Market Reports & Articles

Local Shops Make Holidays Shine

According to a recent informal poll conducted by the Sterling team, downtown small businesses are the preferred Christmas shopping destination among our friends in Montana.   This preference isn’t surprising, as downtown areas, whether big or small, throughout the Big Sky state go all out to transform holiday shopping into a festive and enjoyable experience. […]

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What’s Up With The Bozeman Boom?

Bozeman’s base economic sectors are pivotal drivers of its growth, shaping its prosperity. Industries constituting the core economy bring external revenue into the local community. This fosters the growth of other businesses within the region. In a previous blog post, we looked at the importance of understanding a community’s economic dynamics before making real estate

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New Homes Spell Relief for Missoula Renters

With multifamily construction in full swing throughout 2023, the Missoula multifamily market has finally reached a state of equilibrium. In Q4 2023, the vacancy rate for market-rate rentals nearly doubled, rising to 6.13% compared to 3.37% in Q3. This change is welcomed by renters as it provides more choices.   The current average rent stands

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Can You Use Your Short Term Rental for a 1031 Exchange?

If you own a short-term rental property in Montana, you might be aware of recent discussions regarding the prohibition of certain types of short term rentals (STRs) in residential neighborhoods of Bozeman. Similar regulations are being considered in Missoula too.   The issue will involve an interpretation of the zoning code, likely leading to legal

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Risky Business | 3 Options To Make A Property Use Legal

You’ve found an ideal property – the right location, the perfect building, and even a warehouse for storage, all within your budget. But there’s a snag: your broker informs you that your business isn’t permitted under the current zoning. In a less competitive market, you’d simply look for another property. However, in a tight market,

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Don’t Go Bust in a Boomtown

When it comes to developing and investing in commercial real estate, having the ability to predict the future would be a tremendous advantage. Unfortunately, the crystal ball we acquired from Amazon.com doesn’t cover Montana’s commercial real estate market.   The fundamental factor influencing the value of commercial real estate is the equilibrium of supply and

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Five Things Your Broker Wants You to Know | Finding Space

Finding a new location for your business can be an exciting proposition. Like buying a house, you’ll discuss your needs with a skilled broker. You will tour buildings, laugh at bad paint and carpet, pick up some design ideas, and hone in on the best location. You will put in a competitive offer, and *boom*

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Big Changes in Bozeman’s Housing Market

Bozeman’s multifamily vacancy rate inched its way over 7% in the 3rd quarter of 2023. Vacancy rates will likely continue to rise as 1,476 units are under construction in the market. Rents are dropping and concessions are picking up, as the market shifts from a landlord’s market to a renter’s market.   Vacancy The vacancy

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