Gardiner, MT 59030 housing market

What this means

• Valuation. Prices are 85% above what local incomes have historically supported (this area's pre-2020 price-to-income ratio).
• Prices. Home values are up 6.4% over the past year (U.S.: +1.2%), but still 6% below their 2022-23 peak.
• Supply. There are 125% more homes for sale than the 2017-19 norm and falling (−36% vs. a year ago), so buyers have more to choose from than before the pandemic.
• Negotiating. Buyer leverage is high (89/100; U.S.: 54): 0% of listings had a price cut (U.S.: 26%).
• Affordability. A mortgage on the typical home takes 99% of the median household income (U.S.: 35%); it takes about $187k a year to keep the payment at 30% of gross pay. That includes about $2,036 a year for home insurance (U.S.: $1,790).
• Disaster risk. FEMA expects about $313 a year in natural-disaster damage per $100k of building value (U.S.: $155), mostly from flooding. Flood isn't covered by standard homeowners insurance.
• 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: −5.0% to +11.3% (80% range; middle estimate +4.3%), 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.

Other ZIP codes in Park County, MT