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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7775 Bridger Shadows Road, Bozeman, Montana 59715, Bozeman, Montana 59

7775 Bridger Shadows Road, Bozeman, Montana 59715, Bozeman, Montana 59715

5Bedroom(s)
5Bathroom(s)
20Acre
5,493Sqft
Impeccably constructed new home located in Bridger Canyon. Boasting almost 6000 +/- sq ft and over 8500+/- sq ft of pure luxury under roof, this home and barn is located on 20 acres in coveted Bridger Canyon. Located just ten miles from downtown Bozeman and 10 minutes from Bridger Bowl Ski area, this brand-new custom home has it all.
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3105 Madrona Lane, Bozeman, Montana 59715, Bozeman, Montana 59715

3105 Madrona Lane, Bozeman, Montana 59715, Bozeman, Montana 59715

5Bedroom(s)
3Bathroom(s)
0.19Sqft
3,053Sqft
Ideally situated on a corner lot in the highly sought-after Alder Creek subdivision, this stunning custom-built 5-bedroom, 3-bathroom family home is brimming with premium upgrades. Enjoy the comfort of air conditioning, walk-in closets in every bedroom, cherry cabinetry + granite countertops in the kitchen, laundry room, and all bathrooms.
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417 W Lamme, Bozeman, Montana 59715, Bozeman, Montana 59715

417 W Lamme, Bozeman, Montana 59715, Bozeman, Montana 59715

4Bedroom(s)
2Bathroom(s)
0.13Acre
2,032Sqft
417 W. Lamme is an adorable bungalow-style home with leaded glass in the picture window and entryway, located in downtown Bozeman. The backyard has been recently redone with a privacy fence, the garage has a new roof, and the foundation has been secured for this 1903 property.
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1948 Southbridge Drive B, Bozeman, Montana 59718, Bozeman, Montana 597

1948 Southbridge Drive B, Bozeman, Montana 59718, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,494Sqft
Beautiful condo in Bozeman's desired Southside! Enjoy the convenient, turn key living while being in the picturesque landscape of south Bozeman. This condo has vaulted ceilings and open concept living and kitchen area perfect for entertaining. Enjoy the walkout covered deck from the living room, spacious and made for relaxing and enjoying the mountain views.
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2755 Fen Way A, Bozeman, Montana 59718, Bozeman, Montana 59718

2755 Fen Way A, Bozeman, Montana 59718, Bozeman, Montana 59718

2Bedroom(s)
1Bathroom(s)
1,129Sqft
Looking for a prime location in Bozeman near scenic trail systems, breweries, and top-notch shopping? Welcome to 2755 Fen Way Unit A, a charming end-unit condo offering both comfort and convenience. As you step inside, you're greeted by an inviting kitchen, dining, and living area, ideal for relaxing or entertaining.
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315 N Tracy Avenue 408, Bozeman, Montana 59715, Bozeman, Montana 59715

315 N Tracy Avenue 408, Bozeman, Montana 59715, Bozeman, Montana 59715

2Bedroom(s)
2Bathroom(s)
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Light and bright, this South East facing unit in The Henry, a six-story luxury condominium building in Downtown Bozeman, #408 has a bright and airy feel to it. Sitting on over 1,439 SF with two bedrooms, and two bathrooms, and a 96+- sf heated balcony, this unit has it all.
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315 N Tracy Avenue 104, Bozeman, Montana 59715, Bozeman, Montana 59715

315 N Tracy Avenue 104, Bozeman, Montana 59715, Bozeman, Montana 59715

2Bedroom(s)
2Bathroom(s)
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Light and bright, this North facing unit in The Henry, a six-story luxury condominium building in Downtown Bozeman, #104 has a bright and airy feel to it. This town home style unit sits on 2,394 +- SF with two bedrooms, plus den, two and a half bathrooms, and a private entrance, this unit has it all.
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14 Naomi Rose Lane, Bozeman, Montana 59718, Bozeman, Montana 59718

14 Naomi Rose Lane, Bozeman, Montana 59718, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
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Low-Maintenance Luxury in Galactic Park! Enjoy one-level living at its finest in this beautifully upgraded 3-bedroom, 2-bathroom condo. Nestled in the desirable Galactic Park community, this lightly lived in home offers the perfect blend of comfort and convenience. Enjoy the benefits of thoughtful upgrades, including a spacious pantry, custom backsplash, and elegant tile accents.
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302 Kermodi Street, Bozeman, Montana 59715, Bozeman, Montana 59715

302 Kermodi Street, Bozeman, Montana 59715, Bozeman, Montana 59715

4Bedroom(s)
3Bathroom(s)
1Acre
3,498Sqft
Welcome to a custom Montana masterpiece! This property is 4BD/3BA, 3,480 Sq Ft on a full acre with great views of the Bridger Mountain Range and Story Hills. This home was built to include reclaimed rustic furnishing to add an extra touch of the Western feel. As you walk through the front door, you are greeted with a beautiful elk chandelier, tile, and hardwood floors.
$1,550,000
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