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Bozeman Real Estate Rebounds After Covid Closures

by Liz Nitz

 

Wow Bozeman, what a month! No one was sure what would happen to the Bozeman real estate market during and after the Covid closures.  We found out this week that Bozeman real estate rebounded decisively.

 

Where we came from…April

In my April report, we saw the full effect of the Covid restrictions and concerns about what would happen to the market and home values.  Our single family home listings were down by over 50%. Pending sales were down 26.8% over April of 2019 and closed sales were down over 55% over previous year.  Prices however were still increasing.  Our inventory of homes to sell to buyers who were still looking dropped to 1.8 months.  More information on April here: https://movemetomontana.com/2020/04/14/bozeman-and-belgrade-real-estate-trends

 

And then May…Bozeman real estate market rebounds from Covid closures

With Montana starting phase around April 26, the switch flipped and as a result we have a very different picture reflected in our May numbers.  Our listings are still not what they were last year. But they have significantly increased and as reflected in the pending numbers, they were then put under contract pretty quickly.  Closed sales naturally are still running behind last year as that comes from the pended sales from March and April.

 

Where are we headed?

I did an open house over the weekend.  It was very well attended with qualified buyers.  Some were new to the area and some were current residents but wanted to buy property before prices went up even further.  I was amazed at how much energy there was about the growth of Bozeman and effect on housing supply and pricing.  Bozeman is voting tonight on whether to annex an area in South Bozeman.  While not many people are happy about development in that area, we are going to desperately need more housing for all of the people who want to live here. https://www.bozemandailychronicle.com/news/city-commission-to-vote-on-annexation-zoning-for-south-bozeman-development/article_bc701bb0-b9ae-5541-bb6f-57546483cd63.html?utm_source=dlvr.it&utm_medium=facebook&fbclid=IwAR37M0klgSxFLxkGvVpDr8XIRV0PwoVv7-nEtOG8hd7H46K6rHT9wpGQ6rA

 

Please reach out to me to learn more about the market or the value of your home!

406 499 4218 or liz@windermere.com

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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.
$599,000

1639 S Black Avenue, Bozeman, Montana 59715, Bozeman, Montana 59715

1639 S Black Avenue, Bozeman, Montana 59715, Bozeman, Montana 59715

2Bedroom(s)
2Bathroom(s)
0.08Acre
1,507Sqft
Welcome to the Woodbrook Townhomes! This single level, end unit with 2 bedrooms and 2 bathrooms is absolutely charming. It has been updated throughout with a modern flair – you’ll feel like it’s practically new! The kitchen has been fully remodeled to include new cabinets, woodblock countertops and a decorative tile backsplash.
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165 Blossom Way, Bozeman, Montana 59715, Bozeman, Montana 59715

165 Blossom Way, Bozeman, Montana 59715, Bozeman, Montana 59715

4Bedroom(s)
3Bathroom(s)
1.12Acre
3,220Sqft
Imagine your dream home coming to life in South Bozeman, crafted by Lohss Construction and designed by NVS Architects. This 4-bedroom, 3.5-bath residence will combine mountain-modern style with easy access to Main Street and nearby trails. The main-floor primary suite offers a peaceful retreat with sweeping natural views, while the open layout invites light and movement through every room.
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510 Greenway Ave, Bozeman, Montana 59718, Bozeman, Montana 59718

510 Greenway Ave, Bozeman, Montana 59718, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
0.11Sqft
1,450Sqft
Sunny and cozy one-level townhome with in-floor radiant heat located off of Durston, just West of 19th Ave. This beautifully updated southern-exposure townhouse is centrally located to everything Bozeman. Featuring 3 bedrooms, 2 bathrooms, vaulted open-concept living space, newly installed LVP and carpeting, new interior doors and hardware, new base and case trim, and freshly painted walls.
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1214 W Koch, Bozeman, Montana 59715, Bozeman, Montana 59715

1214 W Koch, Bozeman, Montana 59715, Bozeman, Montana 59715

2Bedroom(s)
1Bathroom(s)
0.15Sqft
1,474Sqft
You'll appreciate the convenient location of this partially renovated home, just a stone's throw from everything Bozeman has to offer, including MSU and downtown. Nestled on a spacious lot, it features raised garden beds, mature landscaping, stunning flowers, and a delightful, eclectic fully fenced backyard.
$650,000

217 W Beall Street B, Bozeman, Montana 59715, Bozeman, Montana 59715

217 W Beall Street B, Bozeman, Montana 59715, Bozeman, Montana 59715

3Bedroom(s)
2Bathroom(s)
2,876Sqft
Tucked in the heart of downtown Bozeman, the North 3rd Residences are a true embodiment of exceptional design and craftsmanship. Crafted by renowned Minarik Architecture, these luxury spaces offer a modern, urban lifestyle defined by unparalleled quality.
$2,280,000
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