The 2022 Helena Area Real Estate Market Statistics Report is here!!!

Updated 5/25/2023

Over the time period between April 2022 and May 2023, the real estate market in Helena, MT experienced notable changes. The number of Total Active Properties (Active, Under Contract, Pending) increased from 184 to 220 (19.4%), indicating a growth in inventory. Among these active properties, the number of available listings rose from 51 to 105 (105.8%), showcasing an increased supply of homes available for sale.

A significant shift occurred in the number of properties under contract, which declined from 133 to 115. This change led to a decrease in the percentage of active properties under contract from 72.28% to 52.27%. These numbers suggest a decline in buyer demand or a slower pace of sales compared to the previous year.

In terms of pricing, both the average and median listing prices for active properties saw an upward trend. The average listing price rose from $620,947 to $972,518, while the median listing price increased from $550,000 to $699,000. This indicates a potential appreciation in property values and an overall positive sentiment in the market, most likely tied to the still low inventory of homes.

For properties that were under contract, the average and median prices saw a slight decrease. The average price dropped from $527,577 to $563,251, and the median price declined from $475,000 to $495,000. These changes could suggest negotiations and price adjustments during the contract phase.

The average days on market for properties under contract remained relatively stable at 49 days, while the average days on market for active properties increased from 53 to 79 days. This suggests a longer time for properties to sell, possibly indicating a more balanced market or a slowdown in buyer activity.

Overall, the real estate market in Helena, MT exhibited a mixed picture during this period, with an increase in active properties and listings, a decrease in the percentage of properties under contract, rising listing prices, and a longer time for properties to sell.