Ask anyone who put their house on the market in Bozeman last year and the answer won't be if they got an offer, it will be how many offers did they receive! Limited inventory drove home prices up fast and Bozeman quickly became a seller’s market. Things calmed down towards the end of the year but if you have been thinking about putting your home on the market, 2022 will be a good year to take the next step. Here are some things to keep in mind.
INVENTORY IS LIMITED, FOR NOW
Currently, there are only 59 active residential listings in Bozeman. That is the lowest number of active listings in all of 2021. Limited inventory means it is a great time to sell your home. The buyer demand in Bozeman has not declined which means you will have a lot of interest when your home hits the market. Low inventory is common during the winter months and we anticipate this steadily increasing as we move into spring. However, we also anticipate continued interest in Bozeman so there should be a lot of buyers throughout 2022.
THERE ARE MORE OPTIONS FOR WHAT YOU CAN DO AFTER YOU SELL YOUR HOME
If you sold your home in 2020 or 2021 it was difficult to find a replacement property. With so many buyers on the market, it was a great time to sell but not such an easy time when you became the buyer. With things cooling slightly, new construction and development picking up again there are more options once you sell your home.
YOU'LL HAVE PLENTY OF AGENTS TO CHOOSE FROM
There are over 800 real estate agents in the Gallatin Valley so you will have a lot of options for who you want to work with! Chances are you know someone or have a friend of a friend who is a real estate agent. That doesn't necessarily mean that's the person you should work with. Navigating a market like Bozeman has been experiencing means you need someone in your corner who can help you with pricing your home correctly, potential multiple offers, and seeing it all the way to closing. If you're not sure where to start, click here for our agent match.
EARLIER IN THE YEAR MIGHT BE A BETTER TIME
Traditionally spring is the best time to get your home on the market, but as we have learned these past two years, normal is out the window! Experts predict a spike of buyers earlier in the year because mortgage rates are expected to rise as we get further into 2022. If Bozeman does have an increase in inventory come spring and summer, having your home on the market now gives you a competitive advantage. Even prior to Covid, winter was an ideal time to list your home.
THE TURNAROUND TIME CAN BE QUICK
We continue to see an influx of out-of-state buyers coming to Bozeman and with that the continuation of cash deals. More cash buyers mean quick turnarounds. Often there are no contingencies or waiting on financing so closings can happen quickly. You want to be prepared before you decide to put the for sale sign in your yard knowing you might have to be out of your home quickly unless you have a rent-back agreement. Having the ability to move out quickly can make it more desirable for potential buyers who are anxious to move in.