Big Sky Real Estate Market Report: Absorption Rates Dec 2011

How long will it take to sell my Big Sky, 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 Big Sky Montana to sell.  The chart looks like this:

 

Big Sky Absorption Rates

What does the chart tell us?  If you have a home that has a list price of under $350,000, you stand a very good chance of selling it in under six months since we have sold seven homes in that price range in the previous six months and currently only have five available to sell.  If you have a home that is priced between $600,000 and $1M, you are likely facing eighteen months of marketing time, and if you home is listed for over a million, you are in it for the long haul.  There is an extremely good chance of having to market your home for approximately three years before getting the job completed.

As a buyer, if you have the capacity to purchase a home on the upper end of the Big Sky real estate market, your selection should be fantastic and your negotiation position is strong.  Find your dream home and make an offer!

Comment balloon 2 commentsJenifer Lower • December 27 2011 03:36PM

Comments

One of my favorite places (note my picture).. Very nice market report. You have explained it in the best way I have seen. Very nice wording. Have a great day

Posted by Scott Godzyk, One of Manchester NH's Leading Agents (Godzyk Real Estate Services) almost 7 years ago

Thanks Scott!  Tried to keep it simple so everyone could understand :).

Posted by Jenifer Lower, Your Dream. Our Passion. (Bozeman Montana Real Estate .net) almost 7 years ago

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