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Gallatin Gateway Inn Renovating and Reopening

by Sean McSpadden

Sparking the Rebirth of a Historic Inn

The new owners of one of Gallatin County’s most historic buildings, the Gallatin Gateway Inn, have begun work to reopen its doors for business. M&M Hospitality has started work renovating, restoring and upgrading the old Inn, looking to attract a modern clientele. New ownership has focused on renovating and renewing the building, but they will be doing so in a manner that keeps the building historically relevant and significant. So even though the new Gateway travelers may look a lot different than the customers who first visited the Inn in 1927, the views, the architecture and the experience can stay as impressive as ever.

Last month, we focused on activity in Gallatin County for single-family homes.   This month, we will highlight condos and townhomes.  Activity is also brisk in the condo/townhome segment.

 

Here are a few stats for all of Gallatin County for condos and townhomes:

  • Units increased year over year from 2012 to 2013 by 24%  (532 sold in 2012, 611 sold in 2013)
  • Dollar volume increased by 43% from $101,000,000+ in 2012 to $144,000,000+ in 2013
  • Average sale price also increased from $190,000 to $236,500+
  • For 2014 thru 5/31/2014
    • Sold volume already at $73,000,000 and 249 units
    • 108 additional units ($30,000,000) under contract

Summary – based on current volume and the fact the 2014 statistics don’t even reflect the sizzling hot summer market, 2014 is shaping up to surpass 2013 with ease.

Displaying blog entries 1-2 of 2

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