A Biased View of Why Real Estate Will Crash In 2021 - The Foreclosure Bubble

The dead giveaways of a seller's market have made themselves really apparent in the Bozeman property market: low inventory and soaring demand has actually induced strong competitors amongst buyers, resulting in higher typical sales prices and less days on the market. Even in the middle of a pandemic, record low mortgage rates have spurred a home buying frenzy across the country. So what does this mean for property owners here and how can they take advantage of existing market trends? Below we take a look at the 2020 market information supplied by the Gallatin Association of Realtors to discuss why it's a great time to sell your house in Bozeman.

Belgrade 2019 Real Estate Trends - Bozeman-Downtown Office

COVID-19 and the SW Montana real estate market – Knoff Group Real Estate -  Bozeman, Montana

Bozeman Real Estate Market Forecast (Future Prices, Trends, Values)

Outsized demand normally suggests that sellers have the upper hand in negotiations- perhaps going under contract rapidly, getting deals over asking rate, or getting very little needs from purchasers. Property buyers can anticipate increased competition for houses, hence needing to bid higher and work more difficult to woo sellers into accepting their deal. Cash uses bring more significance in this market too. After  Try This , we've seen some exceptional changes occur, especially in our homes. Contrary to the situations of the last economic recession, realty activity took flight after the economy ground to a stop in the spring. Investing excess time in our homes naturally shifted housing into focus and as a result the Bozeman and Gallatin County property markets are feeling the effects of an across the country relocation phenomenon.

Source: Gallatin Association of Realtors In Gallatin County, up a dizzying 60. 7% from $435,000 in December of 2019. Taking a look at the 12-month average for 2020, we see a more modest boost at 10. 7%, with development primarily taking place in the last six months of the year. This climb primarily took location in the Big Sky Location. We also saw such as Beaverhead county (+41. 2%), Jefferson County (+29. 5%) and Greater Manhattan (+27. 2%). Average list prices is the point at which half of the sales sold for more, and half cost less, not accounting for seller concessions, in a given month.