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Intro to Bozeman

New Real Estate Trends in Bozeman

by Liz Nitz

New Real Estate Trends in Bozeman

The pandemic and remote work are resulting in new real estate trends.

We saw a big influx of out-of-town buyers in 2020 that was mainly fueled by the pandemic. I think what is driving home-buying decisions is interesting and we are seeing some new real estate trends in Bozeman.

As remote work becomes more of a permanent fixture in the workplace, I think we will continue to see new people coming into our state. (According to a survey done by Redfin in November and December 2020, 34% of respondents have already moved to a different city or area and another 33% would like to.)

 

New Real Estate Trends in Bozeman

People are buying more for lifestyle The lifestyle buyers envision for themselves is very location-oriented right now. Bozeman is an ideal town for many reasons: low population, plenty of outdoor activities, family-friendly community, great schools, etc. Whether companies let the people stay remote is tied to their productivity. I have heard many employers say they have been happy with productivity thus far.

Seller and buyer fatigue It’s a seller’s market in Bozeman right now. And many sellers are getting overwhelmed with multiple offers at once. On the flip side is buyer fatigue. The market is so heated and buyers are getting tired of multiple offers that they don’t win, so they just give up.

More sight-unseen purchases The competitiveness of Bozeman’s market is resulting in homes being bought sigh-unseen and more cash offers, as well.

 

Housing with remote work in mind

  • Live/work: There are already a few live/work spaces in Bozeman and more coming down the pipeline. These will continue to gain traction with buyers who are looking for a totally separate workspace where they can set up an office. The great thing about live/work housing is that it is zoned for commercial use and has separate entrances for living and working spaces. Live/work housing gives you the option of having multiple people in the office with you or you could rent out the commercial space as an income generator.
  • Future of home design: The pandemic brought on major paradigm shifts in what people want in their homes. The must-haves are now a dedicated room for a home office; a nice outdoor space for gathering with friends and neighbors; and a bonus room for the kids, working out, or just to escape family members. It will be interesting to see the future of home design now that many people will be working remotely indefinitely. There is a great article in The Atlantic about this.

iBuyers

iBuyers This is a fairly new way to buy/sell homes and I’m not sure what kind of presence they will have in Bozeman.  iBuyers are online platforms that buy homes directly from a seller in a simple online transaction. Formula is generally that the firm will pay 95% market value for your home. And charge some additional fee but usually not as much as a real estate agent.  The process is pretty streamlined but the value of your home is dependent upon a computer algorithm and doesn’t take anything special about your home into account.

The buying process can be fast. But there will not be a personal service that a real estate agent provides to help. You navigate all the issues that come with closing a large financial transaction.  Established real estate players like Zillow and Redfin have gotten into the game. And it’s still to be determined how well consumers will embrace this trend. Check out this link for more info.

Our housing market is a whirlwind right now. If you have any questions on new real estate trends in Bozeman, feel free to contact me at liz@windermere.com.

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What to Expect in Bozeman Real Estate in 2021

What to Expect in Bozeman Real Estate in 2021

Bozeman real estate in 2021 is currently in a seller’s market. From 2019 to 2020, the median sales price increased from *$399,900 to $420,000 and inventory dipped to 0.4 months supply. My prediction is that it’s not going to get any better or less competitive

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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

2316 Gallatin Green Boulevard 16, Bozeman, Montana 59718

2316 Gallatin Green Boulevard 16, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,581Sqft
Great modern condo in a prime Bozeman location. Condo is 3 bed 2.5 bath with 1580 square feet with a two car attached garage. Property features gray cabinets, white hard surface countertops, and stainless steel appliances. This is the only unit in the complex that has a bedroom on the main floor. It sits on the south corner with great natural light.
$449,000

2310 Gallatin Green Boulevard 14, Bozeman, Montana 59718

2310 Gallatin Green Boulevard 14, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,540Sqft
Beautiful 3 bed 2.5 bath 1540 square foot condo with an attached 2 car garage. This unit features white cabinets, gray hard surface countertops, stainless steel appliances for a great modern feel. This unit backs to the walking trail and open space with spectacular views of the Bridger Mountains. Wonderful location close to parks, gym, Costco, Target, etc.
$465,000

2320 Gallatin Green Boulevard 23, Bozeman, Montana 59718

2320 Gallatin Green Boulevard 23, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,540Sqft
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.
$472,500

2320 Gallatin Green Boulevard 22, Bozeman, Montana 59718

2320 Gallatin Green Boulevard 22, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,540Sqft
Great unit in the heart of Bozeman. With this location you will have easy access to shopping, schools, and other amenities. Property features 3 bedrooms, 2.5 baths with a two car attached garage. Nice finishes include stainless appliances, hard surface counters, soft close cabinets and laminate floors. These units back to the trail system and parks.
$465,000

2320 Gallatin Green Boulevard 21, Bozeman, Montana 59718

2320 Gallatin Green Boulevard 21, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,540Sqft
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 schools, parks, gym, Costco, Target, etc. This unit backs to the trail system on both sides for great privacy.
$472,500

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
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Range Properties

135 E Main St.

Bozeman, MT 59715

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