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Montana real estate market continues upswing despite COVID-19

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Posted at 10:14 AM, Oct 28, 2020
and last updated 2020-10-28 12:14:13-04

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.