M O N T A N A L I V I N G BOZEMAN • LIVINGSTON • BIG SKY
March is the promise of Spring!
Wow! Did we get a lot of snow recently! We have had record levels all at one time, but should be on par for a good runoff when the cumulative amount melts. Rafting should be as fun as last year, fishing will need to wait, hiking will be muddy for a little while and the wildflowers will again be colorful and expansive. Let us know if you are coming for a visit, we have a special rate with our local Hilton Garden Inn and some vacation rentals options in multiple areas.
The Engel & Völkers Exchange Conference 2019 Several advisors attended the annual conference at the Chateau Elan in Braselton, Georgia this March for networking, breakout sessions, awards ceremony and special guest speakers such as Brad Inman of Inman News and world-renowned photographer, Platon. The Engel & Völkers for Bozeman and Big Sky were honored with Ruby level, President's Circle and Chairman's Circle awards for production. To read more, the full press release is available here.
What is luxury real estate service? Superior quality and our brand’s reputation are more important than price. Our biggest goal is to make your real estate transaction seamless and to have you so happy at the end, you want to shout from the rooftops! Then we spoil you with treats and parties for the rest of your life...just ask our clients.
Putting Property Tax to Good Use By Allison Hupp, Montana State University Alumni Foundation
Did you know that the 6-Mill property tax levy represents foundational funding for Montana’s colleges and universities and the students that attend them? For 70 years, Montana voters have passed the 6-Mill Levy with overwhelming support. During this legislative session, lawmakers are working to make the 6-Mill Levy permanent( SB152), which would end the requirement to hold a statewide public vote every 10 years. Every Montana community is filled with graduates who have benefited from the 6-Mill Levy, and every Montana employer relies on these institutions for their workforce. Please considering voicing your support for the removal of the sunset on the 6-Mill levy, as it makes sense for our economy and all Montanans.
Take a look at our new development in Belgrade. Call us today for more information and updates on these developments below. They're going fast, don't miss out!
FEBRUARY MARKET S T A T I S T I C S
It is worthwhile to mention the weather when discussing residential real estate for large portions of the U.S. for February 2019, because this month has turned in some impressively cold, rainy and snowy days that have stalled some buying and selling actions. Nevertheless, housing markets have proven to be resilient despite predictions of a tougher year for the industry. It is still too early to say how the entire year will play out, but economic fundamentals remain positive.
Closed Sales decreased 9.1 percent for Single Family homes and 11.1 percent for Condo/Townhouse homes. Pending Sales decreased 4.7 percent for Single Family homes but increased 23.8 percent for Condo/Townhouse homes. Inventory decreased 12.0 percent for Single Family homes and 17.3 percent for Condo/Townhouse homes.
The Median Sales Price decreased 3.4 percent to $420,000 for Single Family homes and 0.5 percent to $295,000 for Condo/Townhouse homes. Days on Market increased 42.0 percent for Single Family homes and 1.3 percent for Condo/Townhouse homes. Months Supply of Inventory decreased 12.9 percent for Single Family homes and 21.2 percent for Condo/Townhouse homes.
The National Association of REALTORS® recently reported that national existing-home sales were down slightly during January 2019 and that pending sales were up in year-over-year comparisons. It is worth noting that some softening of sales was anticipated, as was a positive sales bounce during January 2019 after a slow end to 2018. Weather-related events have hampered some of the necessary machinations of making home sales during February 2019, yet buyers have shown determination toward achieving their homeownership goals.