Updated: Feb 12
2019 was a banner year for the housing market in Great Falls. The Median price of homes topped $19600. That's quite a jump from just over $170,000 in 2016. We sold over 1000 homes, a 28% increase over the past 3 years.
We need to make sure that the general public knows that 98% of homes listed sold for list price! When people ask "why should I use a Realtor®?" This is why!
Well done Realtors® .
But what about the buyers? Well there is good news on that front as well. Interest rates continue to hover near all time lows. Great Falls continues to be one of the most affordable markets in the state. Compared to Bozeman, Missoula or Kalispell, you can buy a lot more house for your buck here in the Electric City. Great Falls has always been a more stable housing market in comparison to the other six highest populated cities in Montana.
Specifically, in retrospect to the last housing market crash, Great Falls experienced fewer foreclosures and short sales than other communities and fewer fluctuations in the sales statistics than Montana's other major metropolitan areas.
I believe that the combination of the above described factors, where the market has been favorable in one way or another to both our buyer and our sellers has created a very strong real estate market in Great Falls. I pray that our economy continues to improve and 2020 will be that much better.
God Bless, Jim Dea