Great Falls real estate market has recorded immense success recently – witnessing the highest number of housing closing last month (since 2011) with a 41 % rise from July. This is according to a report from the Great Falls Association of Realtors.
Over $194,000 was recorded as the price for median housing, making it the top average price since 2016.
Commenting to the good state of things, the Great falls Association of realtors President; Johns Lind said July has actually been an exceptional record for Great Falls. Lind further explained how a high median housing price could be quite beneficial to the community.
He said it is a good thing for a community’s median home price to rise, and people like to see that as it can generate more tax revenue to the community.
“You always want to see a community’s median home price going up. It means more tax revenue going to the local community,” says Lind.
Another benefit of the high median home price is that the home will be of higher value. Lind explained that for most people, houses are usually their most significant investment in life, and for this reason, people like to be appreciated, which is normal.
“A house is normally someone’s biggest investment in their life – you want to have that appreciation,” Lind said.
If you love to learn more about housing market statistics, you can find them on the Great Falls Association of Realtors site.