Your monthly real estate market update for Lewis & Clark County is here! We’ve analyzed the latest data from November 2024 and compiled the key insights to keep you informed and up-to-date on the trends shaping our local real estate market.
SUMMARY: November 2023 vs. November 2024
Single-Family Homes in Lewis & Clark County:
- Median sales price is up by 14.8%, meaning homes are selling for significantly more money compared to last year.
- New listings and inventory have increased by 82%, offering more options for buyers in the market.
- Days on market (DOM) remain steady at 49 days, with homes still selling at a competitive pace.
MEDIAN SALES PRICE
Median sale prices for single-family homes in Lewis and Clark County have risen by $59,950 (14.8%) from November 2023 to November 2024, reflecting robust demand. Compared to November 2019, the median sale price has surged by $193,450 (71%), marking a significant increase over the past five years. While prices continue to climb, the rate of growth appears to be stabilizing, signaling a possible shift toward a more balanced market.
HOMES FOR SALE
The inventory of single-family homes for sale jumped by 82% year over year, with 114 more homes on the market in November 2024 compared to November 2023. This increase provides more options for buyers and indicates an improving inventory situation. Notably, compared to November 2019, inventory has grown by 47 homes (22.8%), showing progress toward addressing the supply challenges of recent years.
DAYS ON MARKET
The days on market (DOM) remained steady year over year at 49 days, demonstrating consistent buyer demand. Compared to November 2019, homes are selling significantly faster, with DOM dropping by 43 days (46.7%), highlighting the ongoing competitiveness of the market despite rising inventory and prices.
Have questions about the current real estate market or want to explore your property’s value in today’s conditions? Contact us today—we’re here to help you navigate the ever-changing real estate landscape with confidence and ease.
