As the new year takes off, residential inventory levels in Big Sky tighten for the first time in years. The supply of homes in Big Sky decreased 15% December 2009 as compared to December 2008. The number of Big Sky condominiums on the market declined by 5% for the same time period. ERA-Big Sky agents indicate that this effect is the positive result of properties selling.
Archives for January 2010
The supply of homes within the Bozeman city limits declined 26% December 2009 from inventory levels in December 2008. This adjustment continues to be a step in the right direction and has been a positive trend for the past 3 months. The supply of homes in Belgrade decreased 29% December 2009 as compared to December 2008 indicating progress toward a general balance between buyers and sellers. As inventory levels tighten, buyers have fewer choices in the marketplace which can increase their urgency to buy.
Remodeling magazine, in conjunction with REALTOR® magazine, recently released its 2009-10 annual report on the relationship between the cost of remodeling projects and the value that it brings at the time of resale. This is the 22nd year of analyzing national and regional data for 33 of the most popular remodeling endeavors. The projects ranged from a 48.1% return on investment to a 128.9% return. Overall, the Pacific region still retains the position of best return in most categories. San Francisco, CA, Honolulu, HI, Anchorage, AK and El Paso, TX are all high on the list.