Here is our year over year market report for 2022. There was a major shift in the market in this mid term election year and a major factor was due to Federal Reserve action to stem the inflationary trend in the economy. Every mid term year I have observed the market slowing down in about August. This year was no exception and it seemed things cooled off in about July of 2022. Additionally, mortgage interest rates are currently about twice as much as they were at the start of 2022. This m...
Contributed by Seth Murphy
Photo Credit Pexels - Curtis Adams
Selling your residence is a major undertaking and can be very stressful. Fortunately, there are ways to make the process go more smoothly. Research shows that staged homes, those that are presented in a way that appeals to the greatest number of potential buyers, sell more easily than other properties. The professionals at Exit Realty have some suggestions to help you get your home sold quickly and at the right price.
Address Major I...
First Half 2022 Bitterroot Valley Market Report
The market has turned!!! Not a 180 degrees but it certainly has changed over the last two or three months. Let's take a look at the market through the first half of the year for Ravalli County.
Brought to you by Craig & Char Siphers . First Quarter Market Report
The first quarter of 2022 has not shown much, if any, show down except for perhaps continued lack of inventory has impacted total volume. Here is the review of the first quarter of 2022 by the numbers. According to the Montana Regional Multiple Listing System there were 2 condos sold in 2021 first quarter and 6 sold in 2022, for a 200% incre...
2021 continued to be a sellers market. Here is the review of 2021 by the numbers. According to the Montana Regional Multiple Listing System there were 18 condos sold in 2020 and 13 sold in 2021, down 21% year over year. The reason you'll see is that most developers are going with townhouses vs. condos because of financing. Financing condos, where you do not own the ground but only to the interior walls, is more difficult. We see many of these selling for cash to avoid the financing diffi...
First Quarter 2021 Ravalli County Real Estate Market Report
The Bitterroot real estate market continues on a tear but as we'll see in the statistics, things may be cooling off in terms of number of units sold simply because people cannot find anything to buy and those that are currently in a property don't know if they could get a replacement. Here are the first quarter results as compared to last year. Rather than go into fine detail across the market, we are looking at just the single family...
January 2021
BITTERROOT VALLEY REAL ESTATE NEWS
Brought to you by Craig & Char Siphers
My corporation's name is Rojo Caliente Corporation and that's Red Hot in Spanish. That is what the Bitterroot Valley real estate market was in this past year. We experienced roughly a 17% in appreciation in residential real estate on properties 40 acres or less. Vacant land also saw a strong uptick. If you have been following me for very long,...
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