H
eadlines across the nation are touting Wyoming and Montana as having the fastest-selling real estate markets, but local experts offer a more nuanced view. According to a study by ViewHomes, these states rank among the top three for quickest home sales, based on Zillow listings that remain on the market after 30 days.

    In Montana, 15.6% of residential properties lingered on the market for over 30 days, while in Alaska and Wyoming, those numbers were 17.6% and 18.24%, respectively. However, these statistics also reflect relatively small populations of homebuyers and limited inventory.

    Wyoming REALTORS President Annie Wedgewood attributes the low percentage of homes remaining on the market to a small inventory of available properties. "We still have people coming in and wanting to upgrade, and first-time home buyers are a huge part of that," she said. Wedgewood noted that even with mortgage interest rates hovering between 6% and 7%, people are still drawn to owning their own homes for personal equity.

    A Realtor from PureWest Real Estate in Montana offered a similar perspective, citing low inventory as the primary driver of demand. He also identified "the three Ds of real estate" – divorce, debt, and death – as key factors stimulating sales. However, he noted that would-be sellers are pulling their properties off the market due to high interest rates, particularly in the $750,000 to $2 million range.

    Luxury homes like a $8.5 million lakeside property in Rollins, Montana, are selling well, but experts question whether this represents a truly "fast-selling" market. In fact, real estate transactions have slowed down from quick online clicks to face-to-face meetings with clients and loan officers.

    A loan officer in Whitefish, Montana, noted that the luxury market is still moving, but many people are taking their time due to higher interest rates and a growing distrust of internet information. He's spending more time guiding transactions toward closing, often meeting with clients in person or via Zoom calls to explain complex situations.