59840 Housing Market Report May 2025•Ravalli County, Montana

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Housing Prices in 59840, MT

How much do homes in 59840, MT cost?

Housing Market Conditions

Is 59840, MT a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

59840 is a Buyer's Market

Difference Since May 2024

At the same time last year, 59840 was a Seller's Market.

Insight

59840 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$495,000$304/SqFt
-$16,975
-3.3%

Based on all homes sold in the last 12 months

Insight

Homes in 59840 have sold for 3.3% less than they did a year ago.

Summary: The median home sold price in 59840 was $495,000 in May 2025, down 3.3% from last year, and the median price per square foot was $304.

Median Sold Price By Zip Codes

Median Sold Price By Zip Codes
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
59829
+4.3%
59840
-3.3%
59875
-4.6%
59828
-12.5%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsMay 2024May 2025Change YoY
1-$358.8K
N/A
2$399K$379K
-5.0%
3$521.6K$510K
-2.2%
4$657.5K$595K
-9.5%
5$1.4M$1.3M
-7.1%

Summary: 59840 housing price by bedroom type for May 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes decreased by -5.0%. The home price for 3 bedroom homes decreased by -2.2%. The home price for 4 bedroom homes decreased by -9.5%. The home price for 5 bedroom homes decreased by -7.1%.

How does 59840, MT compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

59840, MT

Housing supply in 59840, MT

How many homes are available in 59840, MT?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
131Last MonthMay 2025
1112 months agoApr 2025
+18.0 %
Change MoMApr – May

Summary: The 59840 real estate market had 131 homes for sale in May 2025, a 18.0 % increase compared to Apr 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
14Last MonthMay 2025
242 months agoApr 2025
-41.7 %
Change MoMApr – May

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsApr 2025May 2025Change MoM
123
+50.0%
22626
0.0%
35771
+24.6%
41619
+18.8%
51012
+20.0%

Summary: 59840 housing inventory by bedroom type for May 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +50.0%. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes increased by +24.6%. The inventory for 4 bedroom homes increased by +18.8%. The inventory for 5 bedroom homes increased by +20.0%.

Asking Price vs. Sold Price

How much do homes in 59840, MT cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price3 Homes

At Asking Price3 Homes

Under Asking Price8 Homes

Insight

If you're buying a home in 59840, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in 59840 in May 2025, down by 41.7% month-over-month. Of the 14 sold homes, 57% were sold under asking, 21% were sold at asking, and and 21% were sold over asking.

Days on Market for 59840, MT

How long does it take to sell a home in 59840, MT?

Breakdown of Home Sale Times

Under 30 Days4 Homes

30 – 90 Days7 Homes

Over 90 Days3 Homes

Insight

Avg time on Rocket Homes in 59840 has remained consistent over time.

Summary: During May 2025, 14 homes were sold in 59840; 29% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
61 DaysThis YearMay 2025
66 Days1 year agoMay 2024
-7.7 %
Change YoYMay 2024 – May 2025

Summary: Homes in 59840 had an average listing age of 61 days in May 2025, down by 7.7% compared to the previous year.

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Newest Listings in 59840, MT

What homes are available in 59840, MT?

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MLS Disclaimers and Copyright

Based on information from Montana Regional MLS, and Big Sky Country MLS for the period 06/01/2023 - 06/01/2025

IDX The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (IDX) program of the Montana Regional Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright© 2025 Montana Regional Multiple Listing Service, Inc. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/4/2025, 3:45:31 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDXThe data relating to real estate for sale on this web site comes in part from the Internet Data Exchange of the Gallatin Association of Realtors/Big Sky Country MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright© 2025 Gallatin Association of Realtors/Big Sky Country MLS. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/4/2025, 3:45:28 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.