Here’s a quick look at the Billings real estate market at the end of 2020.Looking to buy a home? Click here to search all homes in your area.Looking to sell a home? Click here for a FREE
Whats Going On In The Billings Real Estate Market
Dated: November 25 2020
Here’s a quick look at the Billings real estate market at the end of 2020.
Looking to buy a home? Click here to search all homes in your area.
Looking to sell a home? Click here for a FREE home valuation.
With 2020 being such a strange year, a lot of people have been asking me about how the Billings real estate market has fared throughout all the craziness.
In a nutshell, the market has been hot. From 2019 to 2020, we’ve seen a 10% increase in the number of homes sold. Prices are also up by 5% from last year. Inventory has remained low, meaning that sellers are selling quickly and for great prices, often with multiple offers.
Why has the market remained hot? For starters, interest rates have been incredibly low. This has kept demand from buyers high. Second, Billings has been a desirable place for a lot of people to move to from all around the country.
In a nutshell, the market has been hot.
If you’re still looking to buy a home in 2020, I would highly encourage you to take a look at inventory, and if you find something you like, jump on it as soon as possible because we don’t know when interest rates will be this low again. If you need to sell your house, it’s still a great time. Buyers are out there, and there is less competition from other home sellers.
On a personal note, I want to wish you and your loved ones a happy Thanksgiving. I know this has been a challenging year for us all, but I hope you stay safe and healthy throughout the holiday season.
If you have any questions about the Billings market or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you.