Real Estate Market Update – Condo/Townhome Market in Gallatin County!
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.