MISSOULA, Mont. (AP) — Professionals working in Montana’s real estate market say sales of high-end properties have experienced growth in 2020 far beyond their expectations.
The state has recorded sale and price figures that are among the highest in the nation, The Missoulian reports.
Dawn Maddux, a global real estate advisor at Engel & Völkers Western Frontier in Missoula, said her office did 107% more business this year through October compared to last year in sales of vacation homes and luxury properties listed at over $500,000.
“It’s insane,” Maddux said. “Our business has grown exponentially every year, but this year is a record-breaking year.”
A property listed at $7.6 million had three offers, while a lodge listed at $5.7 million received a “very strong” cash offer. Many buyers offer cash, precluding the need for financing, Maddux said.
“It’s a strong seller’s market,” Maddux said. “Things are going for a