What happened in Bozeman real estate in the summer of 2020?
2020 was the summer where Covid raged across the United States, shutting down major cities and even some entire states. Yet here in Bozeman, we saw an influx of out of town buyers. What were the driving factors behind this influx?
Bozeman Is a Great Place to Work From Home
*According to online brokerage Redfin, page views of homes in towns with fewer than 50,000 residents were up 87% year over year in May. Why? The pandemic has created more work-from-home opportunities. As a result, employees are eager for homes in small towns that have more affordable options, room to breathe, and a community-focused quality of life that’s hard to find in big cities.
Relative Affordability and a Strong Housing Market
Bozeman’s housing market rebounded quite nicely in May after reopening from Covid-19 closures. Currently, the median home price in Bozeman in March 2020 was $485,000; outside the city limits it was $547,000. But as *Bozeman’s population has grown by nearly 20% in the last five years, there’s definite buzz about its continued growth and what that means for housing supply and prices.
High Quality of Life
Another reason why Bozeman saw an influx of out of town buyers in summer of 2020 was due to Bozeman’s reputation as a true gem when it comes to active amenities for its lucky residents.
We are lucky enough to have:
Bridger Bowl: This local, family-friendly ski resort is just 16 miles away. There are two free shuttles from Montana State University and the Gallatin Fairgrounds to/from Bridger Bowl.
Main Street to Mountains: This amazing trail system connects Bozeman to the mountains and spans more than 80 miles through public and private land. Great for walking, hiking, biking, birdwatching, and just taking in some beautiful, natural scenery.
Bridger Ski Foundation: This community ski organization runs programs for all ages in Nordic, Alpine, and Freestyle skiing. They also groom an incredible network of community trails for the public in Bozeman.
Ease of Transportation
Getting around Bozeman is pretty stress-free, and scenic too!
*The average one-way commute time is 14.6 minutes; compared to the national average of 26.4 minutes.
Hop on your bike or walk along the popular Galligator commuter trail, which connects Montana State University to Downtown Bozeman. Or hit the many designated bike lanes throughout the town.
Streamline Bus: The area’s public bus offers FREE service from Bozeman, Belgrade, Four Corners, and Livingston, with seasonal service to Bridger Bowl.
For more information about the Bozeman real estate and living in Bozeman, check my website and blog at https://movemetomontana.com/
*Sources
Prospera Business Network: 2020 Economic Profile of Gallatin and Park Counties, Montana
redfin.com
bestplaces.net
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