The Bozeman Daily Chronicle interviewed Robyn Erlenbush, Broker Owner of ERA Landmark Real Estate for their real estate news story published on September 7, 2014
After a few years of slow, incremental gains in the aftermath of the Great Recession, Bozeman’s housing market in 2014 saw a return of confidence.
More than a third of the 70 homes built or under construction in the luxury golf course community Black Bull Run broke ground in the past 12 months, said Bert Brandon, listing real estate broker with PureWest Christie’s, which works with Black Bull located west of Bozeman.
Houses are moving quickly on the other end of the spectrum as well, with those priced at or below $350,000 selling fast and sometimes for more than full price, said Robyn Erlenbush, broker-owner of ERA Landmark Real Estate.
The existing supply for Bozeman houses in that lower price range is about 3-1/2 months, which means at the current pace of sales, all homes in that price range would be sold by about mid-December. It also means that it’s a seller’s market. A six-month inventory is generally considered a healthy balance between buyer’s and seller’s markets.
New Montana residents, investors, and young professionals are driving the sales and real estate moves, Erlenbush said.
“Part of what I love about the American spirit is people are attracted to real estate as a long-term investment,” she said. “Part of (this surge in confidence) was there was pent-up demand from when things were so tough. … (Homeowners) weren’t willing to sell their homes or take a loss.”
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