Median Home Prices In Great Falls Are Astronomical

Home Price Increases In Great Falls May Be Slowing Down

With nearly 17 thousand homes on the market, Great Falls housing climate seems to have plateaued compared to the past year. While housing prices are not going down they don't appear to be going up either and we may have hit a slowing point.

According to Realtor.com Great Falls has a current median home price of $354.9 thousand dollars and the current median of a sold home is $352.1 thousand.

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There are plenty of homes on the market but when prices range from $10K to $15.2M its easy to see why the median is so high.

Most of the lower priced listings are just land but are included in the median prices. These houses also include multi family homes and apartment complexes for sale.

Are Great Falls Home Prices Falling?

While the steady increase seems to have finally slowed down average home prices are still extremely high compared to 5 years ago which was around 190 thousand.

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Houses are now on the market longer than they have been in the past year with a majority only being on the market a few days or hours before getting an offer they are taking days or weeks to get an offer.

However, it seems that interest rates are making a decrease as well. Hopefully this is a trend that continues to decrease as the rest of the year finishes out.