Last week, The Missoulian posted an article entitled “Experts: Montana luxury real estate ‘insane’ in 2020.” Specialized data from the Federal Housing Finance Authority indicates Montana has seen one of the largest increases in housing prices of any state in the country at 10%. Overall, that ranks Montana as #5 in the nation only behind Idaho, Arizona, Washington and Utah with faster housing price increases.
So do Montana’s ‘insane’ numbers shock me?
Not in the least.
What I’ve experienced this year are big city wage-earners leaving the urban areas and retreating to rural wide-open spaces such as Montana. A crazy and unfortunate set of events in 2020 have created the perfect storm to push droves of city folks to these rural communities escalating real estate prices. Personally I had my best year by a long shot. This was a stretch where we weren’t just seeing a bump in a price point or area, it was every sector.
And why wouldn’t they? In my opinion, Montana has everything people could want: four seasons of recreation, including mountain biking, hiking, camping, fly fishing, rafting, golfing and skiing to name a few. Specifically in the Flathead Valley, our proximity to Glacier National Park, Iron Horse Golf Club, Flathead Lake, Whitefish Lake and Whitefish Mountain Resort make it an ideal setting for city-dwellers to spread their wings and recreate.
The biggest question going into 2021 is: will inventory be able to keep up with the demand?
If you are interested in selling your property, now is a fantastic time to do so. I’d love the opportunity to discuss what your property is worth. Please call me at 406-890-5451 or email me at email@example.com.