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 by 15% in 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 a positive result of properties selling.

While listings are decreasing, the inventory that is selling is well-priced “deals of the decade”. Value returns to the Big Sky market with even premier luxury properties offered for a fraction of their former price. Both the average and median sales price for single-family homes decreased in 2009 from over $1,000,000 to $855,234 (Average) and $550,000 (Median). Condominium and…

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The supply of homes within the Bozeman city limits declined 26% in 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 by 29% in 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.

Active housing inventory within the Bozeman city limits has dropped below the number of homes sold in the past 12 months. The reduction in inventory represents an 11.11-month supply at the current sales pace. Homes priced under $275,000 are…

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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 the best return in most categories. San Francisco, CA, Honolulu, HI, Anchorage, AK, and El Paso, TX are all high on the list.

Many “back to basics” type projects have remained at the top of the rankings again this year, with exterior replacement projects leading the way. Curb appeal has always reigned…

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