Libby Real Estate news
Guest article by Alice Hayes/Team Hayes Realtors
January 28, 2024
How was the Market in 2023?
Alice Hayes, Team Hayes Realtors
1/1/2023 - 12/31/2023 Real Estate figures were:
153 Residential SALES: 115 Libby; 36 Troy; 2 Yaak
86 Land SALES: 44 Libby; 35 Troy; 7 Yaak
11 Commercial/Multi-Family SALES: 11 Libby
12 Residential PENDING: 9 Libby; 3 Troy
7 Land PENDING: 5 Libby; 2 Troy 3
Commercial/Multi-Family PENDING: 2 Libby; 1 Troy
90 Residential ACTIVES: 60 Libby; 26 Troy; 4 Yaak
120 Land ACTIVES: 77 in Libby; 37 in Troy; 6 in Yaak
14 Comm/Multi-Fam ACTIVES: 8 Libby; 6 Troy
2023 was an interesting year in the real estate market. Inventory of listings remained low and interest rates remained high. Listings were slowly added throughout the year, but choices remained rather limited. When you added both increasing interest rates and increasing listing prices…you saw a rather slow selling season. There is currently a ‘lull’ in the climbing interest rates, and buyers are looking forward to the potential of getting into the home of their choice, and sellers are looking forward to an easier selling process of their current real estate holdings.
Interest rates are coming down! Now could be a great time to purchase.
As of 12/31/2023 - Conforming & FHA Loans: Per Glacier Bk.
30-Year Fixed:
6.5% Strong Buyer w/Good Credit & 20% Down
15-Year Fixed:
5.85% Strong Buyer w/Good Credit & 20% Down
TEAM HAYES REALTORS LLC
Contact us for more information:
OFFICE #: 406-293-2725
Alice: 406-293-8364, alice@alicehayes.com
Jim: 406-293-1926, jim@alicehayes.com
www.teamhayesrealtors.com
417 Mineral Ave Ste 1 in the Mineral Plaza, Libby, Montana
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