September 2024 Market Update

Your monthly real estate market update for Lewis & Clark County is here! We’ve analyzed the latest data from September 2024 and compiled the key insights to keep you informed and up-to-date on the trends shaping our local real estate market.

SUMMARY:
September 2023 vs September 2024 
Single family homes in Lewis & Clark County 

  • Median sales price is up by 3.5%, meaning homes are selling for more money compared to last year.

  • New listings and inventory have increased by 34%, indicating there are more homes available on the market.

  • Days on market (DOM) have increased slightly, but homes are still selling at a competitive pace.

MEDIAN SALES PRICE 

Median sale prices for single-family homes in Lewis and Clark County have risen by $16,000 (3.5%) from September 2023 to September 2024, reflecting steady demand. When compared to September 2019, the median sale price has surged by $200,100—an increase of over 72%. While home prices are still climbing, the pace is beginning to ease, indicating that we may be moving toward a more balanced market.

HOMES FOR SALE 

The number of single-family homes for sale saw a 34% increase from September 2023 to September 2024, with 44 more homes on the market. This signals an improving situation for buyers, but inventory is still much lower than pre-pandemic levels. Compared to September 2019, there are 80 fewer homes for sale—a 31.7% decline—underscoring the ongoing shortage of listings in our area.

DAYS ON MARKET 

Despite the rise in home prices and increased inventory, the days on market (DOM)—how long a home takes to sell—has increased slightly by four days year over year. However, compared to 2019, homes are selling significantly faster, with the DOM decreasing by 22 days. This points to a market that’s still competitive, as buyers act quickly to secure homes, even as inventory grows.

Have questions about the current real estate market or are curious about your property’s value in today’s market? Contact us! We’re here to help you navigate the ever-changing landscape of real estate with confidence and ease.

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