Manhattan, Montana Real Estate 3rd Quarter Market update
The following graphs should help you understand where the market in Manhattan is for the 3rd 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.