OUR MARKET

Posted by Bonnie Martin Designated Broker on Monday, January 30th, 2012 at 8:06pm.

Heart of Montana Realty's website goal is to provide regular updates and insight into the Southwest Montana Real Estate Market Like the rest of the nation, Gallatin County has been fighting an uphill battle to find positive hints of an improving climate for our marketplace. Finally we are seeing some comforting data. Even better, some of this is evident when reviewing last year's numbers. As proven before, a recovery will be ongoing before anyone actually notices the improvement. Analyzing year over year, 2010 and 2011 sales information shows a measurable increase in the number of properties sold, and even a small (granted very small) appreciation in sold prices in some niches in our market. The lions may not be roaring, but they are stirring.

In 2010 the strength was in the lower end of our market. This was decidedly a result of the temporary home owners' tax credit stimulus and inventory was dramatically reduced. In 2011, the increase in activity was most noticeable in the $250,000-$350,000 range as we saw building permits in these ranges improve. At the beginning of this year we are starting to see some movement in the upper price ranges of $500,000 and above. This certainly does not represent a return to the heated pace of 6 years ago, but it does have the feeling of a corner being turned....

 

Leave a Comment