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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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.
$7,600,000

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.
$1,095,000

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.
$715,000

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.
$585,000

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.
$2,250,000

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.
$495,000

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

1121 N Cedarview Drive, Bozeman, Montana 59715, Bozeman, Montana 59715

1121 N Cedarview Drive, Bozeman, Montana 59715, Bozeman, Montana 59715

5Bedroom(s)
1Bathroom(s)
0.21Sqft
2,496Sqft
This charming and wonderfully maintained 5-bedroom, 3-bathroom home is ideally positioned near vibrant downtown Bozeman, the hospital, and Montana State University. This inviting property offers an open first floor layout flooded with natural light. You will find the primary suite, a full guest bath, and guest bedroom on the first floor, offering the convenience of one level living.
$725,000
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