties - 2023 2023 closed RES IDEN TIA L transactions

RESI D ENTI AL units sold

BY PRICE POINT

$1,500,001 and up

2023

3.26%

$800,001 - $1,500,000

188

2022

8.70%

$500,001 - $800,000

2021

22.83%

$250,000 - $500,000

206

2020

29.35%

Under $250k

251 261

2019

35.87%

193

AVERAGE & MEDIAN sales price R E S IDEN TIA L

LAND $270,471

$562,292 $492,554

$227,232

$501,195

$436,706

AVERAGE MEDIAN

$442,500

$313,650

$477,500

AVERAGE

$387,444

MEDIAN

$275,600

2020

$138,904 $106,386 $130,000

$318,250

2019

$124,666

2021

2022

2023

65 days

AVERAGE DAYS ON MARKET

$59,500

$50,400

2019

2020

AVERAGE DAYS ON MARKET

2022: 38 days

$72,000

2021

2022

121 days 2022: 109 days

TOTAL GROSS* sales volume CARBON COUNTY

$154,745,877 $139,298,220

$135,308,007

$125,707,183

$72,808,185

2019

2020

2021

2022

$119,000

2023

Statistics compiled using residential and land sales reported as in the BARMLS database for the date ranges of 1/1/2019 - 12/31/2019 through 1/1/2023 - 12/31/2023, and while deemed reliable, this information is not guaranteed. If you are currently working with another agent, this is not intended to be a solicitation. *Residential and Land only.

2023

BIG HORN COUNTY sold properties - 2023 2023 closed RES IDEN TIA L transactions

RESI D ENTI AL units sold

BY PRICE POINT

2023

$800,001 and up

1.47%

$500,001 - $800,000

2.94%

51

2022

$250,000 - $500,000

56

2021

29.41%

67

2020

Under $250k

66.18%

47

2019

29

AVERAGE & MEDIAN sales price

R E S IDEN TIA L

LAND $295,192

$223,314

$215,820 $192,821

$132,283

AVERAGE MEDIAN

$155,188

$151,850

$182,500

$170,500 $137,950

2019

$174,500

AVERAGE

$47,375

MEDIAN

$22,250

$149,000

2020

AVERAGE DAYS ON MARKET

2022

2021

2023

2019

79 days

BIG HORN COUNTY

$79,500

$56,250

2020

2021

AVERAGE DAYS ON MARKET

2022: 63 days

TOTAL GROSS* sales volume

$91,210

$96,515 $72,500

2022

197 days 2022: 136 days

$18,352,900 $10,820,400

$12,558,000

$7,605,371 $4,224,400

2019

2020

2021

2022

2023

Statistics compiled using residential and land sales reported as in the BARMLS database for the date ranges of 1/1/2019 - 12/31/2019 through 1/1/2023 - 12/31/2023, and while deemed reliable, this information is not guaranteed. If you are currently working with another agent, this is not intended to be a solicitation. *Residential and Land only.

