Bozeman Montana Real Estate Market - Bozeman Real Estate Group

Bozeman Market Report

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

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

This snapshot of Bozeman'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

While the real estate market has slowed since the 2020 boom, the lack of inventory is still creating a market that favors sellers.

How much do homes cost
in Bozeman, MT?

This median sold price includes single-family homes, condos, and townhomes and is based on monthly data.

$855,000

(+14%) Year Over Year Change

Overview

Home prices in Bozeman are not increasing at the rate that they once were, but we have not seen any dramatic drops in median sale prices since the market has slowed.

What do different types of homes cost?

This is the median price for each home type sold in the specified area. The median sold price is based on monthly data and can be skewed by the sale of a few higher-than-normal-priced listings.

Type August 2022 August 2023 Year Over Year Change
Single Family
$949,900
$1,050,000
11%
Townhome
$520,000
$727,500
40%
Condo
$520,000
$575,000
11%

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 August 2022 August 2023 Year Over Year Change
Big Sky
$2,700,000
$2,397,500
11%
Belgrade
$502,450
$603,000
20%
Livingston
$550,000
$465,250
15%
Three Forks
$515,000
$538,500
5%
Manhattan
$800,000
$1,073,000
34%

How many homes have sold in Bozeman, MT?

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

August 2022

103

August 2023

106

Year Over Year Change

3%

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

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

Overview

This is a great signal that Bozeman's real estate market is coming back to a more balanced market.

56 Homes Were Sold
Under Asking Price

26 Homes Were Sold
At Asking Price

24 Homes Were Sold
Over Asking Price

What Percentage of the Listing
Price Are Sellers Getting?

The original price received is the average of the sales price divided by the original list price expressed as a percentage.

96.3%

2% Year Over Year Change

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.

August 2022

33

August 2023

18

Year Over Year Change

45%

Are you thinking about buying or selling in this area?

Let us know how we can help!

Are you thinking about buying or selling in this area?

Let us know how we can help!