Premium Land Propelling Montana Real Estate
The speculative market for subdivisions in rural parts of Montana are pretty slow, premium land is quickly be purchased by people who have the money, according to Norman C. Wheeler and Associates in Bozeman, Montana, author of the 2007 Montana land valuation study released the week of January 13, 2008.
Large plots of rural Montana property increased 47% in 2007 from the previous year. The appreciation is due to the increasing desire for land coming with water and forest access, which is not a function of land appreciation, according to the report. “The main thing we’re seeing this year, is what’s selling are the better properties,” Wheeler stated Wednesday, January 16, 2008. “The reality is wealthy people continue to buy property and there’s a lot of wealthy people that want to move to Montana.”
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