Why Are Hordes Of Wealthy People Hitting the Strong Button and Going to Montana? – True Pundit

Why do thousands of more affluent people suddenly feel an overwhelming urge to buy a home in Montana? Currently, Montana is one of the hottest land and housing markets in the entire country. When a desirable home is put on the market, it can always provoke a wild bidding war. Of course most of the potential buyers involved in these bidding wars are never from Montana. Large hordes of wealthy individuals from Los Angeles, San Francisco, New York and other major cities flooded the state, and there was a limited amount of housing available to them. As a result, house prices have been pushed to completely unreasonable levels.

In the Flathead Valley, home builders work diligently to create homes for newcomers. The following is from a New York Post article titled “Montana, the sold-out state New Yorkers can’t get enough of”…

Everything around the Lodge, along Montana Highway 35, from Kalispell to Whitefish, is what locals call “COVID homes,” prefabricated track houses that line up along what was once a timber farm – all of which were built. last year and sold for about $ 550,000.

“Most buy vision isn’t visible for the cash deal,” Doug Averill said.

$ 550,000 may seem like a hefty price on those homes that were on the first rise, but now $ 550,000 can be considered a bargain price.

That’s because the average sale price of a home in Flathead County has now risen to more than $ 638,000.

As of May 2020, the average sale price for a home in Flathead County was $ 447,387 – a year later it increased to $ 638,992. The average number of days a property remains on the market has been reduced by almost half, from 77 days in May 2020 to 41 days in May 2021.

Flathead Valley has its own natural beauty, and especially Whitefish which has become a most popular tourist destination.

All of this interest in Whitefish has helped fuel a house price boom unlike anything experienced in the region… – READ MORE

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