Here’s a question for ya: In what city will you currently find a ten-year surge in local real estate markets, all time records set for new home sales and sale volume, and total sales volume in 2006 topping 1.2 billion? The first few cities that come to my mind might be Portland, Minneapolis, maybe Cleveland. Well, I’m actually referring to Bozeman, Montana. According to The U.S. Bureau of Economic Analysis, Montana’s per-capita income increased by 5.8% in 2006, making the State the 9th fastest growing economy based on income in the nation! There is some good merit in taking a look at real estate opportunities in Montana, and more specifically, Bozeman. Consider this: in 2005, the appreciation rate for Montana real estate was a whopping 12.5 percent.
Montana has been known for its “Big Sky Country” and you can really find some very big, open space there. This is one of the reasons Montana could make in ideal spot for that second home, or a perfect opportunity to get out of the hustle and bustle of a crowded city. Bozeman is located just 90 miles from Yellowstone National Park and is surrounded by breathtaking mountain ranges. Residential real estate prices are, however, surprisingly reasonable when taking into account the magnificent scenery and quality of life one can find here.
For example, take a look at The Village Downtown, in Bozeman, constructed by the Village Investment Group. The Village Downtown is a 5 story “loft-style” condo development, with 218 total units. Average Unit Size is between 863 – 2,770 sq.ft. and price range is between $289,000 – $995,000. As you can see, this is a lot of bang for your buck. This is a truly quality construction with high-end finishes and a maintenance-free lifestyle. It is a Lock-and-leave opportunity to experience nearby Yellowstone Park, three ski resorts, hiking, horseback riding, fishing, kayaking and more. I mean, this is a very unique style of living compared to what you will find in much of the rest of the county.
So what I am trying to say with all of this, is that when you consider your next home or real estate investment in San Diego, Miami, or Las Vegas, don’t forget to also consider the opportunities that lie in Montana’s “Big Sky Country.”