Billings market update
Billings housing market: August 2026
The numbers I pull from the Billings MLS each month, with what they mean if you're buying or selling. Updated monthly.
By Eric Antonson, REALTOR® & CPA · Data for August 2026 · Last updated September 28, 2026
August 2026 at a glance
- Homes sold
- 173
- Median days on market
- 29
- Sellers accepted (% of asking)
- 98.7%
- Active listings
- 1,099
- Median sale price
- $399,000
- Months of supply (est.)
- 6.4
My read on August
Fewer sales, but the homes that sold went faster and closer to asking. Sales dropped from 196 to 173, while median days on market fell from 35 to 29 and sellers accepted a median 98.7% of asking, up from 96.5%.
Inventory held steady. Active listings were basically flat (1,093 to 1,099). With fewer sales against the same inventory, the rough months-of-supply estimate rose from 5.6 to 6.4.
Prices were roughly flat. The median sale price moved from $404,375 to $399,000. A single month's median shifts with which homes happened to sell, so I wouldn't read much into a change that small.
What it means for you
- Sellers: well-priced homes are still selling quickly and close to asking. Pricing right from day one matters more than testing a high number.
- Buyers: there's a steady selection to choose from, but the good ones aren't sitting. Be pre-approved before you start touring.
Two months is a short window, and late summer is seasonal. I'll add each month here so the trend becomes clearer over time.
Month by month
| Billings | July 2026 | August 2026 |
|---|---|---|
| Homes sold | 196 | 173 |
| Median days on market | 35 | 29 |
| Sellers accepted (% of asking) | 96.5% | 98.7% |
| Active listings | 1,093 | 1,099 |
| Median list price | $419,000 | $415,000 |
| Median sale price | $404,375 | $399,000 |
| Negotiating gap (median list − median sale) | $14,625 | $16,000 |
| Months of supply (est.) | 5.6 | 6.4 |
How to read these numbers
- Sellers accepted (% of asking): the median share of the list price sellers received, as reported in the MLS.
- Negotiating gap: median list price minus median sale price for the month. It's a rough gauge, since the homes listed and the homes sold aren't the same set.
- Months of supply (estimate): active listings divided by that month's sales. It's roughly how long current inventory would last at the current pace. Lower generally favors sellers, higher favors buyers.
Source: Billings Multiple Listing Service data compiled by Eric Antonson, White Lotus Realty. Data deemed reliable but not guaranteed. Medians are for the month shown. Months of supply is calculated by Eric from the reported figures.
Want the numbers for your neighborhood?
These are citywide. If you're thinking about buying or selling, I'll pull the data for your specific area and price range.