It’s here! One of the best parts about a new year is the perspective to look back on trends from the previous one. At PureWest Christie’s Real Estate, we pride ourselves on our knowledge of national, statewide, and local fluctuations in the market. Working with our agents can give you an in-depth perspective and market analysis that will help you make informed decisions.
We are excited to share our 2022 regional market trend reports, which feature comprehensive, data-based analyses of residential real estate and land sales in Montana. These reports compare data from 2022 to the past five years, broken down by each county and city in Montana that PureWest serves. We analyze historical data on sales volume, residential units sold, average and median sales prices, gross sales volume, price-point breakdowns of closed residential transactions, and much more!
While each region has its own nuances, we have observed some common trends across the state that indicate we are indeed returning to a more normal market cycle in 2023.
- Most closed residential transactions by price point: the $250,000—$500,000 category
- The total number of residential units sold decreased in all regions
- Total gross sales volume decreased in all regions, though still well above pre-pandemic years.
- Prices remained on an upward trend, but we're seeing a moderation in Q1 of 2023
It might feel slow compared to the unprecedented surge we saw over the last two years due to the pandemic, record low-interest rates, and high stock market values, but this stabilization is good for long-term property values and those looking to buy this year.
By staying informed and up-to-date, our agents ensure that PureWest clients receive the best possible advice and guidance when it comes to buying or selling Montana luxury ranches, log homes for sale, or mountain homes for sale. The market is always changing, and we can help you navigate whenever the time is right for you. Contact Dawn Myrvik Expert Realtor in Montana
