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The market in Helena, Montana
Helena experienced significant growth in recent years resulting in a limited supply of affordable housing options. This is partly due to the city's desirability as a place to live, with its natural beauty and close proximity to outdoor recreational activities.
Take advantage of the small town - networking and building connections in the community can be crucial when trying to access affordable housing. By getting involved in local organizations or attending housing-related events, you can learn about upcoming housing opportunities and connect with individuals who may have insights or resources to share.
AFFORDABLE Navigating a HOUSING Limited Market
Rising Prices and Reduced Availability
Affordable housing can often be hard to find in a limited market. With rising prices and reduced availability, it can be difficult to get into a quality home that won't put a strain on your wallet. In this article we will explore the options available to you if you are looking for affordable housing in Helena’s limited market, cover strategies to help you make the most of our housing pool and discuss how to find a quality living situation that fits your budget. Buying a home today means operating in a 'seller's market'
where prices tend to be higher and sell faster. In 2023, homes in Helena have sold for 6.3% more than they did a year ago and they have sold in half the time. Looking further down the road, many experts predict that the housing market will continue to grow in our community and prices will continue to rise.
Interested in building? The cost of new construction is increasing as well with high costs of materials, labor, and a high demand that leaves our local building industry working hard to keep up.
Understand the Market
Builders and construction companies play a critical role in the development of new homes and rental properties, which can affect the availability of affordable housing options. The housing market is also influenced by
economy and government policies. By staying informed and proactive, you can position yourself to access affordable housing options that meet your needs.
Set Realistic Expectations
Understanding the current housing market conditions in Helena is crucial. Knowing the average price per square foot of of homes for sale, new builds, and rental properties can help you set realistic expectations for what you can afford. Researching the market trends and keeping an eye on new listings can give you a better idea of what is available and help you make informed decisions.