Is the local real estate market stabilizing?

According to local data, the real estate market is stabilizing. Although fewer homes sold in the last month and they are spending longer time on the market, the prices are slightly less than in 2021, according to the Gallatin Association of Realtors.
In November 2021, the median sales price for a single family home in Gallatin County was $735,000. One year later, there was a 4.6% increase, showing the median price at $768,713.

Although there was an increase, the data shows that the Gallatin County market is trending toward a more stable market.

Read more about it here: https://bit.ly/3iaaS0i.

Source: Bozeman Daily Chronicle, Juliana Sukut, December 28, 2022