Listing a Home For Sale in Bozeman

Let’s start with the real estate market

It’s no secret that the real estate market has shifted. Mortgage rates skyrocketed in early 2022, quickly slowing the “Bozeman Boom” that was a result of an influx of people moving to Montana due to the pandemic combined with a low inventory of homes on the market. Since then, mortgage rates have remained high which has cooled buyer demand. 

Homes that came on the market in 2023 spent an average of 29 days on the market compared to just 3 days in the year prior. In 2023, home sellers received an average of 93.3% of the price they asked for their home, compared to 98.5% the year before. 

But it’s not all bad news for those who are considering selling this year. Mortgage rates have started to dip, albeit slightly, and buyers are returning to the market. The median sales price of a home in the Bozeman area continues to stay steady, and as of February 2024, sellers are getting an average of 95.8% of their asking price.

If you are thinking of listing your home in the Bozeman area, here’s what to expect

While there are fewer buyers in the pool, the inventory of homes on the market in the Bozeman area is still very low. As of February 2024, the monthly supply of inventory in Bozeman was just 3.63 months. This is the number of months it would take to sell the available inventory at the current sales rate. A supply of inventory between 5-7 months signals a market that is balanced between buyer demand and available inventory. 

While the average days a home spent on the market was up significantly between 2022 and 2023, homes are still selling faster than they did before the pandemic. There is still plenty of demand for real estate in the Bozeman area. If your property is priced and marketed correctly, chances are you will have no problem getting it sold.

Finding out what your home is worth now

With all of that in mind, your next question is probably “What is my home worth now?”. While you may have looked at the Zestimate for your home on Zillow, it’s important to know that a Zestimate does not take into account any upgrades or improvements you’ve made on the home and is nothing more than, well, an estimate. The best way to find out what your home is worth in the current market is to talk to someone who understands the local market and who can take into account the unique qualities of your property. 

This tool allows you to get a low, medium, and high estimate of your home’s value based on what is currently on the market. It then gives you the option to submit your home’s information to our company so that we can have someone on our team give you an accurate assessment of what your home is worth now. Just a reminder, we will never sell your information or share it with anyone outside of our office.

Listing your home on the market

Did you know that there are more than 1,000 real estate agents in the Bozeman area? Chances are you know a handful of agents yourself, who would probably love to sell your property for you. But who you choose to work with to sell your home is such an important decision. How your home is presented when it is first listed on the market will impact how many people come to look at your property and ultimately how much you can sell for.  

You want to find a company that knows exactly how to market your property and how to do it well. At the very least your home should have professional photography when it is listed on the market. Bonus points for 3D home tours, drone photos, and videography. If you would like to learn more about how our company can sell your home, click here.

Do you have questions?

We are happy to help in any way that we can! Click here to get in touch with us.