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Market Watch

2023 Year-End Review: Market Demographics

Posted on January 31, 2024 by Becca Quackenbush

Nestled amidst the majestic peaks and stunning valleys of the Rocky Mountains, Southwest Montana is a tapestry of natural wonders and vibrant communities. Here, every sunrise brings new adventures, from tranquil hikes along pristine trails to exhilarating ski runs down powdery slopes. It's a place where the spirit of the great outdoors meets the pulse of economic growth, crafting a perfect blend of lifestyle and opportunity.

In the heart of this thriving region, ERA Landmark has been a guiding force. And we take pride in putting our clients first. As 2023 comes to a close, we reflect on a year marked by success and dedication.

Wrapping up 2023, we proudly helped a total of 427 people turn their real estate dreams into reality. Our reach extended far beyond Montana's borders, as we welcomed buyers from across the United States. According to data from the Big Sky Country MLS, the top 5 states from which buyers came were Montana, California, Colorado, Washington, and Texas.

 

Of our residential sales from 2023, 64% of buyer purchases will be used as a primary residence, 27% are investment properties, and 9% will be second homes. When it comes to financing real estate properties across our Big Sky Country MLS, 68% were financed, 32% were cash transactions.

In conclusion, our area has become a magnet for a diverse range of homebuyers, each attracted by the unique lifestyle and opportunities it offers. Looking forward to 2024, we anticipate seeing more buyer opportunities in the market as interest rates ease and inventory levels increase. For a more indepth and comprehensive analysis on real estate in your area, don’t hesitate to reach out to our market experts.

We live here, we love it here, and we are invested in our home communities. With offices in Bozeman, Big Sky, Livingston, and Ennis, contact our team of experts to assist with your real estate needs.

 

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