Our Bozeman Real Estate Market Report includes data for both the Bozeman and Big Sky real estate markets. Strong buyer demand in both the Bozeman and Big Sky Markets, Low mortgage rates, and continued inventory constraints are the primary stories in the market.
Bozeman Market Update
All Property Types
Big Sky Market Update
All Property Types
Bozeman Market Update
Single Family
Big Sky Market Update
Single Family
Bozeman Market Update
Condos & Townhomes
Big Sky Market Update
Condos & Townhomes
Bozeman Real Estate Market Summary
Sales History For Bozeman Areas 1 & 2 Single Family Homes
| YEAR | DAYS ON MARKET
AVG
MED
|
SOLD PRICE
HIGH
LOW
AVG
MED
|
TOTAL SOLD
NUMBER
DOLLARS
|
|||||
| 2018 | 80 | 25 | $4,500,000 | $125,000 | $552,656 | $456,375 | 1018 | $562,603,483 |
| 2017 | 81 | 31 | $6,250,000 | $190,000 | $501,639 | $409,000 | 999 | $501,137,503 |
| 2016 | 69 | 25 | $4,495,000 | $25,900 | $396,597 | $334,283 | 1,624 | $644,074,556 |
| 2015 | 97 | 39 | $6,950,000 | $174,900 | $453,713 | $360,000 | 1,025 | $465,055,994 |
| 2014 | 83 | 41 | $4,500,000 | $75,000 | $409,334 | $325,000 | 905 | $370,447,669 |
| 2013 | 83 | 34 | $4,600,000 | $129,000 | $367,361 | $299,000 | 870 | $319,604,162 |
| 2012 | 92 | 47 | $7,000,000 | $50,000 | $339,319 | $279,000 | 745 | $252,793,226 |
| 2011 | 100 | 55 | $2,400,000 | $68,000 | $313,504 | $252,500 | 607 | $190,297,435 |
| 2010 | 108 | 65 | $4,950,000 | $105,000 | $335,989 | $261,710 | 538 | $180,762,192 |
| 2009 | 113 | 72 | $5,500,000 | $152,000 | $331,960 | $270,000 | 462 | $153,365,630 |
| 2008 | 106 | 72 | $6,750,000 | $138,000 | $412,110 | $308,850 | 502 | $206,879,305 |
| 2007 | 82 | 58 | $2,500,000 | $150,000 | $420,016 | $327,000 | 557 | $233,949,212 |
| 2006 | 62 | 38 | $3,050,000 | $150,000 | $430,917 | $339,900 | 653 | $281,389,395 |
| 2005 | 61 | 30 | $4,000,000 | $109,000 | $360,603 | $299,450 | 822 | $296,416,386 |
| 2004 | 64 | 31 | $1,900,000 | $65,000 | $307,836 | $256,750 | 736 | $226,567,374 |
* Bozeman Areas 1 & 2 Single Family Homes
[ms_dropcap color=”red” boxed=”no” boxed_radius=”8px” class=”” id=””]2020[/ms_dropcap] 2020 is another year of strong buyer demand and limited inventory for Single Family Homes in Bozeman. Prices for Single Family Homes in Bozeman City limits increased 17.39%. Prices for Single Family Homes in the Greater Bozeman Area increased 23.65%.
[ms_dropcap color=”red” boxed=”no” boxed_radius=”8px” class=”” id=””]2019[/ms_dropcap] 2019 is showing strong demand for Single Family Homes in Bozeman. Despite some markets experiencing declines in home prices, the market in Bozeman is still experiencing price increases. Months Supply Of Homes For Sale remains extremely low, hovering just over 3 months supply. 6 Months Supply Of Homes For Sale is considered a balanced market.
[ms_dropcap color=”red” boxed=”no” boxed_radius=”8px” class=”” id=””]2018[/ms_dropcap] 2018 continued the trends of limited inventory and increased prices. Demand remained strong resulting in Months Supply Of Inventory dropping to just over 3 months. Median Price increased to roughly $425,000 and Median Price Per Square Foot for Single Family Homes in Bozeman increased to over $200.
[ms_dropcap color=”red” boxed=”no” boxed_radius=”8px” class=”” id=””]2017[/ms_dropcap] 2017 had a significant decline in homes available for sale but demand for single family homes in Bozeman remained strong. The combination of high demand and low inventory resulted in the Months Supply Of Inventory dropping to approximately 3.5 for the year. It also resulted in increases in Median Sale Price, and an increase in Price Per Square Foot. Median Price Per Square Foot for Single Family Homes in Bozeman grew to just below $180.
[ms_dropcap color=”red” boxed=”no” boxed_radius=”8px” class=”” id=””]2016[/ms_dropcap] 2016 marked a highpoint in terms of both units sold and dollar volume for single family homes sold in Bozeman city limits and the greater Bozeman area. Homes available for sale(measured as Months Supply Of Inventory) continued to trend down in 2016 average around 4.5 Months Supply Of Inventory. Median Days On Market for Single Family Homes was approximately 45 days and Median Price Per Square Foot surpassed $160 in 2016.
[ms_dropcap color=”red” boxed=”no” boxed_radius=”8px” class=”” id=””]2015[/ms_dropcap] 2015 had continued shortages of affordable inventory and high buyer demand. The supply of single family homes within Bozeman showed a small but welcome increase. At the end of 2015, there were 126 active residential properties listed for sale compared to 112 in 2014. Based on current supply and the number of homes sold in a given price range in the prior 12 months, there is no more than a 4.5 month supply of inventory in any of the price ranges reported under $500,000. (see Market Absorption Rate graph)
Within Bozeman city limits single family home sales increased 6%. There were 556 single family homes sold in 2015, compared to 523 in 2014. The average sales price for single family homes showed significant growth with a 15% increase to $382,033 in 2015 from $331,817 in 2014. The median sales price was $339,000 for single family homes, up 13% from $299,900 in 2014 and $205,500 for condo/townhomes, up 4% from the $197,000 of 2014.
There were 404 condo/town homes sold in 2015, compared to 399 sales in 2014. Strong condo demand was fueled by investors, with demand substantially exceeding available inventory in the market.
Category : Real Estate