Montana Real Estate Market Trends & Analysis
The Montana real estate market has been propped up by a thriving economy. Otherwise known as Big Sky Country, the entire state of Montana is currently in the midst of a historic economic expansion. The further the state distances itself from the latest recession, the more it continues to foster wage growth, a strong entrepreneurial climate, and a wealth of new and exciting job opportunities.
It is worth noting, however, that economic expansion is perhaps most noticeable in the housing market. Due, in large part, to increasing wages, low interest rates, and relatively affordable homes, more and more people are looking to actively participate in the local real estate market. Current market conditions are about as balanced as anywhere else in the country, which bodes well for buyers, sellers and investors.
It is worth noting, however, that economic expansion is perhaps most noticeable in the housing market. Due, in large part, to increasing wages, low interest rates, and relatively affordable homes, more and more people are looking to actively participate in the local real estate market. Current market conditions are about as balanced as anywhere else in the country, which bodes well for buyers, sellers and investors.
Montana Real Estate Fees & Regulations
Real Estate
| Closing Conducted by: | Escrow |
| Conveyance: | Warranty Deed |
Foreclosure Procedure
| Primary Foreclosure Method: | Non-Judicial |
| Process Period: | 4 - 6 months |
| Notice of Sale: | Trustee |
| Redemption Period: | 12 Months |
Taxes
| Income Tax: | 1% - 6.9% |
| Corporate Tax: | 6.75% |
| Sales Tax: | None |
| Estate Tax: | No |
| Inheritance Tax: | No |
| Median Property Tax: | 0.83% |
| Property Taxes by County: | http://www.tax-rates.org/montana/property-tax#Counties |
Average Transactional Costs
| Closing Cost: | $2,491.00 |
| Transfer Fee: | No Fees |
| Origination Fee: | $1,796.00 |
Overview
- Median Home Value: $239,300
- 1-Year Appreciation Rate: +5.3%
- Median Home Value (1-Year Forecast): +2.1%
- Median Rent Price: $1,395
- Price-To-Rent Ratio: 14.29
- Average Days On Market: 64
- Unemployment Rate: 3.3% (latest estimate by the Bureau Of Labor Statistics)
- Population: 1,062,305 (latest estimate by the U.S. Census Bureau)
- Median Household Income: $50,801 (latest estimate by the U.S. Census Bureau)
- Percentage Of Vacant Homes: 14.92%
- Foreclosure Rate: 1 in every 9,455
Montana Foreclosure Trends & Statistics
Tax Lien Investing
- Tax Lien or Deed: Tax Lien State
- Interest Rate:10%
- Redemption Period:2-3 Years (depending on property type)