When Is the Best Time to Sell Your Home in the Bozeman Area?

Between 2020 and 2021, the number of homes for sale in Bozeman decreased 79% (yes, you read that right), creating an incredibly competitive real estate market. Right now, with the high number of buyers and the low number of homes for sale, any time is a good time to sell your home in Bozeman. But this year there are some big changes on the horizon that will impact the process of selling your home and possibly the price you get for it.

In order to address rising inflation, the Federal Reserve has indicated that there are several interest rate hikes on the horizon this year. Interest rate hikes will increase mortgage rates, which will directly impact the buying capacity of people looking to purchase a home this year. When it comes to selling your home, these potential rate increases mean that there will be fewer buyers who can afford your home. Listing your home before the interest rate hikes take place would be wise if you are looking to get top dollar.

Historically, the real estate market follows a predictable cycle. The number of homes for sale reaches its lowest point at the end of each year. As a new year begins the number of homes on the market steadily increases, reaching a pitch in June or July and then slowly decreasing again into the fall. There are several reasons for this, homes show best in the spring and summer and more people are willing to make a move this time of year. But as a seller, this is also when you will have the most competition. Listing your home ahead of the seasonal surge can pay off as there is less inventory on the market.

If you are considering selling this year, it may be wise to get your home on the market sooner rather than later. We have a number of resources for you here, you can find out what your home is worth here. Or, contact us directly for any questions you may have.

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