Community News

Don’t you love the way spring comes, hesitatingly, with starts and stops, to Montana?  Bluebirds and robins have been sighted, but the cold weather is worrisome for them.  And the elk herds are on the move.  We just enjoy the warming sun when we have it.  It’s still the “Last Best Place!”

Here are some spring thoughts for your perusal.  If you have ideas of something you’d liked to read in these monthly newsletters, just let us know.

QUARTERLY STATISTICS:

One of the most telling stats is that the INVENTORY of active single-family properties in Bozeman Proper is only 58% of what it was 2 years ago and 73% of last March.  This shortage of inventory is causing some new listings to receive multiple offers.  Buyers are sometimes frustrated in finding the property they want.  For instance, in the price range of $175,000 to $200,000, 44 homes were sold in the last 12 months and there were only 3 on the market at the end of March. 

Even in the higher price range of $400,000 to $450,000, 32 homes were SOLD in the last 3 months and there were 14 on the market on March 31.  (Again, in Bozeman proper.)

Another telling figure is that the NUMBER of single-family SALES in the 1st quarter of 2013 in Bozeman is 31% more than in 2012 at this time. 

MEDIAN PRICES are up a bit – 7% - to $272,450 in Bozeman.  They’re up 27% in the area around Bozeman to $335,500. 

Condos and Townhouse INVENTORY mirrors the single-family numbers at least in Bozeman.  The good news there is that there are many condos under construction, which will help.  Building permits are almost back at 2006 levels, after practically coming to a halt for a few years.  But sales are still down about 31% from last year, partially because of low inventory to sell!

SHOULD YOU THINK ABOUT LISTING YOUR PROPERTY AT THIS TIME???

With all the activity and lack of properties to sell, seems like that might be a good idea.  However, it still depends on how motivated you are.  If you need to sell in a short time, you will have to price your property realistically.  Price ranges under $300,000 in Bozeman are showing a shorter absorption rate.  And higher price ranges are getting more attention, but still a lot of competition out there.  Just give us a call to get personalized figures to give you a good idea of what the market is for your property.

WHAT CAN I DO IN PREPARATION FOR SELLING MY HOME?

1. Most important – curb appeal.  Neatness sells.  New paint, immaculate lawn, picture-perfect shrubbery, and colorful potted plants at the front entrance – buyers will want to see inside!

2. De-cluttering is primary.  Pack up all non-essentials, as buyers are trying to paint a picture of what it would be like to live in your home.  You want to give them as clean a canvas as possible.  Rent a storage space, hold a garage sale, or call a local charity.

3. Correct any cosmetic flaws such as painting tired-looking rooms (neutral colors!).  Re-grouting tile and replacing dated, worn-out carpets, dated faucets, light fixtures, and handles and knobs on cabinets are ideas that can make a big difference.  Buyers don’t want to consider homes that need lots of work unless there is a big price discount.

4. Call us for a “Show and Sell” checklist for specific ideas. 

HAPPY SPRING!

Warmly,

Sharon & Brian
Two Generations Serving ALL Generations