LIVE BOZEMAN STYLE

Are you operating with a growth mindset?

Bozeman's dynamic residential real estate market has averaged a 2% per month increase for the last 12 months. Translation - one of your biggest assets could have increased in value by 24% in the last year.

What does this exponential growth really mean? in all honesty is a little hard for me to fully wrap my head around, but a property worth $350,000 in Bozeman, MT in January of 2020 is now valued at $434,000, just twelve months later.

This is great news if you are already in our market, and can be daunting if you are looking to enter the market. Properties asking less than $400,000 are selling rapidly, in many cases in a matter of hours. A prime example: a townhouse property was listed in Laurel Glen last week for $310,000. The property was a 2 bedroom, and the listing agent had over 20 offers in a 3 day period. A second example, I listed a 2 bedroom Villard Condo last month for $240,000, and had offers in hand within 4 hours of releasing the property to the MLS. It was pending within 3 days and it will close for over asking in just a few days. This same property was offered in 2019 and expired from the market with an asking price of $224,000.

This data is exciting, and it is also a highlight that today is a great time to review your current real estate portfolio. Equity is growing at phenomenal rates which could create the opportunity for you to leverage your existing properties and grow your investment portfolio. Curious what I mean? Let's talk about how your current properties can help you expand!