What to Expect in Bozeman Real Estate in 2021

by Liz Nitz

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 in Bozeman real estate in 2021.

 

If you’re a seller:

  • Buyers are still picky and they are not buying just to buy. Consider updates and professional staging if your home is dated and looking like the 1990s.
  • Buyers are looking for homes that fit their lives in the new normal. Think: plenty of outdoor space; dedicated rooms for remote work/home schooling/exercise; and a well-appointed kitchen with plenty of storage space.

 

If you’re a buyer:

  • Bidding wars are a real thing right now, so think carefully about the price you want to pay.
  • Be prepared to make concessions on items like inspections, earnest money and closing dates, as well as letting the seller rent back for a while if they need to look for a new home.

 

If you’re looking for affordability: Consider surrounding towns like BelgradeThree Forks and Livingston.

  • Belgrade: Located 11 miles from Bozeman; The median sales price increased from *$319,900 in 2019 to $341,400 in 2020.
  • Three Forks: Located 29 miles from Bozeman; The median sales price increased from *$282,500 in 2019 to $311,250 in 2020.
  • Livingston: Located 26 miles from Bozeman; The median sales price increased from *$284,000 in 2019 to $300,000 in 2020.

(*Source: Big Sky Country MLS 2020 Annual Report)

 

This previous post talks about what happened to Bozeman real estate in 2020. Keep in mind that whatever you might be hearing or reading on social media, real estate agents did not create the current housing situation in Bozeman. The low interest rates mixed with the resulting demand for homes in places like Bozeman during the pandemic and the hesitancy of homeowners to put homes on the market with all the uncertainty were factors that were completely out of any agent’s purview.

If you’re interested in learning more about real estate in Bozeman and surrounding areas in Montana, feel free to contact me at liz@windermere.com.

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New Real Estate Trends in Bozeman

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

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The following homes listed below were just listed in the last 7 days. This seller’s market is hot so we keep a close eye on the latest inventory. Subscribe below for instant updates of your ideal criteria.

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969 Nelson, Bozeman, Montana 59718

969 Nelson, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
2.10Acre
2,379Sqft
Sitting on 2.1 acres with NO zoning and NO covenants this home is ready for its next adventure. This single level home is 2379 SF with 3 bedrooms and 2 full baths. Stunning views of the Bridger Mountains and room for your business or farm animals! There are several out buildings already in place including a barn, shop, detatched garage and garden shed.
$1,200,000

645 Baxter E, Bozeman, Montana 59718

645 Baxter E, Bozeman, Montana 59718

3Bedroom(s)
1Bathroom(s)
20Acre
1,157Sqft
Almost unlimited possibilities for this prime investment and development opportunity! This property is 20 acres of flat buildable land with a 5000sqft shop and 900sqft residences which can stay or be cleared. It's conveniently located off Baxter Ln. near Jackrabbit Ln. is right in the center of the valley and the current development trends.
$6,500,000

621 E Lamme, Bozeman, Montana 59715

621 E Lamme, Bozeman, Montana 59715

1Bedroom(s)
1Bathroom(s)
0.12Acre
640Sqft
Can't beat this location! Historic home for sale in downtown Bozeman. One bedroom, 2 bath house lovingly maintained by owner. This home has been in the same family since it was built in 1898. Painted inside and out within the past two years, newer fridge, washer and dryer, windows, doors, and plumbing. Lawn mower also conveys.
$599,000

3575 Stucky Road, Bozeman, Montana 59718

3575 Stucky Road, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
10Acre
1,683Sqft
One Of A Kind Property! 10 Acres!! This Unique Property Offers A Little Bit Of Everything. One Of The Best Locations You Will Ever Find! Many Options. Horses Welcome! Additional Dwelling Unit Already In Place. Have You Ever Wanted Two Shops? Look No Further! The Home Was Remolded in 1992 And Has Hardwood Floors Throughout The First Floor. Lots Of Elbow Room On Main Floor As Well.
$1,800,000

662 Coffee Creek, Bozeman, Montana 59715

662 Coffee Creek, Bozeman, Montana 59715

5Bedroom(s)
2Bathroom(s)
20Acre
5,478Sqft
Spectacular views from this custom log home on 20 acres offers the classic Montana lifestyle. Iconic touches from national park lodges have been used throughout this “Parkitecture” design featuring massive timber beams, a soaring two-story fireplace, and tremendous mountain views.
$1,865,000

1806 W Durston Rd, Bozeman, Montana 59715

1806 W Durston Rd, Bozeman, Montana 59715

5Bedroom(s)
2Bathroom(s)
0.17Acre
2,320Sqft
Here is your chance to spring into action on that investment property that you have been searching for. Two separate living quarters for possible in-law suite. Prime Bozeman location with great access to Montana State University, shopping, and Downtown Bozeman. Not to mention the ability to take advantage of Bridger Bowl & Big Sky Ski Resort as winter approaches us.
$697,000

2940 W Villard 1F, Bozeman, Montana 59715

2940 W Villard 1F, Bozeman, Montana 59715

2Bedroom(s)
2Bathroom(s)
1,020Sqft
Investor buyers! Due to owner occupied ratios & informal HOA this is a cash purchase. This Meadow Vista condo is an upstairs end unit with mountain views. Light & bright with the many windows. Open floor plan with 2 bedrooms and 2 baths. One bedroom is a master with full bath. The second bedroom has the full bath across the hall. Wood floors through out. Kitchen with white appliances and cabinets.
$339,000
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