Mineral County real estate sees high prices, high sales
Have you noticed more houses being built these days and fewer ‘For Sale’ signs at homes?
Well it’s happening and this is a complete reversal for the real estate market in Mineral County.
According to Zillow, in Montana, the median home price of a home is $319,900. California is $615,090. Oregon, $378,900, and Washington’s median home price is $428,896. The median home value in Mineral County is $200,209 while the median price is currently $315,000.
“If locals are thinking about selling their houses or property in the next year or so, right now is the time to list it. Even if it’s earlier than they planned because who knows how long this will last? And please use a Realtor!” pleads Michelle Parkin, manager of First American Title Company in Superior. “Lots of people are coming in with cash. Still plenty of mortgages but cash buyers from all over the country are a lot of people we are dealing with.”
This makes sense especially if they sold their home in California and it didn’t have a mortgage or a low payoff.
Bessie Spangler reports they have had low inventory for quite some time now.
“People are moving here from all different states as well as Missoula. Since the pandemic hit, many have decided that working from home is pretty nice so if they can do that, they want to live here. Because the housing market is slim, bare land for building is also being sold at a much faster pace than a few years ago.”
What Spangler said about working from home is what many others have been saying for several years. The outdoor recreation opportunities are phenomenal in Mineral County with more than enough elbowroom for privacy.
Montana Demographics by Cubit reports the median age in Mineral County is 52.6 years old which is young enough to take advantage of them while easing into the retirement phase of life.
Anita Bailey is a broker with Regent Reality in St. Regis and said the flood gates for them opened June 1.
“Even with COVID, our spring was just bouncing along at a normal pace, but now we are all working long days and weekends all of the time. The Quarter Circle subdivision near Sloway has sold all 17 of their lots, well, an offer is on the last one but last fall only 6 or 7 were sold.
“All of the contractors we know and deal with are too busy right now so a development like Kayak Ridge near Fish Creek is getting lots of calls because the owner is also the contractor meaning people can buy the lots and have a contractor ready to go.”
From the Mineral County Environmental Health and Planning Department, Andy Short has witnessed the growth but not necessarily the same as the agents are seeing it. “I would say subdivision request have been normal. What we are seeing is available lots that have sat for years being developed….so site evals and septic permits are big right now”. Short goes on to say that he hasn’t been fishing much this summer.
“I will add that we are a tiny office so it doesn’t take much to overwhelm us. We are responsible for almost every phase of development so say you get a couple floodplain permit requests, plus a few subdivision requests, plus family transfers or boundary line relocations, a new water tender license or bed and breakfast, and add the regular seasonal construction stuff like addresses and septic permits it gets busy quick. Throw in a few a neighbor disputes about trash or easements then your buried. Put all that in a pandemic and now we are running in circles.”