Hope your New Year is starting out well for you, and that it will bring joy, love and good health to all of you.
Here are a few statistics, articles and thoughts that may be of interest to you.
Any questions, comments, ideas – just let us know!
MULTIPLE LISTING SYSTEM STATISTICS FOR 2014 (as compiled by ERA Landmark)
Single Family Residential (comparing 2012, 2013 and 2014)
Inventories are mainly either down in numbers or barely rising. There is a lot of construction in the works, both multi-family and single family, but with the number of sales we’re experiencing, it is a challenge for buyers to find just what they want. Days on Market are less than they have been, with many properties in the low/medium range selling quickly.
Sales numbers compared to 2012, 2013 and 2014 are increasing, using up what inventory we have on the market. Significantly, Big Sky numbers of sales in 2014 were 52% more than 2012 and 32% more than 2013. Bozeman 2014 sales were 21% more than 2012.
Sales Prices are up in most areas in the last 12 months. In Bozeman median sales prices have moved from $255,000 in 2012 to $300,000 in 2014. Big Sky has seen a rise in median sales price in the last year of 21% – $524,500 to $650,700.
ERA Landmark’s stats show that most of our buyers originate in Montana. The second area is California, then Colorado, Washington, Minnesota, Texas and Florida. And most of our leads, 71%, come from people who know and love us, or referrals by those people. Thank you!
As always, call us for more information (condos, other areas, vacant land, etc.). We’re happy to provide a Current Market Analysis for your property – of course, at no cost!
2015 Remodeling Cost vs. Value: Less Is More
Smaller replacement projects, particularly those that enhance curb appeal, remain the most cost effective way for sellers to improve value.
excerpts from an article in Realtor Magazine JANUARY 2015 | BY STACEY MONCRIEFF
Top 4 projects nationally in terms of cost recouped:
- Entry door replacement (101.8%)
2. Manufactured stone veneer (92.2%)
3. Garage door replacement (88.5%)
4. Siding replacement, fiber cement (84.3%)
In general, replacements cost less and provide a bigger payback than remodels or additions.
BEST DAY TO CLOSE YOUR TRANSACTION?
Fridays and the last business day of the month tend to be the busiest for closings, according to the National Association of REALTORS®. Because of this, we advise our clients to select a closing date at some other time, so that we can receive the best service possible from the title company and lenders.
“Spring and summer days figure prominently in the top of the list, but all seasons are represented,” researchers note on NAR’s Economists’ Outlook blog. The data confirms that, based on existing-home sales data, June and July were the top months for home sales in 2014, followed by August and May. June and July alone accounted for more than 20 percent of the sales that occurred in 2014.
BOZEMAN DOWNTOWN CONDO UNITS
Two penthouses in a Manhattan Upper East Side building still under construction have gone into contract for a total of roughly $57 million, according to their listing agent. Both are just under 7000 square feet. In contrast, a new project in downtown Bozeman at 5 West, just one block from Main Street, features condo units from $265,000 (632 s.f.) to $775,000 (1861 s.f.). If you have any interest in living right where the action is, call us right away, as we think they will sell fast – even before they’re built.
SOCIAL NETWORKS STATUS FROM PEW REPORTS DAILY REAL ESTATE NEWS | MONDAY, JANUARY 12, 2015
Facebook continues to dominate the social networking arena, and its competitors still remain far from its reach and popularity.
While Facebook’s growth has slowed, the level of its user engagement has increased. On the other hand, other social networking platforms like Twitter, Instagram, Pinterest, and LinkedIn have seen “significant increases” over the past year in the proportion of online adults who now use their sites, according to a new survey from the Pew Research Center of more than 1,500 Internet users.
The Pew study found that Facebook held at a 71 percent usage rate among online adults in the U.S. LinkedIn and Pinterest both had 28 percentage usage, and Instagram had 26 percent. Twitter had the smallest usage of the “big” social networks at 23 percent.