Is this a good time to buy in the Shepherd area?
You can't beat the rural appeal of Shepherd in the springtime. Shepherd is a rural bedroom community just northeast of the largest metro area in Montana.
The Real Estate Market for Shepherd is blooming a bit this spring with 6 homes which have closed in the last 60 days and 5 more under contract right now out of a total of 31 homes on the market.
Prices in this area vary, here are some recent market numbers:
The average price for a home active on the market: $270,000
The average price for a home under contract on the market: $207,000
The average price for a home that sold in the last 60 days: $241,000
These numbers are a bit higher than the metro area price averages, mostly because many of the sales also include a larger chunk of land.
Could the Shepherd area benefit from a few more homes on the market right now? 5 out of 31 are under contract right now. Trends in the market show us that only about half of the active listings will sell, that would bring the number of likely closings to 15 of the 31 for sale. Hope I'm not confusing you. If you're still with me, that means that right now we have room for a few more homes, priced right, for the market.
When a buyer wants to look at the Shepherd area, right now, for a home with more than 2 acres, they have 18 homes to choose from (some are proposed new construction).