Granite County, MT housing market

What this means

• Valuation. Prices are 101% above what local incomes have historically supported (this area's pre-2020 price-to-income ratio).
• Prices. Home values are up 3.3% over the past year (U.S.: +1.2%).
• Supply. Listings are 14% below the 2017-19 norm and rising (+10% vs. a year ago), still somewhat tight.
• Negotiating. Buyer leverage is high (96/100; U.S.: 54): homes typically sell at or above asking (100.0% of list) (as of Dec 2020); 21% of listings had a price cut (U.S.: 26%).
• Affordability. A mortgage on the typical home takes 57% of the median household income (U.S.: 35%); it takes about $112k a year to keep the payment at 30% of gross pay. That includes about $1,696 a year for home insurance (U.S.: $1,790).
• Disaster risk. FEMA expects about $167 a year in natural-disaster damage per $100k of building value (U.S.: $155), mostly from flooding.
• Outlook. Leaning up: likely −5% to +11% over the next 12 months (75% chance of a rise).

Next 12 months

Leaning up

Prices are more likely to rise than fall over the next year. Likely change: −5.3% to +11.0% (80% range; middle estimate +4.1%), chance of a rise 75%, of a 5%+ drop 10%.

HouseVane's model, refit every month on local market signals and national ones, trained only on data known at the time. How accurate it has been.

ZIP codes in Granite County, MT