Sellers have advantage with low Housing Supply

Published: Wed, 11/01/23

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Low Housing Inventory

When it comes to selling your house, you’re probably trying to juggle the current market conditions and your own needs as you plan your move. One thing that may be working in your favor is how few homes there are for sale right now. Here’s what you need to know about the current inventory situation and what it means for you. (See above chart for Montana Regional MLS trend for new listings)

The Supply of Homes for Sale Is Far Below the Norm

When you’re selling something, it helps if what you’re selling is in demand, but is also in low supply. Why? That makes it even more desirable since there’s not enough to go around. That’s exactly what’s happening in the housing market today. There are more buyers looking to buy than there are homes for sale.

As you can see in National the graph above from Realtor.com, if you look at the last normal years for the market (shown in the blue bars) versus the latest numbers for this year (shown in the red bar), it’s clear inventory is still far lower than the norm throughout the country.

What That Means for You

Buyers have fewer choices now than they did in more typical years. And that’s why you could still see some great perks if you sell today. Because there aren’t enough homes to go around, homes that are priced right are still selling fast and the average seller is getting multiple offers from eager buyers. Based on the latest data from the Confidence Index from the National Association of Realtors (NAR):

69% of homes sold in less than a month.
2.6 offers: the average number of offers on recently sold homes.

Bottom Line

Because the supply of homes for sale is so low, buyers desperately want more options – and your house may be just what they’re looking for!

From "Keeping Current Matters" Oct 24, 2023

Spotlight on Properties

Acreage, Barn and Orchard

Rolling scenic 52+ acres NW of Polson overlooking Flathead Lake with lovely mountain views. Knoll on northeast corner would be an unbelievable building site with 360 degree panorama. Established orchard consisting of 365 cherry trees (Lambert & Van), 26 apple trees (Red Delicious, McIntosh & Wealthy) and an apricot tree along with a large, beautiful barn with four stalls. Two pumps bring irrigation water to the orchard and land. If you want to be on the lake, the Flathead Lake Private Harbor Marina, where boatslips are available, is about a mile west. Also, the Walstad Fishing access is about a half mile west. Newly Priced at $2,300,000, mls 30005425

Property Details

Flathead Lake View Home
Modern appeal to this spacious home overlooking Flathead Lake in the Lakeside Club gated neighborhood. Built in 2016 to take in the spectacular elevated views of the lake and mountains, this home has extensive windows to let in light and scenery. Living space is extended with the ample main floor deck and covered shady patio below. East facing, you'll bask in beautiful sunrises and enjoy the alpenglow of the Mission Range at sunset. Home is open concept living with four suites (two on main, one is full upper floor, one lower) plus exercise room & bonus room. Lakeside Club has paved 3,376 ft private airstrip, shared hangers. scenic nine minute drive to Volunteer Park on Flathead Lake, public boat ramp, grocery and restaurants in Lakeside; an hour to Glacier National Park, 40 minutes to Blacktail Mountain Ski area. Priced at $1,695,000, mls 22212033 Self Guided: 360 Visual Tour

Details & Virtual Open House

The Hollinger Team
RE/MAX of Bigfork
406-837-5531

8545 MT Highway 35
PO Box 725
Bigfork MT 59911
USA

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