GREAT FALLS — The COVID-19 pandemic has certainly changed a lot of things this year, but one market that hasn’t taken a hit from COVID-19 is real estate.
The National Association of Realtors reports that home sales are up almost 21% compared to this time last year.
Additionally, Sales of existing homes increased in September, jumping 9.4% from August.
Typically, home sales will begin to decrease this time of year, but with record low-interest rates and an abundance of buyers in the market place, houses are selling in considerably high numbers.
Houses are selling at higher prices overall, with the average price of a home in September up nearly 15% from last year.
Listed properties are also seeing less time on the market, with an average of only 21 days, setting an all-time low record.
For these reasons, Great Falls realtors Ron and Debbie Dodd say that right now is a great time to buy or sell.
“The interest rates are so low, and it's great for planning and getting the home that you want,” said Debbie.