Catch our video as we outline some trends and insights of the luxury real estate market in Big Sky Montana. From the record low mortgage rates, a desire to upgrade spaces, and increased buyer demand outside of metropolitan areas, we lay it all out for you!
Why luxury real estate?
The Institute for Luxury Home Marketing shared that “despite the devastating effects of the coronavirus pandemic, the luxury real estate market has seen one of it’s best years since 2008.” People are turning to the luxury real estate market to meet their new needs. Home buyers have prioritized getting more space in the home for both work and play. Spending so much time inside the home in 2020 and 2021 has highlighted just how important having enough space can be, and the luxury real estate market is well equipped to meet those needs.
Record Low Mortgage Rates
Since the start of the coronavirus pandemic, mortgage rates have been at a record low. This often allows home buyers to purchase property at a higher price point than previously possible. In some cases, buyers have also been able to expand their real estate investment portfolios with additional properties. This trend is very apparent in the Big Sky luxury real estate market as well.
Property Availability and Buyer Demand in Sync
2020 maintained one of the highest rates of new listings in the Big Sky market in the past decade. Buyer demand has also increased at an even higher rate. This demand for luxury real estate properties outside of metropolitan areas, such as here in Big Sky, is expected to continue well into the new year.
If you are looking to find the perfect luxury property in Big Sky, we would love to connect and help you explore the possibilities. If you want to chat with us about why we love the Big Sky area, please reach out! You can find us on Instagram, Facebook, and at our contact page!