$49,500

2023

BILLINGS sold properties - 2023 2023 closed RES IDEN TIA L transactions

RESI D ENTI AL units sold

BY PRICE POINT

$3,000,001 and up

0.05%

2023

$1,500,001 - $3,000,000

0.39%

2022

2.88%

$800,001 - $1,500,000 $500,001 - $800,000

2111

2021

15.80%

$250,000 - $500,000

2528

2020

60.07%

2662

2019

20.82%

Under $250k

1881

2388

AVERAGE & MEDIAN sales price R E S IDEN TIA L

LAND $393,547

$401,718

$361,750

$369,900

$201,981

$344,045

AVERAGE MEDIAN

$285,421

$267,554

$313,700 $262,000

$244,900

2020

2019

AVERAGE DAYS ON MARKET

2021

2022

AVERAGE

$75,293

MEDIAN

$67,500

2023

2019

36 days

$123,391

$125,084

$82,500

$87,750

$80,000

2020

2021

2022

AVERAGE DAYS ON MARKET

2022: 39 days

$124,604

226 days 2022: 202 days

TOTAL GROSS* sales volume BILLINGS

$901,532,556 $786,016,205

$863,518,420

$790,165,941

$647,921,201

2019

2020

2021

2022

2023

Statistics compiled using residential and land sales reported as in the BARMLS database for the date ranges of 1/1/2019 - 12/31/2019 through 1/1/2023 - 12/31/2023, and while deemed reliable, this information is not guaranteed. If you are currently working with another agent, this is not intended to be a solicitation. *Residential and Land only.

$100,000

2023

LAUREL sold properties - 2023 2023 closed RES IDEN TIA L transactions

RESI D ENTI AL units sold

BY PRICE POINT

$800,001 and up

2023

5.30%

$500,001 - $800,000

2022

14.57%

$250,000 - $500,000

143

2021

56.95%

Under $250k

136

176

2020

23.18%

211

2019

181

AVERAGE & MEDIAN sales price R E S IDEN TIA L

LAND $167,420 $376,890

$153,050

$393,561

AVERAGE MEDIAN

$259,616

AVERAGE

$276,033

$335,000

$234,900

2019

2020

AVERAGE DAYS ON MARKET

$135,000

$135,353

$132,588

$327,500

$268,000 $230,900

$139,000

$129,823

$326,286

MEDIAN

$89,900 $78,500

$74,900

2021

2022

2023

2019

32 days

2020

AVERAGE DAYS ON MARKET

2022: 27 days

2021

2022

194 days 2022: 71 days

TOTAL GROSS* sales volume LAUREL

$62,348,325

$59,680,373

$58,248,170

2020

2021

2022

$55,554,611

$48,678,135

2019

2023

Statistics compiled using residential and land sales reported as in the BARMLS database for the date ranges of 1/1/2019 - 12/31/2019 through 1/1/2023 - 12/31/2023, and while deemed reliable, this information is not guaranteed. If you are currently working with another agent, this is not intended to be a solicitation. *Residential and Land only.

2023

RED LODGE sold properties - 2023 2023 closed RES IDEN TIA L transactions

RESI D ENTI AL units sold

BY PRICE POINT

$1,500,001 and up $800,001 - $1,500,000

2023

4.58%

94

2022

7.63%

$500,001 - $800,000

35.88%

124

2021

$250,000 - $500,000

26.72%

2020

Under $250k

25.19%

2019

129 144 101

AVERAGE & MEDIAN sales price R E S IDEN TIA L

LAND

$348,064

$678,633

$515,873

$556,827

$245,114

$559,706 $160,922

$597,500

AVERAGE

$399,500

MEDIAN

AVERAGE

$484,000

$330,618

2020

AVERAGE DAYS ON MARKET

2021

$101,926

$144,750 $118,000

$410,910

MEDIAN

$283,000

2019

$115,282

2022

2023

73 days

RED LODGE

$49,894

2019

2020

AVERAGE DAYS ON MARKET

2022: 71 days

TOTAL GROSS* sales volume

$54,000

$94,155,984 $84,440,646

$72,000

2021

2022

99 days 2022: 96 days

$88,198,994 $72,860,719

$39,041,168

2019

2020

2021

2022

2023

Statistics compiled using residential and land sales reported as in the BARMLS database for the date ranges of 1/1/2019 - 12/31/2019 through 1/1/2023 - 12/31/2023, and while deemed reliable, this information is not guaranteed. If you are currently working with another agent, this is not intended to be a solicitation. *Residential and Land only.

2023

SOU TH CENTRAL M O N TA N A L O CATIO N S BILLINGS

R E D LODGE

525 Henry Chapple Street, Suite 1 Billings, MT 59102 406.601.4210

21 Broadway Avenue North Red Lodge, MT 59068 406.601.4240

P U R E W E S T R E A L E S TAT E . C O M