These purchases rapidly began depleting available home and land inventories and have brought us to a frenzied sellers’ market today. These buyers, who were from all parts of the country, began buying homes and land sight unseen or contingent upon viewing it in the future. Seemingly, when the COVID related lockdowns began in April, everyone was staying at home and on their computer. Suddenly, homes had become affordable because of reduced values and interest rates that were at their lowest point in 30 years.īeginning in 2014, the market became increasingly healthy and had modest annual gains through 2020. Because of this, home ownership became a reality for many local families who were able to purchase homes. Property values dropped to levels that were half of their previous highs. During the recession, these types of properties fell off in priority resulting in a substantial lag in the market. During this time, purchase of lands in the Seeley- Swan Valley had been discretionary second homes and retirement homes for clients from around the world.Īfter 2007 and through the recession into 2012, property sales fell off dramatically in the Seeley-Swan Valley. Land values began to increase dramatically through 2006 when land values peaked in the $8,000 to $15,000 per acre range.
This resulted in an increase of buyers purchasing in a limited inventory market. Land sales in 2000 were between $2,000 and $4,000 per acre.īeginning in the early 2000’s, real estate in the Seeley- Swan Valley experienced increased awareness from buyers from around the world due to the proximity to two major airports in Missoula and Kalispell, mountain views, scenery, wildlife and wilderness access to the Bob Marshall and Mission Mountain Wilderness areas. Between the years of 19, the Seeley- Swan Valley real estate market was a consistent market demonstrating slow upward trends in values and sales.