Current Market Conditions

December 12, 2017

I have compiled a great deal of data and as I made my way through all of it I discovered a very
interesting trend. Prior to the housing downturn, which is typically agreed to be 2007, Park County
residential housing prices were about 24% below that of Gallatin County. As the downturn took its toll,
that gap increased to 36% in 2012. This put our Park County market out of sync with the Gallatin
market, which we are so closely related to. In recent years our prices have been soaring to catch up to
our traditional stable position. Where I would say we are now. For 2017, through today’s date, the
Median sales price of a residential property in Park County is $262,500. The Median sales price of a
home in the Gallatin County (not including Big Sky) is $326,900. That puts our Park County market 20%
below that of Gallatin.
You might say we over shot a little bit, but I would disagree. Lately, we have been hearing, more-and-
more, things like, “we like the small-town feel Livingston can provide”. Schools are as good or better.
Wind, what wind? The pass isn’t so bad in January. The new hospital is awesome. Bozeman is just too
crazy anymore. You can get so much more for your dollar here. So on and so on.
As REALTORS® we would love for anyone who wants to become a homeowner in our community to be
able to, realize that dream. The heaviest hand influencing our housing prices (including rentals) is and
probably will remain external. As our housing supply continues to shrink and demand continues to
grow, prices will continue to rise.

Michael Wojdylak
President, Park County Board of REALTORS®

Park County Board of REALTORS®