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Intro to Bozeman

Bozeman Real Estate Statistics

by Liz Nitz

Presenting Bozeman Real Estate Statistics for the first two months of 2020!  And if anyone thought that we were going to have a slow winter in real estate, they would be incorrect.

 

Let’s start off with Median Sales Prices.

As seen below, we can see that all property type prices are off to fast start  with a roughly 8% increase over last year. To put things in greater perspective, the February numbers of 2018 and 2019 for median sales prices were : 418,000 (2018) 456,375 (2019) for Single Family Home, 253,000 (2018) 289,900(2019) for Condos, 305,000 (2018) 334,950 ((2019) for Townhomes.

Bozeman housing market median sales price by property type

 

Days on Market

To fill in our view of the real estate market in Bozeman, let’s take a look at how quickly inventory is moving off of the market or being sold.  We typically measure this by the absorption rate which we call Days on Market.

Bozeman housing market median days on market

 

Here we see that Single Family DOM is down 16.7% or has gone from 24 days last year to 20 days that year, reflecting healthy demand that builders are not quite keeping pace with.  There is better news with Condos and Townhomes as those Days on Market have actually increased a bit.

 

How much supply is there?

To finish rounding out our view of Bozeman Real Estate Statistics, let’s look at how many months of supply we have at the moment.  Again here we see a modestly declining inventory of Single Family Homes with increasing inventory of Townhomes and Condos.

Bozeman housing median supply of properties for sale in Bozeman

 

Coronavirus

One note on the coronavirus.  Currently the coronavirus has not impacted the Bozeman real estate market except to drop home interest rates precipitously so that they are at lowest levels in 50 years!  This certainly will rachet up demand as potential buyers look to take advantage of lower interest rates to afford more house or have a lower mortgage payment.  Keep an eye on my blog as the picture becomes more clear and the medium and longer terms effect come into focus.  For more on interest rates, try this website.  http://www.mortgagenewsdaily.com/

These numbers in this report reflect sold pricing. Remember that Montana is a nondisclosure state so only licensed real estate professionals can access accurate data.  If you would like to dive deeper into market trends or specific price categories, please reach out and let’s have a conversation!

I hope you found this helpful – please pass it on and check out my other blog posts at MoveMeToMontana.com.

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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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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

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

102 N Chouteau Avenue, Bozeman, Montana 59718

102 N Chouteau Avenue, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
0.23Acre
1,920Sqft
This home is calling you! It's centrally located with great access to all things 'Bozeman'. This is where neighbors come over for a 'backyard movie night' and sidewalks are filled with chalk drawings and people chatting. The outside has very nice curb appeal. The lot has plenty of mature trees and garden boxes. AND, how about your own water well for lawn and garden irrigation.
$699,000

3124 Augusta Drive, Bozeman, Montana 59715

3124 Augusta Drive, Bozeman, Montana 59715

3Bedroom(s)
2Bathroom(s)
0.25Acre
1,948Sqft
Located between downtown and the Bridger Mountains across the street from the Bridger Creek golf course, this single level home backing up to open space boasts an open floor plan and vaulted ceilings. The spacious living room features a gas fireplace and large slider out to your back deck to enjoy the views.
$850,000

986 Cassandra Ln Unit A, Bozeman, Montana 59718

986 Cassandra Ln Unit A, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,769Sqft
BACKS TO OPEN SPACE! This condo feels more spacious due to its ideal location. Easy access to trails, parks, schools, and shops! Unit has 3 bedrooms and 2.5 baths and a 1 car garage.
$610,000

120 Kimball B, Bozeman, Montana 59718

120 Kimball B, Bozeman, Montana 59718

4Bedroom(s)
2Bathroom(s)
2,433Sqft
This charming 4 bedroom, nearly 2500sq/ft, condo is not one to miss. The beautiful kitchen features granite counter tops, and plenty of entertaining space. The bonus room on the east side of the condo is a wonderful addition to the living space of this home. The 2-car garage has plenty of space for all your toys.
$695,000

3155 Cattail A, Bozeman, Montana 59718

3155 Cattail A, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,535Sqft
Great end unit in duplex building, with all new paint and carpet. Located in an established neighborhood with open space, trails, parks, ponds, and views. This place is move-in ready and awaiting your personal touches. Great light with lots of windows in this open main level floorplan with half bath on the main level.
$499,000
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135 E Main St.

Bozeman, MT 59715

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