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 [email protected].

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917 N 15th Avenue, Bozeman, Montana 59715, Bozeman, Montana 59715

917 N 15th Avenue, Bozeman, Montana 59715, Bozeman, Montana 59715

3Bedroom(s)
2Bathroom(s)
0.05Sqft
1,712Sqft
Welcome to 917 N 15th Avenue — a beautifully maintained 3-bedroom, 2.5-bathroom townhouse located in one of Bozeman's most convenient and vibrant neighborhoods. Offering 1,712 square feet of thoughtfully designed living space, this home strikes the perfect balance between comfort, functionality, and Montana charm.
$515,000

1952 Little Cottage Lane, Bozeman, Montana 59715, Bozeman, Montana 597

1952 Little Cottage Lane, Bozeman, Montana 59715, Bozeman, Montana 59715

3Bedroom(s)
2Bathroom(s)
1,586Sqft
Welcome to easy living in the heart of Bozeman. This stand-alone, fully furnished condo lives like a single-family home—without the yardwork or snow removal. Just a mile from downtown, you're minutes from everything Bozeman has to offer while still enjoying peaceful views of open fields and stunning mountain ranges.
$899,000

2391 Mount Ellis Road, Bozeman, Montana 59715, Bozeman, Montana 59715

2391 Mount Ellis Road, Bozeman, Montana 59715, Bozeman, Montana 59715

6Bedroom(s)
3Bathroom(s)
122Acre
7,632Sqft
Set against the sweeping Gallatin Range and backdrop of Mount Ellis, Silver Brand Ranch is an end-of-the-road legacy property less than 8± miles from historic downtown Bozeman.
$9,495,000

14200 Flaming Arrow Road, Bozeman, Montana 59715, Bozeman, Montana 597

14200 Flaming Arrow Road, Bozeman, Montana 59715, Bozeman, Montana 59715

5Bedroom(s)
3Bathroom(s)
20.21Sqft
4,497Sqft
Nestled in the heart of Bridger Canyon, 20 minutes to downtown Bozeman, this Montana mountain log home offers a blend of privacy, craftsmanship, and natural beauty. This 4,498 square foot residence sits on 20.21 acres of Montana wilderness.
$3,900,000

5525 May Fly Street, Bozeman, Montana 59718, Bozeman, Montana 59718

5525 May Fly Street, Bozeman, Montana 59718, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
0.13Sqft
1,542Sqft
We’re not saying this house is a personality test… but if you don't like stairs and want some low maintenance backyard freedom- it’s probably your soulmate. 5525 May Fly Street is a single-level stunner that checks all the boxes and then some. Large primary suite? Check. Storage space for spontaneous Costco hauls and 17 snacks? Also check.
$655,000

17 Hoffman Drive, Bozeman, Montana 59715, Bozeman, Montana 59715

17 Hoffman Drive, Bozeman, Montana 59715, Bozeman, Montana 59715

2Bedroom(s)
2Bathroom(s)
0.10Acre
1,836Sqft
Beautifully maintained, single-level townhome in the SW corner of the desirable Woodbrook community. Thoughtfully designed floorplan that’s spacious, open and inviting, with abundant southern exposure that floods the living spaces with natural light. The living room features a charming corner brick fireplace that has been converted to gas.
$615,000

907 Jessie Way, Bozeman, Montana 59715, Bozeman, Montana 59715

907 Jessie Way, Bozeman, Montana 59715, Bozeman, Montana 59715

4Bedroom(s)
4Bathroom(s)
0.14Acre
3,416Sqft
Discover a rare opportunity to live in the heart of Bozeman, tucked away in the private, treehouse-like setting of this gorgeous Walton Place home. This architecturally designed home, proudly featured in the 2007 Parade of Homes, showcases four levels of custom craftsmanship and thoughtful design.
$998,000

340 Kermodi Street, Bozeman, Montana 59715, Bozeman, Montana 59715

340 Kermodi Street, Bozeman, Montana 59715, Bozeman, Montana 59715

5Bedroom(s)
2Bathroom(s)
1.01Sqft
3,630Sqft
Welcome to 340 Kermodi Street – Your Gateway to Bozeman Living! Nestled in one of Bozeman’s most desirable neighborhoods, 340 Kermodi Street, a 2013 Parade Home, offers the perfect blend of comfort, style, and Montana’s breathtaking natural beauty.
$1,630,000

824 Matheson Way, Bozeman, Montana 59715, Bozeman, Montana 59715

824 Matheson Way, Bozeman, Montana 59715, Bozeman, Montana 59715

3Bedroom(s)
2Bathroom(s)
0.08Acre
1,999Sqft
Well cared for townhome. Three Bedroom/3 Bathroom. Single car attached garage. Main floor has one bedroom, 3/4 bathroom, kitchen, dining area, Livingroom with gas fireplace, tall ceiling with ceiling fan. Second floor has 2 bedrooms, 2 full bathrooms, a large flex room, laundry closet and overlooks Livingroom. Come and enjoy your new home.
$575,000
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