About Billings' Northwest

Since it is the end of the year and the "stock" gurus are touting the "huge" run up in stock prices thought you might like to see the comparison in Billings the past five years vs. the stock indexes

First the dow

Second the S&P 500

Third the NASDQ

Fourth but not least home prices in Billings Both the Median and Average sales prices show a 9.3% increase since 2006. Now just like stocks you can find houses that have done worse and house that have done better. Yet with a house you have had a place to live and paid off Debt($191,850 100% financing @6.14% 30 years you now owe $181,540) and had an interest deduction on your taxes. So the question with all the negativity about housing would you be better today if you had put you money in the stock market or bought a house in Billings in 2006.

The Northwest residential real estate market in Billings Montana is one of the largest geographically with some of the most activity. Just a look at the number of homes that are currently unsold in Area 7 compared to the number that have an accepted contract, the activity index is about 18.5%.

This area is part of The West End of Billings Montana and it's located North of Grand Avenue, sheltered by the striking rock formations of the Rimrocks. 25 years ago, a great deal of this area was underdeveloped, Shiloh road was a tiny 2 lane backroad. Now Shiloh road is a major thoroughfare, (constantly under construction it seems) and has a huge traffic load.

Many new subdivisions have helped to grow this lush part of the historic farm land. Jobs, shopping, and schools systems located on the West End have increased the popularity of this area, therefore, the residential activity is just busier in numbers.

Below you will find some numbers that may interest you, check the previous blogs for a comparison!

Area 7 Northwest Billings Montana

• The average listed price of active listings is $335,000
• The average listed price of pending listings (under contract) is $284,000
• The average listed price of contingent listings (under contract) is $252,000
• The average sold price of homes that have sold in the last 90 days is $258,000
• The number of homes that have sold on average per month in the last 90 days is 46.6 homes per month

Of interest, one of the homes that sold in the last 90 days had a days on market number of 599 days! That's patience!