Undoubtedly, COVID-19 has had a remarkable and far-reaching effect on the US economy. With record unemployment and job uncertainty being a reality for many, it can be tough to find the unseen benefit. However, it is essential to remember that there is also opportunity in times of fear and uncertainty. If you have been planning for a long time to invest in houses for sale in Belgrade, MT, this is the right time to go. The inventory in Bozeman, MT is meager, and the prices are increasing, while in Belgrade, we can still find some houses with competitive prices.
Is this the right time to invest in real estate?
I am not sure about the answer. Several months into the pandemic, there is a possibility for both. House prices fluctuate in some areas, meaning that they could decrease in one place, while an increase in prices in other regions is happening simultaneously; as we can see, location is still an essential factor when pricing real estate.
However, real estate has been booming for Bozeman, Montana, and the multiple offers are off the charts. Given the low financing costs, the buyers are taking advantage to find their next home, and investors are digging for the next deal. Furthermore, we cannot forget that the entire world has now decided to relocate to Bozeman.
Good Luck to all of us... we need more inventory, no kidding. Our residents are not moving anytime soon. If you are thinking about moving here, oh well, I do not believe you should move without calling us to make sure you will have a place to live. The sellers have been hesitant to sell during the pandemic. As a result, the lack of inventory has been causing a considerable number of backups offers, and Bozeman has become one of the most expensive towns in Gallatin County.
As government subsidies run out this fall and more Americans are expected to be pressed financially, there is a strong possibility we will see an increase in available inventory, resulting in another fluctuation in the real estate prices again.
City or suburbs?
Most new buyers are looking for large acreage land, more space, and privacy. They are giving preference to the rural areas that, besides privacy, they will be gifted with the breathtaking mountain views surrounding the rural properties in Montana. We also have seen a great demand for the suburban areas and vacation homes; we have great resorts around here. Most buyers searching for those vacation homes are ending up in Bozeman due to the proximity to West Yellowstone, Big Sky Resort, and Bridger Bowl; it is easy to purchase your home in the central area. We are starting to see slight reductions in the condominium market, where people are required to live in tight shared regions and required to pay high HOA (Homeowners Association) dues. Working remotely may be a reality for many years, and proximity to downtown areas is no longer a priority.
Contact an expert!
No matter what type of property you decide on, make sure that you work with professionals who can guide you during these uncertain times. No matter how much research you do, you cannot replace the expertise of an experienced and knowledgeable real estate agent. Different communities are experiencing other challenges, and you can never assume to know more than those who work in the area day in and day out.
Bozeman Realty Listings has extended experience in the real estate industry and the local area. We can easily represent you and give you the actual market trend history about home prices in Bozeman, MT.
Contact our Bozeman Real Estate Team Today and take advantage of our real estate expertise.