Year end figures for 2015 have been released. Now, with concrete figures for all of 2015, we can compare real estate market growth in comparison to 2014. This month, we will compare single-family home sales in 2015 to annual sales figures during 2014. Here are a few stats:
- Total home sales increased by 6.68% (1,392 sold in 2014, 1,485 sold in 2015)
- Dollar volume increased by 8.93% ($609,153,302 in 2014, $663,572,593 in 2015)
- Average sale price increased by 2.11% ($437,610 in 2014, $446,850 in 2015)
- Median sale price increased by 12.02% ($297,250 in 2014, $333,000 in 2015)
- Homes spent 9.28% time longer on the market in 2015 (88 Days on Market in 2014, 97 Days on Market in 2015)
Summary – Sales, dollar volume, as well as average and median sales prices continued to rise in 2015. The Gallatin market has grown consistently in the past couple years, with 2015 being no exception. Homes did spend a little longer on the market. New construction homes need to be listed once framed, contributing to higher days on the market. In exchange for spending more time on the market, single family homes sold at higher prices. The market continues to be very active and healthy.