Montana’s real estate market shows no signs of cooling heading into winter

Buyers from more dense parts of the country continue to flock to the state

New York Weekend Edition /
Oct.October 25, 2020 12:00 PM
Bozeman, Montana

Bozeman, Montana

Montana’s winters are brutally cold, but its real estate market is as hot as it gets.

Buyers from more dense parts of the country continue to flock to the state, with cash in hand and ready to pounce on properties after just a single showing — or sometimes without a showing at all, the Washington Post reported.

The median sales price for a single-family home around the southwest city of Bozeman, an area popular with transplants even before the pandemic, is now $710,000, an increase of $94,000 from July to August.

One mortgage broker in Bozeman said that a buyer already had another lender 20 minutes after she missed the buyer’s phone call.

But it’s not just Bozeman: Cities like Butte and Helena, the state’s capital, have experienced 22 to 25 percent increases in pricing from pre-pandemic levels.

The price hikes aren’t discouraging buyers. One buyer from Orange County, California called broker Charlotte Durham asking for “the 30-second pitch” on a property he said “seems too good to be true.”

“I get three calls like that a day,” Durham said. “Everyone is just looking for what’s next, I guess.” [Washington Post]Dennis Lynch


Related Articles

arrow_forward_ios
Prices increased 6.6 percent year-over-year in September (iStock)

US home prices surged 6.6% in September

US home prices surged 6.6% in September
Cineworld Group CEO Mooky Greidinger and Regal Cinema (Photo via Getty; Wikipedia)

Regal Cinemas scores financial rescue package

Regal Cinemas scores financial rescue package
(iStock)

What doom-and-gloom forecasts miss about the office market

What doom-and-gloom forecasts miss about the office market
From left: Edison Properties CEO Robert Selsam, Ironstate Development's Michael Barry, Stellar Management founder Larry Gluck (LinkedIn; Gluck Family Foundation)

These developers could benefit the most from Soho’s rezoning

These developers could benefit the most from Soho’s rezoning
176 North 6th Street and 16 South Portland Avenue in Brooklyn (StreetEasy; Google Maps)

Brooklyn luxury market surges with nearly $73M in contracts

Brooklyn luxury market surges with nearly $73M in contracts
1045 Madison Avenue and 300 Central Park West (The Benson; Wikipedia Commons)

Manhattan luxury market shows signs of progress with 25 deals

Manhattan luxury market shows signs of progress with 25 deals
TikTok's biggest stars include (from left) Bryce Hall, Griffin Johnson, Addison Rae, Charli D'Amelio and Dixie D’Amelio (Getty)

Firm that manages TikTok party houses goes public

Firm that manages TikTok party houses goes public
Union Square Hospitality Group CEO Danny Meyer and the Union Square Cafe (Photos via Getty; Wikipedia Commons)

Danny Meyer’s Union Square Hospitality halts indoor, outdoor dining

Danny Meyer’s Union Square Hospitality halts indoor, outdoor dining
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...