FOR THE FIRST TIME IN SEVERAL YEARS, THERE IS A SENSE OF RENEWED OPTIMISM, ENERGY, AND CONFIDENCE IN ALMOST EVERY REAL ESTATE MARKET AROUND THE STATE.
There are two markets that are nearly insulated from mar- ket volatility and are always in the top for the most stable. Helena's economic base is secure as the state's capital and with many state agencies and government offices located there. Sales were up 4% to 768 sales averaging $193,404. Great Falls with Malmstrom Air Force Base and its huge agriculture base has remained steady with 804 sales in 2011 averaging $161,276. And also noteworthy, the Butte market saw good stability with 311 sales averaging $115,000. The Billings market is one of the most active in the state. Fueled by oil and gas growth in eastern Montana and western North Dakota, real estate professionals report high levels of buyer activity, shortages of inventory in some price points and emerging new construction. The stability of the medical profession coupled with a regional trading area makes the Billings market very appealing to investors as well as owners. 2011 sales were 1,190 in Billings, with a total of 1,415 in Yellowstone County, at an average price of $207,888.
That is a quick look at our real estate roundup across our broad state, with overall very healthy, stable statistics. One central theme heard around Montana is a voice of optimism for our upcom- ing selling season.
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