Post by Poor Richard on Jan 30, 2023 18:44:05 GMT -7
2022 Real Estate Market Year-End Review
ERA reports"The old adage remains that the only thing constant in life is change and that proved to be true for the 2022 real estate market. What seemed like huge market swings in southwest Montana - say, increased inventory levels or increased days on the market - only felt dramatic because we had become accustomed to the unusual market conditions the previous 18 months. We’ve noticed a pause in buyer “frenzy” and wild sales prices. And that’s okay. We have to remind ourselves that homes selling in 48 hours at over asking price are not a healthy or sustainable market. It’s going to take some time to get used to this new feeling of homes “sitting on the market” with occasional price corrections, but nobody should panic. What the numbers actually show is current inventory is still below historically “normal” levels and median sales prices are still up. We’ll give you our high-level recap and then let the numbers show you the details."
Read the full story here.
Read the full story here.