PureWest is proud to release our annual Market Trends Regional Reports.
Our robust reports create a comprehensive market overview with details that paint a clear picture of the current conditions, based on a recap of 2020 compared to the past five years. First, we dig into trends by county, and then by city. For both residential and land listings, you’ll find historical information about average and median sales prices, total sales volume, average days on the market, percent change list to sold, units sold, closed transactions by price point, and five-year active listing volume. With the same data points for each region, it’s easy to track and understand the real estate market trends for Northwest Montana, Missoula and Ravalli Counties, and Southwest Montana.
2020 was a remarkable year in Montana real estate resulting in a highly competitive market. We had record-breaking sales both within PureWest Real Estate and across the state.
To quote Ryon Brewer, PureWest Christie’s International Real Estate’s Owner and Chief Finance and Development Officer, “As we all know, 2020 was an unparalleled year in many ways—both good and bad. And that’s certainly true for Montana real estate where we saw record-setting sales volume and price increases for almost every type of property, from starter homes to luxury ranches.”
Ryon continues, “Generally, this surge was driven by several factors: historically low interest rates, continued strong employment in many sectors, increased prevalence of remote work (aka the Zoom Boom), and an influx of buyers from both our traditional feeder markets and new ones in the Midwest and eastern US seeking privacy, security, and a more rural lifestyle.”
More from Ryon: “Because of our strong local, national, and international footprint we were able to take advantage of this extraordinary level of interest and help literally thousands of clients find their Montana dream home. We are grateful to our clients for helping us become the #1 brokerage in Montana.”
What a year! If you are interested in learning more about the current state of the market in Montana, please reach out to us. We would be happy to introduce you to an agent that will serve as your Big Sky ambassador, your connection to all things Montana. We look forward to introducing new folks to this beautiful place and to serving local Montanans in their real estate endeavors in 2021!
Southwest Montana experiences record-setting sales.
Featured Photo: PureWest Real Estate - Southwest Montana
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