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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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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