Bozeman and Big Sky Market Update | Fall 2022
The statement “Change is the only constant in life” might be one of the most accurate quotes of the past few years. For many people, how they live, where they live, and what they do for a living have changed dramatically in recent years. It has been a blessing for many people to be able to work remotely, while others have had the courage to make a change and embark on something new. As a result, thousands of people have migrated in and out of major cities in search of a fresh start in the future, with Bozeman and Big Sky, Montana ranking high on the national list.
Real estate prices soared to record levels, and the term “frenzy” became synonymous with the market. The market has shifted and a market that was previously in favor of sellers now contains more patient buyers who are willing to wait for the right opportunity. To paint a picture of where things could go in the months ahead, let’s dive into the dynamics that have led to this and share some of our insight.
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BUYERS
If you’re thinking of buying a home, you’ll have less competition and more options than you would have had last year. There is still action in the marketplace here in Southwest Montana. Pace of sales has slowed, meaning that you have more options and inventory!
SELLERS
If you’re looking to sell your house, know that inventory is still low overall. That means, if you work with an agent to price your house based on current market value, it will still sell despite the inventory gains and moderating buyer demand this year. That’s because there are still buyers out there who want to move, and your house may be exactly what they’re looking for.
There are also several ways to reach the team, so please let us know how we can help.
info@lkrealestate.com | 406-995-2404
Bozeman Office: 201 S Wallace Ave Unit A4, Bozeman, MT 59715
Big Sky Office: 11 Lone Peak Dr #204 Big Sky, MT 59716