The trend of a busier winter in the Real Estate market has continued through January. As I reported last month, the number of sales increased from 2010 to 2011 by 12%. However, fourth quarter sales rose 17% in 2011 versus 2010, illustrating an increasingly active market during a normally slower time period.

Sales numbers during the first month of this year continued this trend and are stronger than any January out of the pasts 8, with the exception of 2005. Some of this increase can be attributed to the unusually mild winter we’ve been having throughout the valley. It’s much easier for buyers to get out and look at homes when its not 20 below outside and driveways are not drifted in.

However, this increase in sales numbers also follows the upward trend of sales numbers that we’ve been seeing in our local market over the past 2 years. There is a continually growing optimism across the country that things are getting better as we’ve started to see unemployment rates decrease nationally.

The number of foreclosures nationally has also been decreasing. According to CoreLogic, a research firm, the number of homes in foreclosure decreased by 8.4% in 2011. As reported by CNN Money, sales of bank owned homes are outpacing the rate at which they are being foreclosed. In November of 2010, 94 bank owned homes sold for every 100 that were in the process of being foreclosed. December of 2011 saw this number increase to 103 bank owned home sales for every 100 in the foreclosure process. Locally, sales of bank owned homes made up less than 13% of total sales in 2011 and 11% in January of 2012.

As usual, I have included data for the number of homes sold during the month of January. In addition to the 36 homes sold during January, another 54 homes are currently pending, or under contract, as of the date of writing this article.

The included data reflects sales of homes in the greater Bozeman area, including Four Corners, Gallatin Gateway, Bridger Canyon, and Bozeman city limits. The data includes home sales reported through the local Southwest Montana MLS, and does not include private party sales.

Tim Ford – REALTOR ©