We are now in a new era of real estate. We have a new world economy, new banking guidelines, potentially new tax ramification for homeownership, new expectations from buyers and sellers alike, new communication and marketing technologies and a new breed of real estate agent.
When comparing the start of 2011 to the start of 2010 we are seeing more activity in the market North of Montana.
What does it mean? People are buying homes again, and in all price ranges. The luxury markets, $3.5 million and up, are very busy. Buyers realize values have dropped about as far as they can expect on the Westside and have decided now is a good time to buy.
This has caused a price upswing for the “best” new inventory priced to market. We are again seeing multiple offer situations with a few properties selling over the asking price. Buyers are noticing a limited inventory of well priced listings, thus there is definitely urgency in our marketplace again.