Manhattan, MT

Manhattan, Montana

Who knew that tucked away just outside of view from the freeway as a driver makes their way to the more populated Bozeman or Billings is the little town of Manhattan? With a population of 1,300, Manhattan is framed with picturesque panoramic of the Horseshoe Hills and the Bridger Range.

The old west town is supported on industries including potatoes, dairy, wheat, and cattle. Because of its food, arts, and outdoor recreation scene, the town of Manhattan is authentically rustic as fewer and fewer cities here and Montana can claim to be.

Originally named Hamilton, the renamed Manhattan has been an establishment here in southwestern Montana since 1865. By their traditions continue for many years to come.

Enjoy local events such as:

Garage-A-Rama,

Manhattan Easter Egg Hunt,

Farmer’s Market,

Potato Festival,

Christmas Stroll

How long will it take to sell my Manhattan, 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 Manhattan 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 $300,000, you stand a very good chance of selling it in about twelve months since we have sold 14 homes in that price range in the previous six months and currently only have 8 available to sell. If you have a home that is priced between $301,000 and $500,000, you are looking at approximately 18 months of marketing time.

When we start to look at the luxury home market in Manhattan Montana, we find the length of time to find a qualified buyer starts to be a guess. We have not sold a home over $500,000 in this market in the previous 6 months, but we did sell 4 in the 6 months prior to that. With 12 homes on the market currently priced in this category, this could leave the time your home will remain on the market near three years.

As a buyer, if you are looking in the higher end of the Manhattan, 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 Manhattan, you will also have the time to consider your purchase and be able to comfortably negotiate.

Insight into Gallatin River Ranch located in beautiful Manhattan, Montana.

If you have ever pondered buying a lot in the picturesque Gallatin River Ranch, Manhattan, MT then take these points into consideration:

Social life is alive and well on the Ranch. Residences have get-togethers, Sunday socials, and parties nearly every weekend throughout the warmer seasons. Clubs of all sorts, book, walking, hiking, bird watching, ect. organize and thrive with a tight network of neighbors. All the activities that this great area is known for are often done by group of Gallatin Ranchers: hunting, skiing, fishing, floating, haying, building fences… the list is endless. Borrow some sugar or have someone to watch your pet when you’re gone—this is how life used to be and Gallatin River Ranch community is able to still boast this down-to-earth simplicity.

About access, the Ranch has the allusion of being tucked away in its own little corner of the world, but in reality it is just a jaunt away from the freeway making access to Bozeman, Yellowstone National Park, Big Sky, and much more a short drive away! The mountains do have a way of masking all noise though, only extending the aura of having your own piece of paradise!

So cast away your notions of icy isolation when buying a large Montana lot and replace it with a unique sub-society within Montana’s majestic landscape! If you are interested CLICK HERE!

source: "Gallatin River Ranch.. from the Seller" Denise Andres

Manhattan, Montana Real Estate 3^rd Quarter Market update

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

Market for Single Family Homes in Manhattan, MT

Manhattan is a small and desirable location for families. The graph seems to show the asking prices have finally come closer to the price buyers are willing to pay for a home. We are hoping to see another sparked improvement in the next few quarters as Blackhawk Industries prepares to make their move to the small community.

Real Estate Inventory for Manhattan, 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. Homes in Manhattan have not been quick to sell this year. Again, we are expecting the new jobs being offered to spark renewed interest. You should also consider very carefully your price point in order to be one of the few in this market that does sell.

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 home in Manhattan and are one of the lucky ones to sell, 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 Manhattan homes for sale, or would like to search the homes for sale in Manhattan Montana, please don't hesitate to call or email! We are your expert local real estate broker.