REAL ESTATE MARKET REPORT
February 2020


M O N T A N A   L I V I N G
BOZEMAN • BIG SKY • LIVINGSTON • BILLINGS
 
   
 

February in Montana, winter finally came...

We received quite a snowfall this month that added feet of snow to our ski hills. It was hard to ski in all of that powder!

In addition to snow, we have a lot of activity in our real estate market. Homes that are priced well are receiving multiple offers, a lot of cash offers. Investors are moving money out of certain states and the stock market into real estate in Montana. In addition, interest rates are great and loan limits for conforming financing have increased! See below...


See below for the latest schedule of events to enjoy in Bozeman, Livingston and Big Sky!

                                                                                           

ARTICLES OF INTEREST:

More Direct Flight Cities to Bozeman
How The Latest Changes to FICO Could Affect You
FHA Expands Options for Condo Financing

Turning Farmland into Agrihoods

Bozeman Real Estate Report

The fastest-growing micropolitan in the entire United States, Bozeman real estate is something to watch! Keep up to date on everything Bozeman, real estate, market statistics, and our personal thoughts on the future market.  Stay one step ahead with us, your local real estate experts.  Sign up below for a complimentary report. 

The Bozeman Real Estate Report will be available soon. Sign up here to receive your exclusive link to the rich insight into the market for 2020 and a retrospective of 2019.

* Sign up here for our semi-annual Bozeman Real Estate Report with extensive data on growth and investment opportunities, coming out soon!

ENGEL&VÖLKERS

Interested in Montana Real Estate? Check out our offerings
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Introducing Engel & Völkers Ranches
 

Western Ranches and Farms for Sale
Engel & Völkers Ranches & Recreation brings you the best of western life in the great outdoors. Advisors from around the western states are here to help you find the best fit. With years of experience, not only in real estate, but water rights & land rights, farming, ranching, and life in the west, our ranch advisors help match you with the right home.

Take a tour of our western ranches

MARKET STATISTICS

Mortgage Rates Are Dropping, Take Advantage Today!
January 2020

For 2020, The National Association of REALTORS® Chief Economist Lawrence Yun sees good news for home prices. “National median home price - 1.9% growth is in no danger of falling due to inventory shortages and will rise by 4%,” the long-term NAR economist predicts. He is also expecting the new-home construction market sales to increase by 10%. Yun and others would like to see home builders bring more affordable units to market to help ease shortages and slow price gains in that segment.

Closed Sales increased 83.9 percent for Single Family homes and 11.9 percent for Condo/Townhouse homes. Pending Sales increased 9.4 percent for Single Family homes and 69.8 percent for Condo/Townhouse homes. Inventory decreased 13.2 percent for Single Family homes but increased 21.0 percent for Condo/Townhouse homes.

The Median Sales Price decreased 6.1 percent to $450,000 for Single Family homes but increased 1.4 percent to $338,000 for Condo/Townhouse homes. Days on Market decreased 28.8 percent for Single Family homes but increased 30.5 percent for Condo/Townhouse homes. Months Supply of Inventory decreased 16.7 percent for Single Family homes but increased 14.3 percent for Condo/Townhouse homes.

We start off the year with continued low-interest rates, low unemployment, and rising rents nationally. These factors should encourage healthy buyer demand and sets us up for a strong start to the 2020 housing market and a lot of optimism for the coming spring market. Click the graphs below for the full reports.

If you would like to know where your property lands, schedule an appointment with one of our real estate advisors for a complimentary property evaluation. Click here




  
 

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CALENDAR OF EVENTS

 

Billings
APR26 | Cher Here We Go Again Tour
APR3 | Revel 2020
Livingston
APR 4 | 2020 Open House 4 Horses
APR 24 | Taste of Livingston
APR 18 | Tap into Montana Brew Fest
Big Sky
Mar 7 | Big Sky Skijoring's 3rd Annual Best in the West Showdown
Mar 7 | Rocky Mountain Pearls @ Gallatin Riverhouse
Apr 10 | 14th Annual Big Sky Big Grass
Apr 18 | Pond Skim 2020
Bozeman 
MAR 14 Pub 317's Run to the Pub
APR 4 Bridal Walk in Downtown Bozeman
APR 17 International Food Bazaar 2020
Gallatin Valley Farmer's Market
Emerson Cultural Center, Bozeman

Saturdays, 9 am-noon
March 7 & 21
April 4 & 18
May 2
 

BOZEMAN CALENDAR OF EVENTS
LIVINGSTON CALENDAR OF EVENTS
BIG SKY CALENDAR OF EVENTS

 

Non-PROFIT PARTNERS
        

MAGAZINE PARTNERS

   


 
                                                           
 
BOZEMAN |  BELGRADE  |  MANHATTAN  |  THREE FORKS  |  BIG SKY  |  BIG TIMBER
EMIGRANT |   LIVINGSTON |  PARADISE VALLEY|  GARDINER  |  GALLATIN GATEWAY
                                                            


Engel & Völkers Bozeman



Engel & Völkers Montana
4064041960
bozeman@evrealestate.com
www.montana406.com