Belgrade Montana Real Estate Market - Bozeman Real Estate Group

Belgrade Market Report

SELECT A CITY:
Bozeman Big Sky Belgrade Livingston Three Forks Manhattan

Is Belgrade, MT a buyer’s
or seller’s market?

This snapshot of Belgrade's housing market is based on the months supply of inventory and is calculated by dividing the number of homes on the market by the number of homes that have sold in the last month.

A BUYERS
MARKET
A market moves into one that favors buyers when the months supply of inventory is more than 7 months.
NEUTRAL
MARKET
A market is considered neutral when the months supply of inventory is between 5-7 months of inventory.
A SELLERS
MARKET
A market is one that favors sellers when the months supply of inventory is less than 6 months.
Needle

Overview

Belgrade's real estate market has been favoring sellers for several years. As the real estate market cools down, we are starting to see the real estate market shift towards a more neutral market.

How much do homes cost
in Belgrade, MT?

The median sold price includes single-family homes, condos and townhomes

$572,450

(+7.81%) Year Over Year Change

Overview

The median sales price in Belgrade saw a slight increase in November.

Data provided by the Big Sky Country MLS

What do different types of homes cost?

This is the median sales price for each home type sold in Belgrade. The median sold price is based on monthly data.

Type November 2023 November 2024 Year Over Year Change

SINGLE FAMILY

$547,075

$619,250

13%

TOWNHOME

$531,000

$500,000

6%

CONDO

$407,500

$370,000

9%

Data provided by the Big Sky Country MLS

What do homes cost in other areas?

This is the median price for which single-family homes, condos, and townhomes were sold in the specified area. This number is based on monthly data.

City November 2023 November 2024 Year Over Year Change

Bozeman

$715,000

$810,000

13%

Big Sky

$1,495,000

$2,150,000

44%

Livingston

$509,000

$405,750

20%

Three Forks

$665,500

$600,138

10%

Manhattan

$761,000

$885,000

16%

Data provided by the Big Sky Country MLS

How many homes have sold in Belgrade, MT?

This is the total number of residential properties (single-family homes, condos, and townhomes) sold in Belgrade this month.

November 2023

12

November 2024

32

Year Over Year Change

167%

Data provided by the Big Sky Country MLS

How Many Homes Sold Over the
Asking Price in Belgrade, MT?

This is calculating how many homes sold (including single-family, condo, and townhomes in the specified area) for over the original asking price vs under the original asking price in the past month.

Overview

The majority of properties in Belgrade are currently going for the asking price or under-asking price

22 Homes Were Sold
Under Asking Price

6 Homes Were Sold
At Asking Price

4 Homes Were Sold
Over Asking Price

Data provided by the Big Sky Country MLS

What Percentage of the Listing
Price Are Sellers Getting?

This number shows what percent of the listing price sellers are getting in the Belgrade market. While this number has been decreasing, it is still well above 90%.

94.5%

-2% Year Over Year Change

Data provided by the Big Sky Country MLS

How long does a home spend on the market?

This is the median number of days between when a home is listed and when it goes under contract.

November 23

51

November 24

59

Year Over Year Change

16%

Data provided by the Big Sky Country MLS

Frequently asked questions

Where does the data on this page come from?

Our data comes from Domus Analytics which is a program that integrates with the Big Sky Country MLS (multiple listing service) system. This is the system used by all licensed real estate agents in our area. Montana is a non-disclosure state which means that the sold price of a home cannot be posted publicly and is only available to members of the MLS. Because this data comes directly from the MLS, this is the most accurate data available.

Why is your data sometimes different than what is on Redfin or Zillow?

Every website approaches its data differently. For example, Redfin reports a Days on Market that compares the number of days between the listing date and the sale date whereas the numbers on this page calculate the number of days between when a property is listed and the contract date. Zillow calculates a Days on Market for all the properties listed on Zillow which includes for sale by owner properties.

Why do the numbers fluctuate so much in some reports?

Many of the areas we report on are small in size, and limited in inventory. When the inventory is so low, a slight change can have a big impact on the monthly numbers. For example, if a new development at a higher price point closes several properties in one month that can have a big impact on the median price for the month.

When does the market report update?

This market report is updated between the 3rd-6th of every month. Be sure to bookmark this page or sign up for our Market Report newsletter to get emails when we update the numbers.

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