Bozeman 2019 Real Estate Pricing Trends

by Liz Nitz

Bozeman 2019 Real Estate Pricing Trends

Bozeman December numbers are in!  Let’s take a look at the Bozeman 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 and bolsters the thought that the real estate market is becoming more balanced.

Bozeman housing market December median sales 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.

Bozeman 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 single family home category.

Bozeman housing market December median days on market by property type

 

 

Looking Ahead to 2020

So what does this mean for Bozeman 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.  Movement to the Bozeman area is expected to continue at similar rates (about 1500 people a year) as in previous years.

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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The following homes listed below were just listed in the last 7 days. This seller’s market is hot so we keep a close eye on the latest inventory. Subscribe below for instant updates of your ideal criteria.

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2238 Baxter Lane 8, Bozeman, Montana 59718

2238 Baxter Lane 8, Bozeman, Montana 59718

2Bedroom(s)
2Bathroom(s)
970Sqft
This cozy, well-maintained, and bright second level 2 Bed, 2 Bath condo boasts it all from new LVP flooring throughout the kitchen and living room to its convenient proximity to shopping, parks, and schools. Enjoy the mountain view from the covered balcony before heading to the nearby walking trails. Easy access to the detached single car garage and private parking space.
$375,000

1755 Windrow Drive, Bozeman, Montana 59718

1755 Windrow Drive, Bozeman, Montana 59718

4Bedroom(s)
2Bathroom(s)
0.02Acre
2,100Sqft
Modern, single level living in Flanders Mill! This like-new home boasts soaring ceilings, an entertainer’s kitchen with quartz countertops, and stainless steel appliances coupled with a thoughtful and open floor plan.
$1,099,000

5408 May Fly Street, Bozeman, Montana 59718

5408 May Fly Street, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
0.14Acre
1,796Sqft
Don't miss out on this rare opportunity to own a single family home in Bozeman listed under $700,000 with mountain views! This well laid out, 1796 sq ft Norton Ranch home features 3 generously sized bedrooms, 2.5 bathrooms, large closets, and an open floor plan on the ground floor. The fenced back yard gives plenty of privacy while still getting plenty of sun year round.
$695,000

2400 W Durston Road 40, Bozeman, Montana 59715

2400 W Durston Road 40, Bozeman, Montana 59715

3Bedroom(s)
2Bathroom(s)
1,820Sqft
Appealing Willowbrook condo with updated luxury vinyl plank flooring in kitchen, dining area and living room. Full kitchen appliance package plus a washer and dryer. Gas fireplace serves dining and living room areas. Large east facing patio for enjoyment in the summer. First floor master with double closets. The two bedrooms on the second floor share a full bath. Two car garage.
$539,000

743 Loxley Drive, Bozeman, Montana 59718

743 Loxley Drive, Bozeman, Montana 59718

5Bedroom(s)
2Bathroom(s)
0.19Acre
2,348Sqft
Location, main level master and a 3 car tandem garage are just a few of the reasons you have to tour this property for yourself! Vaulted ceilings, five bedrooms, two and half bath with over 2,000 sq ft. this floor plan allows for a variety of options to suit your needs. Directly out the backdoor leads you to a patio with a pergola great for entertaining in the backyard.
$829,900

2526 Maiden Star Lane, Bozeman, Montana 59715

2526 Maiden Star Lane, Bozeman, Montana 59715

3Bedroom(s)
2Bathroom(s)
0.20Acre
2,455Sqft
The Legends home you have been waiting for! 3 bedroom 2 1/2 bath, high end custom built by DK Homes. Fantastic location close to neighborhood trails that link to the M/town trail and Story Mill Park. Minutes to Main Street and Bridger Bowl. This home features an open floor plan showcasing rock fireplace with soaring vaulted ceilings.
$997,000

3801 Renova Lane, Bozeman, Montana 59718

3801 Renova Lane, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
0.14Acre
1,242Sqft
Currently the ONLY single family home in Bozeman city limits under $600,000! This single level three bedroom, two bath home is situated in Oak Springs subdivision, directly across from the neighborhood park and within close proximity to the Gallatin County Regional Park.
$590,000

114 Michael Grove, Bozeman, Montana 59718

114 Michael Grove, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
0.08Acre
1,354Sqft
Looking for a great investment, home for your college students or just a great deal in an increasingly competitive market??? Well, look no further. This townhome is 3 beds, 2 full baths, great back yard ready for your personal touch. Located conveniently to all things Bozeman, this centrally located home gives you access to wherever you need to go.
$449,900

4616 Danube Lane, Bozeman, Montana 59718

4616 Danube Lane, Bozeman, Montana 59718

4Bedroom(s)
3Bathroom(s)
0.42Acre
3,834Sqft
Highly sought after Baxter Meadows West location! If you're looking to be in the heart of Bozeman's energy, look no farther! Conveniently located just blocks from Bozeman schools, the neighborhood park, Bozeman Sports Park, Gallatin Regional Park, Dog Park, pump track & Dinosaur Park...it's a rare find! Situated on just over 0.
$1,359,800
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