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Belgrade 2019 Real Estate Trends

by Liz Nitz

Belgrade December numbers are in!  Let’s take a look at the Belgrade real estate pricing trends of 2019, compare it to trends of previous years of 2017 and 2018 and check the crystal ball for 2020.  The following numbers represent all sales in each category for each year and numbers are coming from the Big Sky MLS.

 

Median Sales Prices

First up are median sales prices.  I have divided these sales into Single family, Townhomes, and Condos.  We see a not unexpected increase in median sold prices in all three of these categories BUT we also see a slowing rate of increase which is great news for buyers. This statistic bolsters the thought that the real estate market is becoming more balanced.

Belgrade housing market December median sales price by property type

 

 

Median Price Per Square Foot

Second number I checked to confirm the median sales price slow down, was the median price per square foot. And I reached the same conclusion, that prices are indeed slowing their rate of increase.

Belgrade housing market December median price per square foot by property type

 

 

Days On Market

To help round out the picture of the market conditions, I then took a look at days on market.  If days on market is a large number and homes are languishing on the market, then we would have certainly turned the corner to a buyer’s market.  But alas, this is not what I found and in fact, homes in all categories are still moving along at a good pace with a decrease in DOM actually found in the townhome category.

Belgrade housing market December median days on market by property type

 

 

Looking Ahead to 2020

So what does this mean for Belgrade real estate pricing in 2020?  All indications currently point to a very similar year in 2020 as in 2019.  Mortgage rates are now very low (under 3.7% for conventional 30 year fixed!) which will make it attractive for people to consider a home purchase.  As seen below, Belgrade remains an attractive alternative to Bozeman, and builders are building new homes, especially single-family, as fast as they can.

Belgrade housing market December closed sales by property type

 

 

Even with that though, there is still less than 3 months of inventory on the market.

 

Belgrade housing market December months supply of homes for sale by property type

 

 

I have attached a great listing that is representative of single-family homes in Belgrade.  Thanks to Dina Emmert.  https://www.windermere.com/listing/MT/Belgrade/1547-Powers-59714/103416383

These numbers reflect sold pricing.  Remember that Montana is a non-disclosure state so only licensed realtors can access accurate data.  If you would like to dive deeper into market trends, please reach out and let’s have a conversation! Keep an eye on the blog at https://movemetomontana.com/  for more ongoing analysis. I hope you found this helpful – please pass it on!!

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2316 Gallatin Green Boulevard 17, Bozeman, Montana 59718

2316 Gallatin Green Boulevard 17, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,530Sqft
Beautiful 3 bed 2.5 bath 1530 square foot condo with an attached 2 car garage. This unit features gray cabinets, white hard surface countertops, stainless steel appliances for a great modern feel. Wonderful location close to walking trails, parks, gym, Costco, Target, etc. 3rd bedroom does not have a closet but seller with work with buyer and show them options. AC is an available upgrade.
$445,000

2316 Gallatin Green Boulevard 16, Bozeman, Montana 59718

2316 Gallatin Green Boulevard 16, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,581Sqft
Great modern condo in a prime Bozeman location. Condo is 3 bed 2.5 bath with 1580 square feet with a two car attached garage. Property features gray cabinets, white hard surface countertops, and stainless steel appliances. This is the only unit in the complex that has a bedroom on the main floor. It sits on the south corner with great natural light.
$449,000

2310 Gallatin Green Boulevard 14, Bozeman, Montana 59718

2310 Gallatin Green Boulevard 14, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,540Sqft
Beautiful 3 bed 2.5 bath 1540 square foot condo with an attached 2 car garage. This unit features white cabinets, gray hard surface countertops, stainless steel appliances for a great modern feel. This unit backs to the walking trail and open space with spectacular views of the Bridger Mountains. Wonderful location close to parks, gym, Costco, Target, etc.
$465,000

2320 Gallatin Green Boulevard 23, Bozeman, Montana 59718

2320 Gallatin Green Boulevard 23, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,540Sqft
Beautiful 3 bed 2.5 bath 1530 square foot condo with an attached 2 car garage. This unit features gray cabinets, white hard surface countertops, stainless steel appliances for a great modern feel. Wonderful location close to walking trails, parks, gym, Costco, Target, etc. 3rd bedroom does not have a closet but seller with work with buyer and show them options. AC is an available upgrade.
$472,500

2320 Gallatin Green Boulevard 22, Bozeman, Montana 59718

2320 Gallatin Green Boulevard 22, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,540Sqft
Great unit in the heart of Bozeman. With this location you will have easy access to shopping, schools, and other amenities. Property features 3 bedrooms, 2.5 baths with a two car attached garage. Nice finishes include stainless appliances, hard surface counters, soft close cabinets and laminate floors. These units back to the trail system and parks.
$465,000

2320 Gallatin Green Boulevard 21, Bozeman, Montana 59718

2320 Gallatin Green Boulevard 21, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,540Sqft
Beautiful 3 bed 2.5 bath 1530 square foot condo with an attached 2 car garage. This unit features gray cabinets, white hard surface countertops, stainless steel appliances for a great modern feel. Wonderful location close to schools, parks, gym, Costco, Target, etc. This unit backs to the trail system on both sides for great privacy.
$472,500

3271 Warbler Way A, Bozeman, Montana 59718

3271 Warbler Way A, Bozeman, Montana 59718

3Bedroom(s)
1Bathroom(s)
2,614Sqft
Introducing Skyline Vista, a luxury condo community located on the park in Cattail Creek. With over 2600 +/- sq. feet of living space these 3 bedroom condos live large with a long list of premium upgrades. First floor family room provides a great multi purpose room or office.
$775,000

289 Heights Circle, Bozeman, Montana 59718

289 Heights Circle, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
0.61Acre
2,011Sqft
Custom Home with Additional Income Apartment and a Separate Office Space on .61-acres across from a 5-acre park! This home, built by Dan Jones, has a vaulted ceiling with alder stained trim and door package. The extra-large kitchen has quartz countertops, ceramic tile backsplash, and stainless-steel appliances. The living room features large windows and a beautiful rock fireplace.
$990,000

2938 Warbler Way 16, Bozeman, Montana 59718

2938 Warbler Way 16, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,392Sqft
Elkhorn Condos are designed by Locati Architects. This is an end-unit 3 bedroom condo located near shopping and public transportation, trails, ponds, playgrounds. All bedrooms are located upstairs. There is a one-car attached garage. The main level includes a galley kitchen that opens to the dining and living room.
$445,000
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Range Properties

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