Belgrade, MT

Belgrade Montana Real Estate 4^th Quarter Market update The following graphs should help you understand where the market in Belgrade is for the 4^th quarter of 2011. Market for Residential Real Estate in Belgrade, MT The previous graph indicates that the fourth quarter during the holiday season did not taper off as usual, but we actually sold a greater number than the previous quarter and have started to move some of those homes that had been stagnant on the market for awhile! This is great news for Belgrade, we are looking forward to carrying that momentum into the new year. Real Estate Inventory for Belgrade, MT This graph is an indication of our inventory, how well it is moving, and how long it might take to get your home sold. We refer to this as the Absorption Rate. If you have a single family home in Belgrade you are interested in selling, this chart indicates it may take about 4 months to sell. We have sold 35 in the last 3 months and have 49 on the market right now, the math then says we should sell that inventory in about 4 months if we continue to sell homes at the present rate. This is very similar to our 3rd quarter indicators as well, so no marked changes here. Obviously, if you have a home on more than one acre, the news looks a bit more bleak. That market has considerably more inventory than what we have sold. Current indicators suggest that you should plan on a 9 to 12 month marketing period before your buyer shows up, plan accordingly. Average Asking Price to Actual Sold Price The last chart I would like to share with you is the average asking price to sold price. As you can see, if you own a Single Family home under an acre, a condo, in the Belgrade area, there is very little negotiating on your asking price. This doesn't mean you haven't made price reductions to meet the market, but by the time you are negotiating with a buyer, you can usually expect to receive about 95% of what you are asking. If you have a home that is on more than one acre, as you can see, it is still rougher waters for you and you can expect to negotiate your price in order to secure a buyer. If you have further questions about Belgrade homes for sale, or would like to search the homes for sale in Belgrade Montana, please don't hesitate to call or email! We are your expert local real estate broker.

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:

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.

Belgrade, Montana Real Estate 3^rd Quarter Market update

The following graphs should help you understand where the market in Belgrade is for the 3^rd quarter of 2011.

Market for Single Family Homes in Belgrade, MT

The previous graph indicates that Belgrade is struggling with the foreclosures which is evidenced in the continued slight decline in asking and sold prices. It does show a significant improvement for the number of sold homes since our first quarter, and the number of days a home spends on the market is on the decline. Please note the title, this is only for single family homes on less than one acre in our area and does not include condo's or vacant land.

Real Estate Inventory for Belgrade, MT

This graph is an indication of our inventory, how well it is moving, and how long it might take to get your home sold. We refer to this as the Absorption Rate. If you have a single family home or condo in Belgrade you are interested in selling, this chart indicates it may take less than 3 months to sell if priced right. We have sold more homes in the last 3 months than we have on the market currently, the math then says we should sell that inventory less than 3 months if we continue to sell homes at the present rate.

Obviously, if you have a home on more than one acre, the news still looks fairly bleak. There are considerably more homes on the market than there are buyers and you should be prepared for a longer listing period to sell your home. You should also consider very carefully your price point in order to short cut the length of time it may take to sell your home.

Average Asking Price to Actual Sold Price

The last chart I would like to share with you is the average asking price to sold price. As you can see, if you own a Single Family home under an acre, or a condo within Belgrade, there is very little negotiating on your asking price. This doesn't mean you haven't made price reductions to meet the market, but by the time you are negotiating with a buyer, you can usually expect to receive about 98% of what you are asking. If you have a home that is on more than one acre, as you can see, it is still rough waters for you and you can expect to negotiate your price in order to secure a buyer.

If you have further questions about Belgrade homes for sale, or would like to search the homes for sale in Belgrade Montana, please don't hesitate to call or email! We are your expert local real estate broker.

River Rock Sewer Fees

River Rock Subdivision in Belgrade, Montana may be facing some additional costs for its’ residences. When voters opted to reject the proposed bond issue to complete the State mandated repairs to the community owned sewer system, maybe they didn’t realize it was the least expensive solution to resolving the leaking lagoon issue that has plagued the subdivision for the last couple of years.

There are 222 condominium units and 915 homes in the River Rock area that utilize the services of the subdivision for their water and sewer needs. Each of these would have seen a rise of $236 per year for $100,000 of taxable value had the bond passed. Now, the options are limited for funding the overhaul.

The sewer rate fees could be raised substantially to cover the costs, at a price yet undetermined. Or, they could borrow the money from the state. The latter option would cause the budget to go up by $1.6M as the state loan regulations require the additional holdback in reserves. Neither of these options seems better than the bond issue put before the voters previously.

If you are considering a purchase in River Rock, it might be wise to do some investigating! There are some uncertainties ahead, and some research in advance and planning will be key to being prepared should you decide to buy there.

Have a home to sell in the River Rock area? I am available to help you determine the value of your home, and I would be honored to show you how our local real estate brokerage can gain you national exposure in helping to find you a buyer! Call….